How It Works
The Decentralized INF Ledger is the engine that regulates all transactions and relationships between the hotels/property providers and the clients. In its core, there are going to be rules and operations governed by smart contracts which will be deployed in the Ethereum Virtual Machine.
Users upload the property listing on the INF blockchain; free of charge,InfraCoins allows users across the platform to freely access data and also make transactions using INF Tokens.
EXPEDITE DUE DILIGENCE AND FINANCIAL EVALUATION
InfraCoins will perform the KYC of the user digitally within minutes, by validating the documents and identification proof using AI and NLP. Once the KYC is approved, then users will be provided a trust worthy score, which can help the lender make the right decision of proceeding with the transaction.
BOOKING HOTELS WITH INF
On booking of hotel a smart contract will be triggered (agreement), which includes details such as price,hotel details and cancellation policy. Based on the terms of the contract, the smart contract initiates the payments from customer.On checkout the contract triggers the payment to the hotel.
Some of the operations (but not limited to) the decentralized INF Ledger will run:
- Booking placement
- Booking confirmation policy (instant/or after review)
- Deposit holding
- Deposit release/refunding upon check-out
- Check-in requirements & up-grade possibilities
- Dispute trigger & dispute terms
- Deposit withholding
- Optional history/reputation requirement for customer
- Listing of rental properties
- ..and more