Chris Coney Interview with Jonathan Chou CEO of Bee Token 🐝 Decentralized AirBNB on Ethereum
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Find out more about Bee Token at:
https://www.beetoken.com/
So today I am with Jonathan Chou Co Founder and CEO of Bee, that’s B, E, E.
Bee is a project that intends to be the future of home sharing, kind of like a decentralised AirBNB on Ethereum.
The project is lead by former employees of Google, Facebook, Uber and Civic so that’s some good experience for a project of this nature.
Jonathan himself is the ex-Uber employee and ultimately the Bee platform will allow people to list their homes and for guests to find and book accommodation.
Talking Points
- Are they sure they want to build it on Ethereum?
- Scaling
- Guests have to pay tx fees to book accommodation?
- How similar or dissimilar is Bee to AirBNB?
- What are the shortcomings in the accomodation sharing market you aim to solve with Bee?
- Have you spoken to current AirBNB vendors?
- What do they say is their biggest frustration?
- How the project come about? Did you have a bad AirBNB experience or something and get really mad about it?
- How does the network incentive system work?
- What do you mean in materials when you say the Bee platform will have commission free transactions?
- How is the Bee platform going to fund and sustain itself?
- What is the difference between Beenest and the Bee protocol?
- What is the Bee token for and why is it necessary other than for raising money via an ICO?
- You talk about building Dapps on Bee, what kind of Dapps?
- All sharing economy type apps?
- Kind of like 0x does for decentralised exchange?
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This is one of your best interviews. Lots of excellent questions and answers that truly answered them. And outstanding rephrasing on your part to clarify those answers further. Especially loved that in the very reasonable allotted time so many questions were answered. Ended up being an interesting and educational episode.
Makes me want to check out this bee token for myself. In other words, the interview is a success.
@thymewisper i am agree with you
I am confused. I went and had a look at the bee token site. there are 500 million possible bee token. and 15% of that is going to the team. That's 75 million to the team. and this is where I get confused, They advertise as dismiss the middle man, promoting a greater equality. When what I am seeing is a few get really wealthy if the bee token reaches a value of 10 US $ thats 750 million gained by a few to create equality and a better financial system. The rake people are trying to pull back from these coin set ups is way out of proportion compared to what they say they are trying to do. Maybe I am missing something here, But reaping a massive reward from something done, seems pretty much the same mind set as the financial institutions already in existence. only changing who is at the top.
Interesting point of view. How would you structure it so the team has a sufficient financial incentive to do their best work?
I don't think this was covered in this interview, or any others I have seen recently. When these tokens are reserved for the team, are they tied to metrics or goals? Typically compensation is tied to meeting sales goals, nights booked, usage etc. It seems with new ICO's the move has been towards a big payday to the team today, even if they project fails in 1,3,5 yrs. I would like to see these reserved tokens tied to growth metrics of the platform before being released. This would help ensure the team has the financial incentive to produce.
I would assume 15% of the value sold for each coin at sale. The reward would be based on total sales/shares. The problem is, the same people can set up and improve on how they organise start up coins every year, in competition with the last and each time get a massive payout. and the coin does not survive the small Majority once again gain while the Mass lose out.
What is the point of removing a fiat currency, if the market is to be flooded with too many Digital Currency. We have enough and should be working on consolidating a few currencies that can be used with less risk of loss of value. This flooding the market with new coins all the time will Kill them off. Trader will not wanting to be trading in 2000 currencies that all fluctuate with high variance. Where will you spend all the new coins. do you want a wallet you need 2000 coins it can work with, so you have the currency to pay a specific vendor?
I firmly believe that the coin who or one of the coins who will last and have a full life will be one with a social economics infrastructure in place as part of the rewards. this type of coin can only improve things for everyone and extend the reason of good will and equality. My views on these things I have not seen anywhere within r out of the Crypto, other then the mentioning of this or the system we work in does not work. and no one entertains the thoughts of solutions. I could go on and on. Maybe I should and maybe some might hear.
One possibility. would be they get paid from post updates like we all do, which I assume they do.
Add to that. A salary %. that salary % can be as high as 15% which is acceptable. However, Possibly a cap on a yearly earning. With a minimum term of contribution not below 5 years, will then also give an assured income of a set amount after they leave and move to areas they hold in interest. they can take with them an annual sum gratis payment. This conditional on length of input. min:3 yr .. 5 yr full benefit. Also they could not leave and go to a rival company or any that would compete with lets say Steemit.
I can see your brain ticking with the salary part. Not that hard to work around. As long as we can compromise on some things, we can do anything.
I possibly interpret things wrong, but I see a lot of talk about Freedom from the ruling class to put it simply. I also see many just trying to grab the loot. I see a lot of talk about how things are not equal and what is unfair. I see a lot of sad stories here, or people posting links to youtube soon to be Dtube I expect as they will get rewarded there too. I see no group coming together for the better of everyone.
I am not that strong in Steemit very new here. I did write a brief blog for social economics.
https://steemit.com/socialeconomics/@brayias/serious-or-just-all-talk
If you have time or interest in pursuing an idea like such. I would appreciate an audience with you to talk further.
Have slow inbuilt inflation similar to Eos, not a grab of tokens at the beginning.
I struggle to see how this will get adoption.
Overall I think it add too much complexity, not simplification for a process. The more steps I have to take the less likely I am to do it.
I agree that so many projects are saying that blockchain is the answer without actually looking at the practicality of using blockchain. There are advantages e.g. the immutability of records etc but the currency volatility (remember the perception about the two pizza cost) and difficulty of redeploying used funds for another purpose is the killer for me and this project. ICOs are a good way for projects to easily raise funds versus traditional venture capitalism but do not necessarily lead to a better project for the end user. And as Brayias points out it really obscures the remuneration that the team receives.
Wonderful Post Projects by Fantastic Wish you the best
How is this different from crypto cribs?
Very enthusiastic about Bee token!
i liked your post its infomational post
Great interview. Very informative. Keep it up!
Could you compare the Lockchain token to the Bee token. The Lock token just seems like a utility token, whereas Bee token is a security token?