Airbnb has once again confirmed its growing interest in Bitcoin (BTC) and cryptocurrencies. The platform for renting accommodation between individuals assures that it is looking into the integration of payments in digital currencies upon request of its community. Nevertheless, Airbnb plans to remain cautious in adopting cryptocurrencies.
Airbnb is looking into the subject of cryptocurrencies
Airbnb, the platform that allows individuals to rent out their homes, is gradually turning to Bitcoin (BTC) and cryptocurrencies. In an interview with the media outlet The Verge, Brian Chesky, CEO and co-founder of Airbnb, confirmed the company’s growing interest in the digital currency sector.
“We are looking closely at the topic of cryptocurrencies […]. Just like there is the travel revolution, there is clearly a revolution happening in cryptocurrency,”
says Brian Chesky.
The CEO went on to compare how Airbnb works with how the Bitcoin protocol works. According to him, both models do without a trusted third party by relying on a public ledger.
In the case of Bitcoin, this is the blockchain. Airbnb, on the other hand, publicly displays all traveler reviews on its site. A trusted third party is therefore still essential. It is the platform and its managers.
“The Bitcoin white paper said that Bitcoin does not require trust because there is a large public ledger. Airbnb approached the trust problem in a similar way: we proposed a trust system where all reviews are the equivalent of this big public ledger,”
the Airbnb CEO believes.
Towards cryptocurrency payments on Airbnb?
Earlier this year, Brian Chesky asked his Twitter followers to choose the next new features of the platform. Internet users overwhelmingly named cryptocurrency payments as the service’s most anticipated next feature.
In a recent interview with CNBC, the Airbnb co-founder says he took his followers’ opinions into account. Following the results of the survey, Chesky assures that a “team is currently looking into that.”
“We don’t have anything to announce, but we’re absolutely looking into it,” adds the American entrepreneur, stressing that “nothing will be able to be implemented quickly.”
In the interview with The Verge, Brian Chesky assures that “everyone who handles a lot of money” should look into Bitcoin payments. He also hints that Airbnb plans to remain cautious when adopting cryptocurrencies. That’s why the company has “no near-term plans” on that front.
“You have a lot of volatility. One of the accounting challenges is that if you have gains, you can’t really count on those gains, but if you have losses, you have to count on those losses. There are a lot of things you have to think about,”
the CEO tempered.
As a reminder, Airbnb first mentioned cryptocurrencies in 2020 during its IPO. At the time, the platform felt it was critical to adapt to emerging technologies, including cryptocurrency. Despite this sustained interest, Airbnb has not implemented anything concrete along these lines.
