Process of making a reservation
- User performs a search on the BHB platform to find the hotel suitable for his needs. Then, he initiates the booking of the room(s) through the Boocash Hotel Booking (BHB) App.
- BHB approves and executes the booking (if there are sufficient funds in the user account and if the room is currently available to avoid double bookings issues).
- BHB sends BOO tokens to the smart contract to execute the transaction.
- Smart Contract receives funds, records booking agreement to blockchain, and holds funds in escrow.
- BHB updates the user’s account and balances.
- The property owner receives confirmation of the booking and waits to welcome the user.
- The user enjoys his stay hassle-free at the hotel.
- The property owner receives his BOOs from the smart contract once the user made his checkout to the hotel.
The booking feature of the BHB App guides the user through the reservation process with a friendly user interface. Upon selecting a room with the dates and other details about his needs, the user makes the payment by sending funds to the smart contract. The smart contract creates the digital index containing the virtual booking. The smart contract also creates a booking agreement while funds are held in escrow until both of the user and property owner confirm the stay at the hotel and the checkout. All booking activity is executed by the smart contract directly offering complete decentralization in the process.