Thank you to the TwentyOne Crypto Community for participating in Ask Me Anything (AMA) with BitBook May 25, 2021.

This guest star

1. Nick van der Kolk - CEO BitBook

Here’s our 55th AMA RECAP.

Introduction

Nick van der Kolk

Sure, so my full name is Nick van der Kolk , you can background check me here: https://www.linkedin.com/in/nickvanderkolk/
17 years in Sales, and my last job was as the VP Sales of TravelPerk, a company where I was responsible for around 100 sales people , we had roughly 700 million euro revenue.

I am finishing a major partnership with Booking.com so we are full steam ahead!
and us being a travel platform, we are looking forward to being able to travel freely again

Q1. Starting with the very basics, can you provide a simple description BitBook for our Community?

Nick van der Kolk

BitBook is a travel platform, where you can book your holiday. We are built with a focus on growth where everyone benefits: travellers are rewarded with tokens when they use our platform, content creators and influencers get rewarded bringing traffic to the BitBook platform.

BitBook’s business model will be split into three different revenue streams:
- Competitive commission model for every booking made on the BitBook platform.
- Affiliate Marketing to sell third party products (Insurance, flights, car hire etc)
- Advertisement to enable our partners to offer relevant products and services.

Last but not least:
100% of the revenue streams will be used to buy back tokens from the market, they will then be burned, decreasing the total circulating supply which will drive up the value of the BitBook token.

Q2. What are the Business Objectives, Market and Target audience of BitBook?

Nick van der Kolk

Our business objective is to make as much revenue (bookings) as possible, as this will result in us buying tokens from the market and creating a positive pressure upwards for the token value.
Our market is globally, as I mentioned before we are partnerd with Booking.com to have a very large amount of options available globally right away.
our target audience is anyone who wants to travel, you can pay with crypto on our platform, but you can also pay with normal credit card

Q3. How do you assure us of the benefits, safety and transparency of BitBook? How can you be the best solution than any other platforms?

Nick van der Kolk

The benefits of the reward program are hardcoded in the smart contract, which is fully audited. This means that for the coming 20 years on a monthly basis we will have tokens available for people that create remarkable travel content, influencers who share this and bring new users to the platform and to reward travellers with tokens if they choose to book on our platform.

Safety is garuanteed through our connections with the worlds largest players with the best technology.

Transparency through publicly showing each month our revenue and the amount of tokens we bought from the market and that we burn.

Q4. How can you balance between developing a platform and adding value to your product? Can you explain about the tokenomics and use-cases of BitBook token?

Nick van der Kolk

We balance it by staying focused on our core product. Which is booking a hotel and flight. Evreything else can be done through partnerships and integrating other company offerings. Let me give you 1 example.

We could for example have a travel bag company , that wants to sell travel bags. We have ofcourse a lot of people that want to travel, so they may need a travel bag. We could then link these two together, make a comission on the sale. We then use that revenue to buy tokens from the market.

Let me go into token economics now

We have No VC’s, No advisors, No Airdrops, No Bounties, No team tokens, No free tokens of any kind.
We sell 12,5% private sale
87,5% public IEO sale
We will have 400 million tokens , with a marketcap of 5,6 million, which is roughly 50 times smaller then our main competitor in the crypto space Travala
The reward programs run for 20 years and will have a monthly inflation of 0,25%. So after 20 years the total supply is 1 billion
Minus all the tokens that we are buying and burning

We will continue to buy tokens from the market until we have bought and burned 90% of all the supply

leaving 100 million tokens

Q5. What are the major milestones BitBook achieved so far & what are in future pipeline?

Nick van der Kolk

We have partnerd with booking.com to develop our booking engine, we have grown our community to now 4.000+ people (all real, no fake profiles). We have a database of 1.7 million opted in people for email communication.

We see a future where we will go live with the MVP and enable bookings directly after IEO.

One thing that I have decided today, is that I am personally financing a giveaway contest for our Telegram community. They can win a price of $3500 to spend on the platform to book their next holiday. For example to go to the Maldives!

because I am blown away by the positivty of the community and the warm embrace they have given the project

so I want to personally finance this price

QUESTIONS FROM TWITTER

Q1. From : VigeeLibra

In the event of a cancellation, modification of the destination etc. Is there a fee? What currencies are available for deposit on Bitbook?

Nick van der Kolk

There will only be a fee if the hotel would have that policy, we as the booking engine do not decide this. We will have a very large amount of currencies available to use as we are a global player.

Q2. From : QuixoteLux

BitBook is a travel booking platform where people can book accommodation. So, what’s the difference between BitBook and Travala? why does BitBook use blockchain? Does BitBook have a DApp service to make travel bookings easier? Do all your services accept only with BitBook tokens?

Nick van der Kolk

Great question, in the booking of a holiday BitBook and Travala do the same thing, just like how a Booking.com works. The big difference between us and the rest is that we have a reward program that provides a monthly pool of tokens to give to people who help make the platform grow. So we reward Content creators who make amazing travel content, Influencers who share that content and bring new people to the platform and finally rewarding people who book on our platform.

Travala gives some tokens that they take from the comission, so it will always only be as valuable as that comission is worth.
With BitBook is a standard pool of tokens that is there each month and not dependant on the comisssion itself. The value of our reward could be far , far higher

We need blockchain because the reward program with Fiat money would not work. If I have a pool of 1000 euro to give each month. Then no matter what I do in growth, it will alwyas be only 1000 euro. With blockhain I could give 1000 tokens and those 1000 tokens could be worth 10.000 euro each!

Blockchain allows us to scale endlessly. Unlike Travala we use this as our growth strategy, they do not.

Q3. From : Vin8517

According to the whitepaper, BitBook will have a monthly prize pool that will provide tokens for content creators & influencers. So, how do you intend to attract content creators & influencers to BitBook? How will BitBook benefit content creators & influencers?

Nick van der Kolk

The reward pool being valuable will do that work for us, if you are joining us early as content creator or influencer. You are able to earn a lot of the tokens early on. This will be worth a lot more in the future to come so anyone who can think ahead will see that they should join early.

We can already see this as I have travel blogs wanting to partner with us and provide us traffic

also do not forget that the travel industry has been hit hard by covid , harder then any other industry

People in the travel industry are looking to grow their revenue in new ways, so there is a lot of interest and hype around BitBook and the possibilities it will bring them

Q4. From : btc_will_be_ske

IEO has finished, BITBOOK has raised $607,143 on the Probit exchange and will be listed on May 31, what is the reason you chose the Probit exchange for IEO? how can you afford to face the challenge of being listed on a major exchange seeing that the market is currently unstable?

Nick van der Kolk

We choose ProBit because we have a large asian community , they are very good at doing IEO and are a top 20 exchange. We will not stop there and list on even bigger exchanges, our team have worked for KuCoin before. So we know exactly how exchanges work and what they want. We know how to get listed and increase the amount of trading that can happen with the token.

We have all our raised funds in stable coin BUSD and USDT. So we are not effected by any price drops.
Our IEO has no bonus or free tokens of any kind like I said before.
This means that if nobody got the token cheaper, the IEO is actually very good and relatively safe to buy in on when the market is going down

because nobody can dump the token without taking losses. While in any other market, there are always people who got it cheaper before and are fine with selling. So what I actually have seen is more interest from people in BitBook IEO

because the market is swinging up and down so much, we will be stable and providing a road for growth

Q5. From : blackcrow_vs_sw

“3 layer architecture for the best user experience” . Can you explain what benefit from it for investor and also for user your Travel system ? Is there will make us more easier or more fast to access some travel ? And how much the speed transaction increased with this plan ?

Nick van der Kolk

Our infrastrcuture is build on connections with for example a channel manager. They have around 400.000 hotels reservation systems directly connected so we can make a booking when we have a customer wanting to book. The benefit is that we can then skip any middle man and have more revenue / better prices for the travellers as a result

Speed transaction , I am not sure what is meant with this, but we are on the Binance Smart Chain, so we are low fees and fast approval

QUESTIONS FROM TELEGRAM

Q1. From : MM_carlos

You place great importance on content creators to attract more visitors to your ecosystem, but .. How does Bitbook verify that the content created is authentic and does not receive stolen or duplicate content from other authors?

Nick van der Kolk

Great question, we do this with systems that we have developed that will check for duplicate content on the web. Only quality content will be approved and published on the BitBook website. We will do this with our staff and I forsee a future where content creators can reach a certain rank, that we will not have to check them anymore because they have proven to be trustable.

Q2. From : tubakhalid

Nowdays So many Rug Pulls and exit scam happening . How Users can trust BITBOOK project and how you are different from others?

Nick van der Kolk

We have all our faces online, linkedin profiles, company documentation, we have been vetted by professional exchanges, I have over 27 recommendations from people who have worked in my teams which can be verified easily on linkedin. We have let our smart contract be audited , we have worked for KuCoin exchange and have long lasting relations build on trust with people that know us.

Q3. From : Eminet001

Do you also consider spreading globally especially to non crypto users and non English speaking communities?

Nick van der Kolk

yes, we are focused globally and content creators can create content in any language, influencers can bring their audience from anywhere as our platform is multi languages. We are a travel platform , so naturally we are very focused on thi

Q4. From : Lovely_DC

What’s the theme behind the name #BITBOOK for your project!? where did the project name come from!? What does it mean to you and why did you choose that name for your project?

Nick van der Kolk

I like this question, BitBook is inspired from “BITcoin” and “BOOKing.com” so combining the two makes BitBook. Co-founders of BitBook are both Dutch and you may not know this but Booking.com is a dutch company that was build by some people that we admire very much in the Netherlands.

Q5. From : iGervacio

I have thought that the most important thing for your platform is to attract tourists to your website and deliver eye-catching content. What is the type of content that BitBook uses to capture the attention of the visitor and how BitBook their vision through this content?

Nick van der Kolk

Travel content that is helpful for people to go research their next holiday or when they want to know more about a certain location. this would typically be the type of content. So it is really non Sales content. It is educational content

Q6. From : Lovely_DC

Could you please tell us about your listing plan? Especially those involving major exchanges, such as CEX and DEX. What type of Partnership are you looking for and what are your plans for going forward?

Nick van der Kolk

Yes , we have worked for KuCoin Exchange, so we know them all and we know what they want and need. We will be focused on top 20 exchange at launch. Then as we grow we will qualify for top 10 exchanges. I am already in touch with all the Managing directors / VP’s from the exchanges because I know them all.

Thank you all so much for the AMA , please join us in telegram if you like BitBook and again I thank you for your time. https://t.me/bitbooknetwork

Telegram : https://t.me/bitbooknetwork

Website : http://www.bitbook.network

Twitter : https://twitter.com/BitbookT

Medium : https://bitbooknetwork.medium.com/

Facebook : https://www.facebook.com/BitBookTravel/

Youtube : https://www.youtube.com/watch?v=JlEOn1GEEWU

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