Currently, the global rental market is estimated at 500 billion dollars with a 10% growth rate annually. Airbnb has about 6% of that current market with a market cap of 30 billion and revenues of 4 billion a year. Airbnb represents a startup that’s looking to capitalize on the market of trust between renters and owners. For their guarantees, they charge a 12% commission fee to the owners and 3% commission to the tenants.
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However, Airbnb’s service still cannot guarantee quality service to the customer. Owners may choose to renege on their obligations at the last moment, and quality of the owner’s property may be fabricated by fake ratings and photos.
Zangll is able provide a more secure vacation renting service with a rating system that ensures genuine feedback for all involved in a transaction. Unlike Airbnb, Zangll utilizes blockchain technology to verify both the owners and tenants on their platform. Both owners and tenants register on the Zangll platform in compliance with KYC rules.
On the Zangll platform, only those involved in a transaction may submit a review, preventing fraudulent ratings. Providing quality service to Zangll tenants will become a priority to owners who depend on their ratings to fulfil bookings. Zangll will also delete the accounts of low rated properties ensuring quality of service to tenants.
Signing up for Zangll will be a simple process for tenants. In fact, it is only an eight step process. First, join our site. Then they can find a property appropriate for their needs. After that, they will comply with the KYC procedures and establish a wallet. After purchasing our token they will sign the smart contract, essentially putting the money in escrow until the service is provided as advertized. Once the service is complete the review process will begin and money will be delivered to the owner.
Zangll will provide electric locks to owners that will cooperate with smart capability technology (smart watch, smart phones, etc) of the tenants. From then on Zangll’s only service will be to arbitrate between parties, if seen as necessary as a fourth level of arbitration between parties. The first level will be a tenant to owner conversation, second being an AI service and the third being user based arbitration.
All services provided by the use of blockchain and smart contract technology will drastically cut commissions providing incentive for owners to join and customers to purchase. A slight transaction fee of .45% ZNGL on the side of both parties will be the only transaction cost.
As Zangll progresses, we intend to branch out to other rental markets such as aircrafts, yachts, cars, and more. Zangll will establish itself as a blockchain and smart contract service rather than just a rental service.
Based in Estonia, Zangll’s team features an international team with experienced entrepreneurs and leaders in their field featuring members from Russia, Estonia, U.S., the Netherlands, and Latvia.
Zangll’s functioning language will be primarily written in Go, and it will implement smart contracts written in Solidity on the Ethereum platform. The program will offer a seamless experience for customers allowing for nearly instant transactions and rental process.
ZNGL, an ERC 20 token, is the featured currency for Zangll. Customers may purchase it with Bitcoin or Ethereum in the main sale. Sign up now to participate in the pre-order and earn a bonus up to 35% in the first hour of the sale. The ZNGL token will primarily be used as a token for the service and it should not be viewed as a security.