A company is building a blockchain based system that will revolutionize how we rent things with smart locks – and that company is OkeyDokey.
OkeyDokey is a system for opening locks via the blockchain. With a more comprehensive vision that seeks to connect the blockchain to the physical world.
The team is building a system that connects blockchain based digital payment transactions to the opening of physical doors via smart locks. OkeyDokey is built to integrate with various online booking platforms, such as Airbnb, Homeaway, etc. and provides value to customers by relieving the complexities and costs involved in both digital and physical operations of rental process.
OkeyDokey Is The Platform For Future Rental Economy.
Online rental industry is composed of fragmented parts. Many booking platforms such as Airbnb and HomeAway provide an extremely well-designed interface and contents, which allows millions of guests to find and book homeowners homes. Additionally, payment processing, booking management, access control and many other services exist as supplementary products and services of booking platforms.
These services provide smarter tools for homeowners and real estate managers. However, problems arise due to the inconvenience of using various service applications and an increased operating cost per additional service. No need to worry, OkeyDokey is here to transform this fragmented and siloed industry structure with a single streamlined service.
Just for the basic stuff, people have a hard time using different applications. What OkeyDokey wants to do is make a leapfrog product that is super easy and cost effective to use. First, OkeyDokey is aiming to connect all digital marketplaces that will enable users to use OKEY Tokens to book and pay for rooms across various booking channels globally. Secondly, customizability of the payment options is flexible enough to allow for short and long term bookings. This is the power of smart contracts developed by OkeyDokey team. Things such as security deposit holds and cleaning fees can also easily be integrated into the payment setup. Last and not least, all necessary functions, from booking / payment to providing door access is streamlined and automated via the smart contract, providing convenience and reduced operational costs to the users.
For Whom And How Does OkeyDokey Provide Value For Its Users?
For homeowners and property managers, OkeyDokey offer super easy-to-use rental property management solutions. All reservations, payments, and access management are easily and automatically operated via the blockchain. This is advantageous for hosts because they can list their real estate on several different platforms in a synchronized manner. In other words, when the property is booked on one platform at specific dates it will become unavailable on the other platforms, which eliminates the problem of double bookings.
For guests and any holders of OKEY Token, they can take advantage of variety of booking platforms such as Airbnb, Booking.com, HomeAway, Expedia, Yanolja, FlipKey and many more. Furthermore, guests can experience super easy smart door lock check-in process.
Online booking platforms can leverage their brand and use OkeyDokey technology to pass along the convenience through smart connected door locks and a multiple booking channel management tool that increases the likelihood of bookings for the property owner.
Construction companies and developers can increase their brand value by commercializing buildings as shareable accommodations via OkeyDokey smart lock and blockchain technology.
OkeyDokey is based in Singapore with the R&D team located in Seoul. Blockchain engineers, all graduates of Carnegie Mellon University having studied in computer engineering or computer science, include Ryan Park, Seongmin Park, Vanessa Hwang, and David Song. Jan Rothkegel is the marketing strategy expert. Inmok Yoo, with over 35 years of experience in construction industry, recognizing its OkeyDokey’s strong mission has joined the team to lead and direct marketing and sales. Ruiqi Wang, with his experience as a journalist at Xinhua agency, brings invaluable assets to OkeyDokey as Public Relation Officer.
Advisors of OkeyDokey are Daniel Zhang and Sokho Jung. Daniel Zhang, is a founder of P8, a top education and cultural incubator in Hunan, Changsha, with the company’s gross value of 3 billion RMB. He has worked to introduce Broad Sustainable Buildings (world’s fastest, largest and tallest steel modular housing constructions to date), his father, Zhang Yue’s invention. Sokho Jung has over 25 years of investing and banking experiences in Asia and USA. He is a Managing Director for Asia Growth Capital Advisors (“AGCA”), a Singapore-based private equity investment firm.
OkeyDokey has received an Angel Investment Round from a group of angel investors in February of 2017. Notable investors include former Vice Chairman of Samsung Group, Yeonju Jung, who served as CEO of Samsung Engineering Co., Ltd. and Samsung Construction & Trading Co., Ltd.
OkeyDokey will start its reservation sale on May 25th, and pre-sale will start on June 11. The public sale will open in July of 2018.