According to the prospectus for IPO, Airbnb may have had a change of heart on cryptocurrencies
According to the U.S. Securities and Exchange Commission, it looks like Airbnb is changing its stance on cryptocurrencies.
Airbnb may have had a change of heart on cryptocurrencies
This is because, according to the prospectus for the Initial Public Offering (IPO), Airbnb says:
“The future success will… depend on our ability to adapt to emerging technologies such as tokenization, cryptocurrencies [and] new authentication technologies.”
Furthermore, the prospectus further lists distributed ledger and blockchain technologies and biometrics, artificial intelligence, augmented and virtual reality, and cloud technologies, which may be key in the future.
Although the information is provided in the “Risk Factors” section of the document, it also states that:
“As a result, we intend to continue to spend significant resources maintaining, developing, and enhancing our technologies and platform. However, these efforts may be more costly than expected and may not be successful.”
Airbnb has previously said it has no plans to start accepting bitcoin as a means of payment, although that happened after acquiring the crypto services group ChangeTip in 2016.
If Airbnb announced cryptocurrencies, it would send a new shockwave through the industry and further afield. That happened when PayPal, after years of speculation, announced a cryptocurrency buying service last month.
As for the IPO, Airbnb is planning to trade on the Nasdaq Global Options Market with the symbol symbol “ABNB.” According to Reuters, it plans to raise about $ 3 billion in the offering, valuing the company more than $ 30 billion.
The company revealed in the prospectus that it was trying to make a profit in Q3 2020, despite being affected by the limitations brought on by the coronavirus pandemic.
Several decentralized projects have been set out to compete with Airbnb using blockchain technology, but none of the projects have been hugely successful so far.
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