NFT Booking in Qubitos

Santos, Alexandre Luís

http://hdl.handle.net/10400.8/9660

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Authors

Santos, Alexandre Luís

Advisor(s)

Craveiro, Olga Marina Freitas

Abstract(s)

In recent years, decentralization has emerged as a transformative concept, challenging traditional centralized systems. This shift has been particularly evident in the realm of distributed ledger technologies, where decentralization not only addresses user fees but also enhances security. This project delves into the potential of decentralization to overcome existing limitations within the booking industry, with a specific focus on leveraging the Hedera Hashgraph ledger. Our project envisions the development of a novel booking platform, one that facilitates the reservation of physical spaces worldwide through the exchange of digital assets. We introduce the concept of "Qubito", comprising non-fungible tokens representing cubic spaces with 2-meter sides, translating into three-dimensional digital representations of real-world spaces. Users would exchange these digital non-fungible tokens to book physical spaces, presenting an innovative solution to a longstanding challenge. Implementing this concept poses both innovative opportunities and challenges. This research explores the feasibility of its implementation and delves into the relatively uncharted territory of Hedera Hashgraph as a ledger technology. Our Proof of Concept demonstrates the viability of the idea, although with some limitations to address for real-world deployment. Notably, Hedera Hashgraph exhibits promising performance compared to other ledger solutions, positioning it as a potential scalable solution. This work not only contributes to the understanding of how distributed technologies can revolutionize booking platforms but also sheds light on the advantages and limitations that must be carefully considered. Furthermore, it expands our knowledge of Hedera Hashgraph, revealing its untapped potential in the world of decentralized applications.