CryptoBnB is banking on blockchain to transform the travel industry. The company's founder and CEO Tariq Alwahedi explains how this start-up can transform the travel booking industry.

"We are building a new disruptive technology," says Alwahedi. He says CryptoBnB is applying blockchain for short term rental application. CryptoBnB is currently in beta stage.

On whether he thinks the name is too close to Airbnb, Alwahedi says he is not trying to imitate the travel booking company. "We want to build a platform that serves bed and breakfast," says Alwahedi. "But the application is totally different."