Crypto Bear Market Icebreaker

Trip.org is a blockchain-powered application eyeing the world market. It squeezed in the market of public tourist consumption by superlative service on hotel/flight/train reservation, serving as the embodiment and precursor to token economy.

From Dec. 17 to Feb. 6 this year, bitcoin price slumped by 66%, bottoming $6,588 from $19,655. Cypto bear market came in like a lion. From then on, bitcoin price remained low at gross $6,000.

The worsened market was represented directly by multiple blockchain projects, forcing more investors who got their investment locked to leave the blockchain industry, which in return, frozen the cryptocurrency market again.

Though darkness gathered, some silver linings could be seen. They are projects of high quality. Their resistance and advance impressed many remaining investors. We found from our research that they stood out not only for the development teams behind, but also for their tight correlation with market liquidity. Crypto market at present got relatively low capital pool and saw meticulousness from financial giants who kept an wary eye on it. A ripple on the pool might quake the industry. However, that was not to say that crypto bubble were looming.

Now let us focus on Trip.org. Established in 2017, Trip.org gained its ground very quickly by listing its token TRIP on Coinyee exchange in Mar. 2018. During its 5 months till now, it went ups and downs and finally reached a perch. On Jun. 1, it rose more than 70% and its performance stayed strong.

Good news also came in May, Trip.org became the first blockchain-based application employed for travel service by launching Trip.org APP in China. As of this month, Trip has had two updates. For Chinese consumers who were in need of hotel/train/flight reservation service, Trip.org facilitated them by cooperation with Wechat Payment and Alipay. In terms of users’ benefits, Trip.org had airdropped 1 million TRIP candy to nationwide users. For new entrants, 2 TRIP served as a gift. Invitation and expenses on the APP would also enjoy TRIP token as reward. TRIP token was tradable on Coinyee and transferral fees was eliminated. The recent activity of RMB18,888 to give away was highly engaged by users.

Now leave Trip.org. We could see the big picture of tourism in the weakness. It is highly centralized and had little space for new entrepreneurs. But their perseverance generated still a considerable amount of innovations on every segment of the industrial chain.

We believe, as the industry is going through an upgrading and more innovative ideas coming such as blockchain, more opportunities will show up, especially blockchain-based applications. For industrial giants who took long-term dominance on industries, blockchain revolutionizes their business model and that’s where we should make constant effort for.

Token economy was offset by the traditional tourism as it practiced the idea of users are owners. We are now facing increasing pressure propped up from industries, things must be done to release it.


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Translated from https://www.jinse.com/news/blockchain/217809.html