There has been a lack of trust in the travel industry. Whether it be hotel reviews or airline company reviews, you can rest assured that at least a portion of these firms have paid a sum to make their services stand out amongst the others.
Another issue in the travel industry is found in companies like Expedia and other “middlemen” companies which promise to make your life easier by managing all your bookings, from flight tickets to hotel stay and transfers. You see, while such companies market themselves as customer-oriented, they only do so because they want to make as much profit as possible.
Sure, for the average Joe this is not a bad thing, you give out a little extra dosh and everything’s sorted, without you having to worry. However, for many young people (and otherwise), there’s not much to spare, thus saving every dime matters.
Here’s the punchline: Trippki.
At its core, Trippki promises to allow customers to earn back their own custom-made token (TRIP) on value spent organising your holidays (including flights, hotel stay, transfer and other activities). How does it work?
When the customer pays for their trip through Trippki, part of their (fiat) payment is automatically and instantly tumbled into TRIP token, which is received at the end of the trip, these are known as “Hotel Rewards”.
Tired of Fake Reviews?
Using blockchain technology, Trippki is able to cut out the middleman (Expedia, Priceline, Bookings.com), and reverse their effects. Whereas the aforementioned companies charged you for using their service, Trippki rewards you! The lines of code behind this is Trippki’s very own ProofOfStay(POS) combined with the Ethereum (ETH) blockchain, as TRIP is an ERC-20 token.
Given the blockchain’s immutability, each TRIP is recorded on a ledger and by definition this implies that information cannot be faked or tampered with. What this means for end consumers is that using Trippki platform they will have access to the most honest and real reviews, made by real people who have actually been to the hotel in question. Users are further incentivized to leave reviews (either negative or positive) by allowing them to earn TRIP token.
Summing it up, Trippki helps the travel industry by:
- Eliminating fake reviews
- Reduced commission in travel bookings
- Incentivising hotels to provide better quality service
The aforementioned TRIP token can be used to partially or wholly cover future bookings.
Trippki are their own advocates for the liquidity of their cryptocurrency, which they have proven by having already partnered up with BlockEx, a trading platform which bridges the gap between traditional fiat and cryptocurrencies. Furthermore, BlockEx will be the company conducting the ICO on behalf of Trippki.
Doing so ensures Trippki customers that the value earned back (TRIP token) is liquid and spendable, having been guaranteed real world value.
However, a common series of questions which arise with many crypto projects: Is there really a problem? Or are they just creating one? If there really is a problem, is this the right way to solve that problem?
As stated in the Trippki Whitepaper, the OTA market (Online Travel Agent) is currently dominated by a duopoly, consisting of Expedia and Priceline Group, which account for 80% of the market. The entire hotel booking market is raking in about $528 billion every year, of which an astounding $32 billion goes to commissions. These numbers will continue to grow in the same fashion as the duopoly of Expedia and PG are expected to, given their current growth rates. Eventually, as these companies will eat up most of the market share and push out other competitors, customers will have no choice than to opt for either of the two, and having to pay the overbearingly large commissions imposed.
Trippki provides a decentralized way of online booking for travelling, which not only gets rid of the commissions which industry giants impose, but also offer an end-of-trip compensation, and a platform which allows customers to rate their experiences. This creates and environment and ecosystem where hotels and other services can be curated, which not only ensures the comfort of their customers, but also incentivizes such service providers to improve.
All in all, Trippki seems to have a good case for a real life problem, and a suitable solution. If I had to point one problem it would be that hotels and other providers may scoff at the universal loyalty system, wherein tokens earned at one hotel can be spent at another. On the other hand, it could be argued that the additional exposure and customers brought over by Trippki gives them (the hotels / other providers) enough incentive and reason to incorporate the platform and partner up with the company. Otherwise, Trippki does very well to ensure their users reach their destination as cheaply as possible, and incentivizes user loyalty to the platform through rewards. Lastly, I’d like to stress out the point that BlockEx is conducting their ICO… which is a huge step for any company in the blockchain industry. Many ICOs tend to fail due to simply not getting listed on relevant exchanges, for Trippki this partnership brings liquidity, something which all blockchain-based company SHOULD have, but something that many seem to not have.
Trippki ICO starts on the 2nd of August, here’s what you need:
- Instagram: https://www.instagram.com/trippki/
- Facebook: https://www.facebook.com/triprewards/
- Twitter: https://twitter.com/trippki_
- Reddit: https://www.reddit.com/r/trippki/