Benefits of TravelerToken for business partners
We at TravelerToken are anxious to establish a revolutionary product, which will restructure the trourism industry to the mutual benefit of all its users. Those mutual benefits apply to the customers as well as to our business partners.
We already talked about the great advantages, that blockchain technology has to offer and how it will affect the way that businesses work. The TLT ecosystem lets travel companies improve their existing IT systems using blockchain technology by making it possible to maintain accurate and accessible inventories of the services they offer — from an airline’s available seats to a hotel’s bookings for a night. Partnered companies can use these inventories for applications to effectively eliminate problems like price inflation or the dreaded double booking.
Using our financial blockchain, partnered companies will be able to offer TravelerToken (TLT) to travelers as a secure and instant method of payment for services. Compared to other cryptocurrencies, TLT is highly liquid and it will maintain its value based on demand for the goods and services provided by partners. TLT investors and owners can use their tokens to pay for services with partnered companies or load their tokens onto the specially developed TLT Debit Card and, thanks to a partnership with Wirecard Bank, use them internationally wherever MasterCard is accepted. Development and management of the ecosystem are directed by the TLT Foundation, an independent organization where each company participating in the ecosystem is represented and has the ability to shape its future development. We provide a standardized, cooperative loyalty program with automatic smart contracts and instant gratification. At the same time, we can reduce the complexity of settlement processes by making use of the smart contracts.
We envision most travel and tourism-related businesses across the globe united in this consortium that uses the TLT distributed system to the mutual benefit of all. The qualifications for membership will be as inclusive as possible but fundamentally designed to ensure the stability and longevity of the consortium. The consortium will be governed by a non-profit legal entity controlled democratically by members and focused on expanding the ecosystem surrounding the industry — emphasizing efficiency, quality, and innovation. It will extend standards to incorporate new emerging trends and technologies, put smaller and larger partners on a more equal competitive footing, and bring the industry into the state of the art. Consortium members will benefit from nearly free transactions, ability to share user information when given permission, simpler flow for users to book peripheral services by accessing partnered platforms, and the ability to use the TLT application platform for service optimization. This will decrease costs and provide for an integrated travel experience. We’re developing the technology and proving the economic model for this improved way of doing business. We hope to see other groups of businesses with aligned interests and concerns follow in our footsteps, paving the way for more sustainable global business practices. The TravelerToken system is run by the member businesses themselves. They run the software alongside where they keep their data, wherever: cloud, a server, an IoT gateway.
Just a quick reminder: If you want to stay updated on any news that are related to TravelerToken, follow us on our social media channels, which you can find below. If you want to go more into depth with topics like blockchain and data security, read our whitepaper as well!