Largest ever Blockchain implementation in the modern travel & tourism industry.
Over the decades, tourism has experienced continued growth and deepening diversification to become one of the fastest growing economic sectors in the world. Modern tourism is closely linked to development and encompasses a growing number of new destinations. These dynamics have turned tourism into a key driver for socioeconomic progress.
Today, the business volume of tourism equals or even surpasses that of oil exports, food products or automobiles. Tourism has become one of the major players in international commerce, and represents at the same time — one of the main income sources for many developing countries. This growth goes hand-in-hand with an increasing diversification and competition among destinations. This global spread of tourism in industrialized and developed states has produced economic and employment benefits in many related sectors — from construction to agriculture or telecommunications.
How big is global travel & tourism industry ?
Reports By UNWTO
The travel and tourism industry is the world’s largest commercial service sector industry. The World Trade Organization (WTO, not to be confused with the UN World Tourism Organization (UNWTO)) is the leading international body that monitors international macroeconomic data.
Reports by wttc.org
The total contribution of Travel & Tourism to GDP was USD7,613.3bn (10.2% of GDP) in 2016, and is forecast to rise by 3.6% in 2017, and to rise by 3.9% pa to USD11,512.9bn (11.4% of GDP) in 2027.
In 2016 Travel & Tourism directly supported 108,741,000 jobs (3.6% of total employment). This is expected to rise by 2.1% in 2017 and rise by 2.2% pa to 138,086,000 jobs (4.0% of total employment) in 2027.
( Data Source: Report By wttc.org on “WORLD’S TRAVEL & TOURISM ECONOMIC IMPACT 2017” & UNWTO)
The highlighted problems of travel sector.
When a traveler wants to make a trip he/she has to perform different kinds of processes like Ticket Booking, Payment System, Currency Exchange, Hotel Reservation, Car Rentals, Tour Guides etc. To complete that process, he/she has to go through various platforms. But the problem is, it is quite difficult to find the right service among the various platforms.
Now, think of a platform where you can book tickets & hotel rooms, hire a tour guide, plan a trip and many more with the help of travel experts trusted & reviewed by hundreds and thousands of other travelers. This is so relieving for a traveler to decide whom to trust when a service is trusted by millions. Now you have all kind of solution for spending money for traveling. Add to that, what if you also rewarded with a money earning platform enjoying all these services from one giant platform while traveling… sounds awesome, right?
“TripEcoSys” Will be the largest ever decentralized travel & tourism Eco-system powered by Ethereum Blockchain.
What is TripEcoSys?
We are proudly presenting “TripEcoSys” world’s largest decentralized tourism ecosystem powered by Ethereum Blockchain. Where people can find every travel related service provider under one roof and also can earn money by sharing their valuable contents. Our goal is to revolutionize the tourism industry by improving the traditional Travel Eco System (TES), for the purpose of connecting consumers directly with service providers in a decentralized way with help of emerging Blockchain technology.
Mission & Vision of “TripEcoSys”
The mission of TripEcoSys is to make a fully decentralized travel ecosystem where every people from around the world to have a carefree traveling and enjoy personalized approach to their travel needs with authentic experience wherever they go. Encouraging every member by incentivized their contribution of time, skill, local experience and resources.
Our platform mainly consists of :
- An incentivized, Blockchain-based, public content sharing platform which will be a traveler’s blog.
- A social travel review platform built on Blockchain in order to bring fairness to all content creators in form of financial rewards.
- Specialized ad platform for travel service providers like hotels and restaurants, airlines, car rentals, tour guides, travel goods seller etc.
- Multi signature wallets for securely storing and spending your tokens.
- Decentralized public exchange for securely exchanging your desired coins and token.
- Merchant payment gateway to accept TripPay(TCH) token as payment,which will make the business more flexible and client friendly.
Project Overview of “TripEcoSys”
“TripEcoSys” is a decentralized travel ecosystem that supports community building and social interaction with cryptocurrency rewards. “TripEcoSys” combines concepts from social media with lessons learned from building cryptocurrencies and their communities. An important key is to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects each person’s contribution.
“TripEcoSys” is the world’s first largest decentralized platform that aims to combine a incentivized social travel blogging system, an exchange, a multi-signature wallet and a merchant payment gateway in one place to meet all the necessity of traveler’s worldwide, accurately and transparently who make subjective contributions to its community.
A little description of core features of TripEcoSys
“TRIPTALK” An incentivized, blockchain-based, public content sharing platform.
Collectively, user-generated content has created billions of dollars worth of value for the shareholders of social media companies, such as Reddit, Facebook, and Twitter. In 2014, Reddit hypothesized that its platform would be improved if everyone who contributed to reddit.com by posting stories, adding comments or voting were rewarded with a fair share in Reddit, Inc.
TripTalk is a travel blogging platform where a content creator write their travelling memories, and experience and get cryptocurrency TripPay(TCH) token as a reward.
TripTalk is to change the insight of content creator’s importance and bring balance between the creators and the world of business. From reviewers to photographers, inﬂuencers, writers, and other content creators, everyone needs to get rewarded by TripPay(TCH) token.
In order to give everyone an equal opportunity to get involved and earn the currency people must be given an opportunity to share and writing their memories. In TripTalk a traveler can share his/her travelling experience which may be photos, videos, food experience and many more, with the unique set of tools which also designed to improve the content quality.
TripEcoSys Multi-Signature Wallet
The purpose of multi-Signature wallets is to increase security by requiring multiple parties to agree on transactions before execution. Transactions can be executed only when confirmed by a predefined number of owners.
- Can hold Ether and all kind of tokens with Multi-Signature support.
- To stop one person from running off with the loot.
- To reduce key person risk in case one person is incapacitated or loses their keys.
- Easy to use offline signing (cold wallet) support.
- Integration with web3 wallets (Metamask, Mist, Parity, etc).
- Optional email notifications when an event is triggered or you are required to sign a transaction.
- Interacting with any contracts with UI support.
- Hardware wallet support (Ledger Wallet).
- Transaction data and log decoding, makes transactions more readable.
Make your business more flexible and client friendly — accept TripPay as payment from your clients
TripEcoSys provides the fastest, safest, and cheaper TripPay integration for business: risk-free TripPay exchange services with low fees.
- Ad campaign.
- Get reviewed by million of travelers which makes the Merchant service more trusted& reliable.
- Easy to integrate through the TripPay payment API or shopping cart plug-in for WooCommerce, Magento, PrestaShop, Opencart, Drupal, WHMCS, and other platforms.
- About instant payment receives and convert it to other supported cryptocurrency.
- TripEcoSys, the TripPay payment gateway can be used at both online sites and physical points-of-sale.
- Advanced Ad viewer tracking system with the power of distributed ledger technology.
“TripPay(TCH)” token will be the payment solution for TripEcoSys.
Blockchain as distributed ledger, opened the gates of opportunities for real-time online payment solutions. Adoption of this technology in travel industry has always been on the digital currency side giving us just another way of payment for our reservations. Although this is a very important feature as the payments no longer would need extra fees there is an unseen cost-machine at the back of the transactions thus explaining the higher prices. We believe that Blockchain technology and digital currencies will eventually solve the transaction fee problem. To take it a step further, we will redefine how the travel product is defined and consumed while providing a real-time solution for TripEcoSys.
Let’s take a further look.
TripPay(TCH) is a ERC20 compatible token based on Ethereum. Blockchain, in its nature, offers a basic and fundamental solution. It is the immutable history of the transactions and thus expressing the final ownership of the assets. Assets can be money, a license or a ticket. Its elegant design in keeping a secure, distributed chain of information would help real business scenarios as discussed in the former section.
The key points further is aiming to achieve are real time settlement and:
- Decentralizing the process of settlement, thus removing the mediator.
- Reducing the amount of money kept or blocked in deposit or safety accounts.
- Cost reduction on payments.
- Simultaneous cross-border payments.
- Customizable travel asset.
- Interoperability like merger, divide, exchange of the travel assets.
The digital coin used by TripEcoSys are not registered by any government, its function is subject to the trust of its users, everything flows according to supply and demand. The cryptocurrency that we will use will be the TripPay(TCH) token.