TripBit is a decentralized peer-to-peer marketplace for Travel and Tourism. It is a digital money platform that integrates three cardinal businesses: Flights, Hotels, and Events into a single system that will run on Blockchain technology. It was founded by George Rozos (CEO). It has a cryptocurrency and fiat-based (USD, GBP, AUD, EUR etc.) payment system.
The company’s mission is to provide an easy, affordable and secure platform to pay for these three cardinal businesses. It aims to meet up with the accelerating expansion of the travel industry, as new tourist destinations keep emerging.
How does TripBit work?
TripBit utilizes both Blockchain and Smart contracts. The TripBit project constitutes two platforms:
– A primary market where users can book hotels or purchase tickets for flights and events.
– A secondary market that allows users to exchange, buy or resell tickets in the marketplace. This feature comes in the form of a Decentralised Application (Dapp) that is powered by Ethereum Blockchain.
In upcoming years, the company plans to introduce a hotel/event management system and other features.
The TripBit token (TBT) has three major uses:
- As a payment platform. Token holders have access to discounted prices whilst exchanging their tokens for real-life travel experiences.
- As the driving force for partnerships. TripBit makes institutional partnerships with bodies that will add value to the token. These bodies include airlines, event management firms, and hotel groups. These affiliates can license the TBT for their own companies so that users of TripBit can select from a diverse pool of merchants.
- Return on investment. The value of TBT readily adjusts and aligns with fluctuations in the Travel and cryptocurrency market. This ensures that at any time, users get reliable ROI for their investments on the platform.
The Price of 10,000 TBT is valued at 1 ETH. During the ICO, tokens will be purchased only with Ethereum, from an ERC-20 enabled wallet. The ICO is executed as follows:
– Pre-sale Start: 21st March 2018
– Pre-sale End: 24th April 2018
– Main sale start (launch of ICO): 1st May 2018
– Main sale end: 3rd July 2018
Early buyers of tokens get larger bonuses for their participation. Tokens will be distributed to wallets of the participants seven days after the token generation event. A Bounty Program is available to incentivize and reward the most loyal participants with free tokens according to specific future requirements.
Significant features of TripBit
- Freedom to make payment with either local currency, TBT or other digital monies.
- Real-time booking plus trip planner.
- Internal reselling of unwanted tickets and reservations.
- Secured transactions with Cloud storage, Smart contracts and Blockchain technology.
- An offer of complimentary services including car rental, airport pick-up, delivery, tours, itinerary and booking services.
- Event promotion.
- Low costs due to the use of Blockchain and versatility of currency options available.
- Confirmation and verification of transactions in real-time on the Blockchain.
- Elimination of double booking errors.
Because the Travel and Tourism industry is one of the largest in the world, TripBit’s business model will contribute to mass-adoption of cryptocurrency by travelers due to exposure to the benefits of digital money as a form of currency.
Find out more on: https://www.tripbit.info/