R CUSTOMER RETENTION. POWERED BY THE BLOCKCHAIN AND FACILITATED BY SMART CONTRACTS.PAYMENTThe travel industry is one of the most fragmented industries in the global market space. Unless it is domestic travel, it almost always requires complex and expensive cross-border financial transactions involving various counterparties.
Multiple levels of transaction fees and middlemen cut significantly into all travel suppliers’ bottom line.All the largest travel suppliers in the world use a select few payment providers. They are very expensive and entrenched in the industry. Companies just use them because “they are there”. They charge annual fees ($150K / year) and transaction fees. Suppliers easily see 2 – 10% of the bottom line go to transaction fees. 30 years ago, these companies were the best solution. This is no longer the case.LOYALTYCustomers are unhappy with loyaltyprograms. The programs are unclear, hold little value and expire long before they add actual benefits to the regular traveler.
Travel suppliers benefit tremendously from loyalty programs but customers aren’t reaping any rewards. 99% of regular travelers will never benefit from these programs. They are only being told they are never good enough over and over again.Loyalty programs are doomed to fail every time because they do not have the best interest of their customers in mind. 69% of users are unhappy with their loyalty program after one year and the average person has at least 5 memberships to travel related companies and an average of 25 loyalty programs per household. Why is this? It’s because companies treat loyalty programs as an afterthought instead of the massive mobilizer it could be.The Travelkoin Platform consists of two parts.
The first part is a payment platform on the blockchain that allow travel suppliers to pay each other at no cost. The second part is a loyalty platform that incentivizes travelers and suppliers to book, pay and add value to the eco- system. We will build many more features on top of this platform to help consolidate the travel industry, but these two are core to everything we do.One feature completes the other and, as we add new services to the platform, loyalty is what brings them all together. Platform loyalty is created and we can see the beginning of a less fragmented industry.
Travelers are happy because they now have a membership rewards program with real value and suppliers are incentivized to give them great deals. Travel suppliers are happy because they have a superior platform to conduct business on at no cost. A “closed loop” eco-system has been created!The Travelkoin Platform is a set of APIs, SDKs along with user friendly web sites and mobile apps that allow travel suppliers to create accounts, manage their customers and smart contracts, create incentive schemes and make payments. As the platform matures, many more exciting new services will be offered to airlines, hoteliers and travel suppliers alike; all powered by the Travelkoin (TKT) token.STABILITYStability is the most important feature of global economies to be successful.
Without stability, individuals across the world could not have foreseeable costs while engaging in commerce and savings allowing them to make reasonable decisions. Keeping predictability and fungibility in mind, STU was designed to bring stability and better business planning to the world of cryptocurrency, to the world of travel and to all individuals who use the Travelkoin network.STUs are created by a mechanism similar to convertible notes, which are often used to fund startups. In the startup scene, convertible notes are short-term debt instruments that can be converted to ownership at a rate determined in the future, typically during future funding rounds. A blockchain-based token, like Travelkoin, can be considered as ownership in the community whereas a convertible note, like STU, can be viewed as a debt denominated in any other commodity or currency. The terms of the convertible note allow the holder to convert to the backing value with a minimum notice at the fair market price.Creating a token-convertible-currency enables Travelkoin to grow its network effect while maximizing the return for token holders. Standard Travel Units are referred to with the symbol STU. As STU is comprised of a basket of important fiat currencies used in global travel and tourism it does not only provide stability in the volatile market of cryptocurrencies, it STU provides stability, predictability and hedging functionality in the travel industry where foreign exchange transactions, and their inherent risks, are daily business-as- usual reality.
Creating the STU requires a combination of a reliable price feed and rules to prevent abuse.REWARDSThe Travelkoin Platform completes itself with a rewards system. It’s there to incentivize the community. Any action on the platform can be incentivized and thereby gamified. It will lead to better relationships between B2C and B2B and add more value to both parties.All the services to users are free as long as they earned some Travelkoin (TKT) tokens that power the platform. If they run out of tokens, they will have to buy more from us in order to keep on using the services on the platform. The ONLY way a travel supplier can get Travelkoin “for free” is to incentivize their B2B and B2C customers to pay them, fully or partially, in Travelkoin. Travelkoins are given when a “travel related” action occurs and value is added to the platform. This can be a booking or someone writing a review etc. Most of the value comes from travelers. In this case, suppliers do not want loyalty points (aka TKT) to expire.
They want to incentivize the traveler to use them instead. Both win.TRAVELKOIN TOKEN (TKT)The Travelkoin token is our reward token. The Travelkoin derives its value from the fact that people will always travel and that rewarding people for traveling is ever-present in the industry. Travelkoin is the equivalent of people gaining experience while traveling and “leveling up” with every trip. Our reward token gamifies the travel experience. A good analogy to Travelkoin is Ethereum’s ‘Gas’; it’s what runs the platform.Travelkoin is democratizing the loyalty programs that the travel industry giants have had for decades. By using one standardized loyalty point, Travelkoin makes loyalty programs available to any supplier of hotels, vacation rentals, experience-creators, airfare companies, etc.Travelers will first encounter this token after they have made some form of booking. As travelers learn more about it, they will start to seek out those travel suppliers who also offer the tokens, so they can “level up” and maximize their earning potential.Suppliers integrate with the Travelkoin Platform to offload their new or existing membership rewards program.Travelkoin is the token that will be available for investors during the ICO and listed on an exchange.
There is a natural scarcity with Travelkoin as they are only given out when travel actions occur in the eco-system. Like a frequent flyer mile, there is no limit to Travelkoin. One could draw some assumptions by looking at annual bookings by airlines, hotels, cars and rail and invest bullish or bearish based on where the investor thinks the market will go. More importantly, it is the demand for Travelkoin by travel suppliers who want to pay the platform in order to continue using its services that creates value. When a new killer app is launched on the platform, one can speculate that the value of Travelkoin will increase in demand and therefore in value.
TKT IS THE REVOLUTION!
We are going to unify the travel industry under one loyalty token, make the industry more profitable than ever, make the Travelkoin Platform a de factor industry standard and extremely valuable… and here is a step-by-step guide on how we will do just that:Step 1A. Once travelers become aware of a rewards program with points that never expire and can be converted to fiat, they will do the grunt work for us by telling their airlines and hotels to “get with the program”.Step 1B. Once airlines and hotels realize they can save a lot of money by transacting on our platform, they will do the grunt work for us by telling their other travel suppliers to “get with the program” so they can pay one another for free. Early adopters get 2 years of free usage.Step 2A. Travelers are busy creating bookings, leaving reviews, earning badges, leveling up, leaving tips or claps and generally interacting with a social platform that rewards all of their work with Travelkoin. Step 2B. Airlines and hotels enjoy the massive savings they are seeing and invest more resources to integrating more of their workflows onto our platform.Step 3. After the 2 years are up, travel suppliers need more “gas” to power the platform. They’re already used to “free” so they’ll be quick to look for alternative options that does not involve paying us hard cash for TKT. They’ll figure out that travelers possess tokens and that our loyalty program can be white labeled.Step 4. Travel suppliers start incentivizing their customers to hand over their tokens. They offer up rewards through Travelkoin integration partners, such as Traveliko, or they convert their existing loyalty program to our white labeled one on their own sites. Travelers start using the platform more; adding more quality to their reviews, earning them more tokens which they use to buy more expensive rooms and flights.Step 5. The customer now has a clear view on the rewards landscape; she knows the value of the token and she knows the value of the incentives given to her by hotels and airlines. In this game, all customers are not the same. Some travel more than others while others write great reviews. Frequent travelers and great reviewers carry more weight in the eco-system. An airline, hotel or restaurant knows this andare willing to incentivize them more as either spend more at the premises or their reviews bring in more customers. Either way, the incentives change with your ranking in the system; both parties are incentivized to level up on their performance.Step 6. Another way suppliers can offer their customers a better deal is through the customer’s profile. Some customers might prefer a soft pillow with a mountain view and are willing to depart with their tokens easier if such a room were available. A family profile might prefer child care on premises and it would be an easy sell for a hotel were they to offer them this.Step 7. During the previous steps, a lot of data has been generated which contains a lot of valuable user information that marketing companies would love to have. But, instead of paying us for it, marketing companies can integrate with our platform themselves and pay customers with TKT if they were to make their analytics profile available to them; another way to earn tokens.Step 8. Marketing companies can crunch those numbers and make it available to their own customers such as a bar or restaurant. When the traveler walks past their establishment, a notification could show up on their phone offering them their favorite beer and a discount on the burger in return for a review.By letting the customer come first, everyone wins! True loyalty is created. Cost of acquisition goes down. Lower ad spending as the platform is the primary vehicle. And a new focus on adding real value.
ICO TOKEN SALE ROUND
1The token sale will last for 5 days only. During the first 24 hours, investors can only send us 1 ETH. Once the 24 hour limit has expired, investors are free to invest how they see fit. There will be no pre-sale or bonuses for this token sale. Only HODLers are rewarded. The sale ends when all tokens are sold or the hard-cap is reached. If there are unsold tokens left over after the event, they will be burned.Our token sale is managed by a custom made Ethereum smart contract. Developers can contact us for access and verification.Ticket symbol: TKTToken origin: EthereumCryptos accepted: EthereumTokens sold: 31,000,000Minimum contribution: 0.1 ETHPrice: 1,000.00 TKT for 1 ETHHard cap: 35,000,000 TKTREFERRAL REWARDWe have set aside 500,000 TKT tokens to award those who help build the Travelkoin community in its early days. Every whitelist applicant will get a personalized referral link, and they will get 5% bonus after every contribution using that link, plus each contributor will also get an additional 1% bonus for using a referral link.Example: If your friend signs up for whitelist using your referral link and buys 10,000 TKT tokens during pre-sale, you will get an additional 5% * 10,000 = 500 TKT tokens. Your friend will get 1% * 10,000 = 100 bonus tokens. Remaining referral reward TKT tokens will go to the HODLER reward fund 9 month lot.HODLer REWARDTo keep prices stable, we use vesting for founders, the team and our advisors and we reward those who HODL. By not touching the tokens in your wallet for 3, 6 and 9 months after the normal sale has ended, you will enjoy being part of the 3 million TKT token HODLer reward program. 300,000 tokens are available after month 3. 600,000 tokens after month 6 and 2.1 million after month 9. The longer you HODL – the more TKT you earn.DISTRIBUTION SUMMARY3,500,000 TKT: Reserved for HODLERS and referral reward500,000 TKT: Reserved for bounties12,000,000 TKT: Future founding rounds17,000,000 TKT: Community fund12,000,000 TKT: Team and advisors6,000,000 TKT: Founders3,000,000 TKT: Early contributorsWHAT WILL THE FUNDS BE USED FOR?EURO 4.5 MILLIONDevelopement and integration with travel suppliersEURO 4 MILLIONDevelopement of Blockchain EcosystemEURO 1.5 MILLIONTargeted marketing of Travelkoin and Ecosystem B2CEURO 1 MILLIONTargeted marketing of Travelkoin and Ecosystem B2BBecause we are a community of existing online travel companies, we don’t need money for office space and other basic needs that fledgling startup companies have. Instead, we can focus all our resources on developing a solid core product, writing great documentation, great APIs and integrating with early adopters within the airline and hotel industry. The core of this work will be integrating travel suppliers onto the network. Integration efforts are key to popular adoption and we foresee doing a lot of the early and large integrations ourselves. We feel we are lucky that this is a B2B effort. It makes marketing more focused and less expensive. Within our group, are 1 degree of separation away from anyone in our industry that we want to integrate with. And, that is really what the success of any project comes down to… how good is your network.