Trippki (TRIP) ICO Review – ICO Token News
Trippki is a new hotel booking channel and customer reward system that incentivizes sharing the value transaction in the booking process between guests and hotels – the players that actually create value. By disinter mediating the current OTA (Online Travel Agent) model, Trippki gives control back to customers and hotels, allowing not only value sharing, but reducing the costs associated with traditional centralised booking platforms. Such systems were not possible before the emergence of decentralised cryptographically verifiable computing that allow participants to cooperate and enter business relationships without trusting each other or relying on a third party. Trippki aims to solve common problems with traditional booking platforms and enable more sustainable relationships between customers and hotels.
What is Trippki?
At Trippki we love travelling, and we love the travel industry, but more and more the space has come to be dominated by middlemen who extract a significant portion of the value transfer for themselves.
We want to change that. We want the value to be shared between those that really matter – the guests and the hotels. The premise is simple, once guests have completed their stay they receive a kickback in the form of the native Trippki token, TRIP.
TRIP is reward point tokens, but as crypto assets, they can be spent or traded at the owner’s discretion. So they are unlike any other reward system. Each TRIP given as a reward is recorded in the rewards ledger allowing users to build a reputation on the platform and with specific hotels. This gives the traveler freedom whilst allowing hotels to tailor specific offers to their customers.
Ethereum provides the ideal technical infrastructure to build the solution as Trippki integrates with its existing ecosystem of D’apps. The Trippki Reward System comprises the following elements:
TRIP Token: – A crypto-asset allowing for the secure and robust transfer of loyalty reward value.
Identity Service :-Used to simplify the process of generating cryptographic key pairs and linking them to registered identities e.g. the hotels and guests. The solution will integrate with an existing identity service which would encapsulate the connection between cryptographic pseudonymic identities (ECDSA* key pairs) and user accounts.
Exchange :- Trippki ecosystem has its own payment processing and exchange system, where TRIP is bought and sold against other currencies, both fiat and other cryptocurrency. The service will integrate with a number of different exchanges for this purpose.
The Vault :-The Vault is a smart contract that holds 40% of the total supply of TRIP ICO Tokens. Its purpose is to supply liquidity during the bootstrapping phase.
Oracle :- An oracle is an authenticated data feed system that monitors the exchange and any number of external booking services and can query the identity service. This includes TRIP transactions on the Ethereum blockchain, and will, therefore, be informed of the reputation different identities acquire.
A core function of the oracle is to provide reliable data to The Vault and to The Reward Service. The oracle determines the Vault’s behaviour depending on the market conditions, securing against market manipulation.
Reward Service :- It ensures that every participant can use their preferred payment methods while being a part of decentralised reward and reputation system. Whenever a customer closes a transaction with a hotel (this can be payment at checkout, payment on a reservation or whatever the hotel wishes it to be) the service rewards the customer with TRIP tokens.
The service will accept payment in fiat currency from the hotel, along with the wallet address (from the identity service) of the customer to be rewarded. The service will purchase TRIP tokens either freely on the exchange or from the vault, and transfer those tokens to the customer’s wallet.
How Trippki Benefits Consumers?
Guest earn TRIP Tokens, a cryptocurrency reward token with an external value which:
- Are transferable
- Can be used to pay for hotel bookings on the Trippki platform
- Can be used to pay for ancillary hotel services
- Are tradable on cryptocurrency exchanges for liquidity
- Can be held as a store of value.
- Customers can earn additional TRIP Tokens by participating in the referral/affiliate programmes and spending on hotel goods and services.
How Trippki Benefits Hotels?
- Establishes a reward system with real value – TRIP Tokens
- Substantially reduces commission payable to OTAs
- Allows a direct relationship to be cultivated with the customer
- Positions hotels for the new crypto economy, including its social media reach
- Allows hotels to reward customers with individually tailored deals
- Can integrate and add value to existing hotel loyalty/reward programs
Blockchain Technology Background
Blockchain based crypto-economic systems allow the removal of intermediaries from business processes. The data that underlies those processes, be it asset management or identity and reputation systems, is decentralised and persistent. This means that no party can act dishonestly by controlling the data and that no single party has to maintain the data, because it is maintained on a public network.
This enables the creation of self-sustainable and autonomous digital economies. Trippki’s protocol includes: a tamper-proof reward point system combined with reputation and identity layer, as well as a mechanism that ensures liquidity and scalability. These components are implemented by using solutions that are based on a public blockchain.
The ICO countdown has already begun for this project. You can invest in this ICO to reap beneficial results in the future.
- Ed CunninghamChief Executive Officer
Ed has 20 years experience in the tourism, hospitality industry
- Alex KarichenskyChief Technical Officer
Highly motivated professional with deep expertise and strong interpersonal skill-set.
- Mark CrostonChief Commercial Officer
Mark has extensive experience in the travel industry starting out as a developer.
- Graham WoodHotel Industry Expert
Graham was formerly the MD at Tsogo Sun Hotels and a Sun International
- Vera TochettiBusiness Development, Latin America
Vera is a travel entrepreneur with over 15 years' experience in founding and leading operations.
- Bill PurvesChief Financial Officer
Bill is a senior executive with broad experience in commercial management
- Robin CormackCMO - Digital
Robin Cormack is a travel and marketing professional with 22 years experience
- Marc ReadingTravel Industry Expert
Marc is the owner of Talking Stick Marketing, a company that has represented hotels.
- Vladimir LiulkaChief Innovations Officer
Vladimir is a serial IT-entrepreneur with a strong background in Blockchain
- Hamish MacdonaldMarketing & Media
Marketing and Media expert helping to launch ground-breaking companies around the globe
- Charles WhitmoreTechnical Expert
A technology leader with a strong dev background in finance and startup sectors
- Dan EveCommunity Manager
Cryptocurrency miner and investor since 2013 with X11ASICs and GPUs currently in operation.
- Peter WrayLoyalty Rewards Specialist
Peter is an experienced independent customer loyalty marketing professional.
- 1June 2018
MVP Go Live
- 2July-Aug 2018
- 3Sept 2018
Trip Token Distribution
- 4Q4 2018
• 1st Wave Hotels
- 5Jan-June 2019
• Full Scale System Development
• On-board 2nd Wave Hotels
• Implement Affiliate and Referral Marketing Strategies
- 6July-Dec 2019
• Massive Upscale of Hotels
• On-board Booking Platforms