One of the founders of TravelChain, Ilya Orlov, believes that Blockchain technology gives a amazing opportunity for travel industry players. Travellers can now earn money for sharing their experience directly and safely with travel businesses, and the companies can integrate new goods and services easier by using Blockchain.
Fast and strong
I. Orlov states that unlike others TravelChain platform has their own graphene-based Blockchain, which allows travel companies to integrate into the system and build their business models on top of the platform supplied by TC.
The distinction between graphene-based and a “standard” Blockchain is that Graphene-based Blockchain allows users to make the public information available for every part of the system, while safely encrypting the private information. Single users own the private keys to their data in order to control secure storage in real time. Ilya Orlov also said:
“At this moment there is no Blockchain faster and more powerful than Graphene-based. Moreover, the community of this technology is ideologically close to us. We share and build the hypothesis of gathering, storing and transferring data in the Blockchain.”
Other side of the coin
During the preparation for the trip travelers browse a lot of websites, blogs, forums, read articles, surveys, watch videos. All this content is created for free by millions of people because they want to share their experience with their mates, colleagues or even the whole world. But it doesn’t occur to them that they are creating value and don’t get any reward for it. That’s exactly what TravelChain is built for: to change this whole experience for the better.
But fellow travelers are not the only ones to make use of the platform. The small and medium-sized business can cut their expenses twice, improve and target their proposal and grow in jumps by using the data that the users are willing to sell.
Ilya explains how that works:
“Traveler Passport” is a key component of TravelChain functioning. It is a model with distributed trust which allows you to form an image of another person without being acquainted personally.”
The bottom line is to collect such profiles called “passports” by motivating travelers to share their experience in exchange for a reward. Users get travel tokens for sharing the info such as preferences (in food or entertainment, for example), location, the way of living and traveling, etc. The question which appears in minds “who needs this data and how it will be used?”
Orlov explains that the main buyers of this information are travel businesses, also using the TravelСhain platform. These companies will buy potential consumers data with travel tokens, and travelers, at their end, will get travel tokens as a reward. You can see the explanation of how it works with a real example:
“For instance, say you have a vegetarian restaurant, thanks to TravelChain you´ll find out that there are 150 vegetarians currently living in the neighborhood. You can purchase the more specific data like their tastes and preferences in exchange for Travel Tokens. Once you get the information, the users will receive the tokens as a reward.”
In accordance with Orlov, data is a private issue. Travellers might be disagree to share their personal experience with the third party. Orlov believes the user is to decide which information they are ready to share and with which categories of he fellow platform members. Apart from this, once shared, the personal data will be as secure as it could be using Blockchain.
The way ahead
Orlov states, Blockchain universe developes within the travel sphere, TravelChain makes it possible to integrate new goods and services without surplus investment expenses or overly complex implementation efforts.
“We have ambitious plans for 2018. The key point is that we do not compete with anyone, we are striving to make the market and services better by integrating the industry.”
Presently one of the top priorities for TravelChain is to integrate with travel businesses. At the moment, they have an deal with IZI.Travel, tourister.ru, tvil.ru, more agreements are under discussion and soon to be declared.
Another move in the list is their target to is the integration with EOS.io Infrastructure for Decentralized Applications. TravelChain is planning to allocate wise contracts for the most applications within the Travel Chain platform on EOS.
In conclusion, Orlov explained his view on humanity future through Blockchain development:
“Blockchain platforms like TravelChain could completely change the landscape of the travel market with users taking an active part in creating value, communicating and sharing data directly avoiding intermediaries and aggregators.”