TRAVELCOIN® HERO PROJECT:
TRAVELCOIN POINT SWAP
TravelCoin Point Swap is our hero project. Most travellers are members of at least one loyalty points program in each service category of airlines, hotels, and car rentals. Collecting points is simple - sign up as a member and earn points when you fly, rent a hotel night or book a car rental. Redemption is not always as simple. Sometimes loyalty points providers have restrictions on the use of their points; some providers do not allow transferring of points; most providers are exclusive meaning they only honour their brand of points; and, often the traveller just does not have enough points to redeem the reward they seek. With a universal TravelCoin, TravelCoin Foundation can bridge the gap between loyalty programs by developing a platform which will allow points from separate loyalty programs to work together.
The TravelCoin Point Swap initiative will develop a software and exchange platform for holders of loyalty points to exchange or “swap” their points for TravelCoin and vice versa. Through the relationships this project will build with travel retailers, TravelCoin holders will be able to use their TravelCoin to book or upgrade their hotel room, flight or car rental using TravelCoin Point Swap. The TravelCoin platform will be independent and universal. It will become one-stop shop for collecting loyalty points. Funds generated from the ICO will be used to focus on engaging with select hotels, airlines and car rental agencies who will support TravelCoin by participating in the phase one rollout of the TravelCoin Point Swap initiative.
It is the Foundation’s mandate to create ease of use for travellers and by developing a point swap facility, travellers can seamlessly share TravelCoins amongst friends and family while retailers enjoy the customer satisfaction spill-over effect and loyalty they receive from the pleasant customer experience.
TravelCoin Foundation understands the allure of gamification and will use this to promote global travel and connect people and experiences through its TravelCoin Go initiative. TravelCoin Go will reward travellers for participating in location-specific experiences throughout their travels. For example, when a TravelCoin subscriber visits certain restaurants, shops, or landmarks like castles, museums or monuments they can collect TravelCoins for each site visited. This is a fun and rewarding way to add new experiences to travel while helping venues attract tourism.
KYC ON BLOCKCHAIN
KYC is standard business practice for most businesses. The process of KYC is not simple, user friendly, fast or cost efficient for any business operating on a global scale. Many still operate with manual conventions which means sensitive personal data is at risk every day. The foundation will develop a KYC Smart Contract, with proprietary intelligence, aims to remove the barriers to providing an easy and reliable data validation process while ensuring privacy of sensitive data. We aim to build a global KYC standard for identification on blockchain. This will allow travellers easy and secure access to their KYC information whenever and wherever they need it.
TCF believes that Global Internet is a basic human right that should be made available free to everyone without barriers. TCF will work with existing studies and programmes that are paving the way to achieving this. We will reserve 10% of ICO funds raised to go towards specific programmes and will be instrumental in assisting with technology (satellite) and infrastructure.
Transactions happen all the time in every corner of the world. When one party is willing to exchange a fee or service for an item or service they desire, and there is a reciprocating party in agreement, some form of contract is entered into. To ensure both parties meet their obligations under the agreement, TravelCoin Foundation will develop TravelCoin Smart Escrow. The Smart Contract on blockchain will act as the impartial 3rd party executing the rules of the transaction of multiple party contracts (2 or more) from all sides. Implementation in the first phase will include travel-related agreements such as insurance and payments.
USB SECURE VAULT
There is always a need for security in the technology space. TravelCoin Foundation will develop a USB vault for ease of use and security. Many people who get involved with the cryptocurrency industry have marginal knowledge and information about the industry. Understanding how to keep private keys safe; where and how to store private keys; and, how to recover lost keys can be daunting. It can allbe overwhelming with a feeling of information overload. The Foundation plans to develop a USB device along with a secure and easy-to-use software to protect private keys for TravelCoins.
OWNERSHIP ON BLOCKCHAIN
Blockchain technology is a true revolution in the world of technology. Many people have the misconception that blockchain means digital currency. In fact, digital currency is one of the implementations of blockchain. Ethereum has taken blockchain use to the next level. Ethereum has provided that missing link in the shape of the Ethereum Virtual Machine (EVM) that was required to build applications using smart contracts. There are many practical applications that have already been built and in play improving life experiences while providing security, transparency and decentralisation. TravelCoin is one of those applications that at its outset is designed to improve the traveller’s experience. And, it is not limited to travellers but seeks to improve common day-to-day life experiences. TCF is building projects using blockchain technology while riding on the backbone of Ethereum’s innovative EVM and smart contracts. One such initial project is Ownership on the blockchain. In a world where some people in power abuse their roles and turn to corrupt practices; where leaders of governments and businesses alike take advantage of their authority without any care or accountability for the actions they take that hurt others; and where hardworking people are cheated out of their assets, the Foundation’s Ownership on Blockchain project will prevent the “dictator” mentality and protect vulnerable individuals from having their bank accounts, land, assets stolen from them either intentionally or from a technical error. Using the power of blockchain technology and transparency, TCF has now launched a pilot project where the ownership of assets can be logged on the blockchain itself, where registration of a particular asset to its owner is visible to the world and cannot be manipulated by a single centralised authority. The future development of this project is to bring this facility to people to create the record of their assets on blockchain as proof of ownership.