The blockchain landed in the area of ​​travel accommodation reservations

Edit: pencil casen
Everyone has the experience of booking accommodation for travel, but you may never have thought that at the time of booking, you spent as much as 20-30 yuan per spent 100 yuan actually paid to the online booking platform, the rest can give To provide the core services of the store. Now, when the era of blockchain comes, there should be a better solution in the area of ​​accommodation and travel, and the use of blockchain technology can improve industry efficiency and save consumers’ costs.n
Tripio came into being. As a blockchain-based marketplace for decentralized travel services, Tripio takes a direct link between global travel service providers (businesses or individuals) and consumers through a decentralized blockchain network with travel accommodation reservations as the gateway Future travel service ecology based on trust, motivation and zero commissions.n
Tripio project introduction videon
Travel market size and growthn
According to statistics, in 2016, the total revenue of the global travel market was $ 7.6 trillion (including direct and indirect contributions), accounting for 10.2% of global GDP. 76% of the revenue comes from online travel platforms. WTTC and Oxford Institute of Economic Research jointly released the 2017 Economic Impact Report, which investigated the global economic impact of tourism from 25 regions and 185 countries. The report notes that in 2017, tourism grew by 3.8%, creating a total of 7.9 trillion U.S. dollars. It is estimated that by 2022, the global tourism market will grow at an average annual rate of 3.6%.

Current travel accommodation booking market pain pointsn
Bilateral credit issuesn
As people’s travel needs continue to rise, the trust between the hotel and the guests, landlords and tenants is fully delegated to third-party central agencies, including the mainstream OTA. However, in the process of pursuing high commission return, the centralized intermediary platform can not fully guarantee the credit verification of suppliers, landlords and tenants, and will not reduce the credit risk by sharing credit data. Therefore, a lot of deviations The credit principle continues to happen.n
scene one: n
Users in a travel website to book a hotel’s standard room, the site shows the room inventory and chargeback, when the user arrives at the hotel, was told no room. Based on the game with the intermediary platform and the hotel does not trust, do not want to provide real inventory, resulting in the interruption of the entire booking credit chain.n
Scene two:n
A user has booked three rooms in the hotel, prepay the room rate on the booking site, but upon arrival the hotel was told to increase the room price and have to pay an additional fee to stay.n
Scene three:n
A landlord in the sharing of short-term rental platform release listings, and multiple cameras in the room to install, on the tenant continuous privacy monitoring.n
Scene four:n
A tenant in the sharing of short-term rental platform reservation room, the landlord will hang out in the room at the check-out calligraphy stolen theft, to bring damage to the landlord.n
Comments fraudn
When consumers purchase services through an online travel platform, ratings and reviews are the most important factors that influence the decision making beyond the price. The significance of the comment is that the user’s personal experience can be shared more effectively to reflect the business products and services. High-quality reviews can help consumers make the best purchase choices. With the rise of competitive incentives for service providers, manipulation reviews become tools and means to attack competitors and boost sales volume.n
Commission highn
Commission rates have been consistently high in the centralized travel accommodation booking market:n
-OTA Platform Commission: 15% – 20%n
– Shared short rental platform commission: 10% – 30%n
Transaction fees highn
In the current centralized service transaction process, the cost of transaction costs up to 6%, for example:n
– Financial Institutions Fee (3%) – Financial Institutions such as Visa, Mastercard receive a fixed fee for managing transactions.n
– Foreign exchange transaction fee (3%) – Forex transaction fee per transaction is required for cross-border transactions.n
High operating costsn
In a centralized trading market, the operating costs of the intermediary platform account for most of the entire cost. To OTA industry, for example, Ctrip in order to ensure operational capacity, established a more than 10,000 operations center.n
Tripio how to use blockchain to solve the pain of travel booking industryn
Our goal n
In the area of ​​travel accommodation reservations, we will use blockchain technology to reconstruct incentives, rebuild credit mechanisms and reduce economic costs:n
Reconstruction of incentivesn
The current value of shared economy for community participants has not increased with the market. Tripio will refactor the incentives to adjust the optimal market allocation of value through TRIO Token and provide ongoing incentives for participants in the shared economy.n
Reconstruction credit mechanismn
Tripio uses a public distributed ledger from Ethereum to build a credit system that provides eco-participants with a trust-based and secure user experience.n
Reduce economic costsn
Based on the Tripio smart contract, TRIO Token is used for accommodation bookings, service providers do not pay any commission, and greatly reduce operating costs; users will get better service at a lower price.n
Product solutions n
Tripio’s ecosystem is supported by the ERC-20 Token code-named TRIO and consists of four core systems:n
Service and Identity Registration Systemn
Services through the system for service content and the terms of the listing (Listing), the user will need to complete the contract KYC (Know Your Customer) certification. The user information will be encrypted and stored, and the service provider can access the user’s personal information based on the service and compliance requirements only after authorization.n
Payment and trading systemn
Consumers can use any legal currency or mainstream currency to purchase services. Tripio through the payment and trading system, and according to the needs of the service side or the user side to provide legal currency or mainstream currency payment and settlement, payment and trading system will lock the funds until the service is completed and confirmed by both parties after the release.n
Credit systemn
After the transaction is completed, both parties can rate each other and comment. Ratings and comments will be saved to the blockchain. The ratings and reviews made by every participant in the Tripio ecosystem form the basis of the overall eco-credit system. The creditworthiness of participants will be reflected in the economic behavior of the ecosystem.n
Dispute Resolution Systemn
When the service is in dispute (eg, renters have damaged the renter’s furniture, the hotel does not provide the promised WiFi service, etc.), the system will be adjudicated through the automatic formation of dispute resolution committees. Proponents of the dispute are required to provide some TRIO Token as a reward for dispute resolution services. The committee’s voting rights are governed by the number of TRIO’s held by the members and their level of credit.n
The advantages of the teamn
Unlike many blockchain start-up teams, we already have established businesses that go beyond vision and roadmap, and on this basis we are rapidly expanding and advancing globalization.n
We are currently operating a shared space booking platform Baihui Department, the media called the real pioneer in the field of shared space. We have a team of more than 100 people and are the real practitioners of the shared economy. As of January 2018, Baihui Huiyuan has owned millions of users and over 128,000 shared spaces and has completed RMB110 million in financing. The investors include: Blue Mountain China Capital, Fengrui Capital, Capital, Vinh Phuc Capital, the source of shares and angel investors, Zhaopin CEO Mr. Liu Hao.n
Team and Project Consultantn
We have a team of hundreds of people and have a background in the online travel industry. Core members from Amazon, Agoda, Alibaba, Expedia, Hotels, Microsoft, Tripadvisor, eLong, Ctrip, where to go. Consultants team of top science and technology experts, tourism industry experts and senior investors.n
In the meantime, Tripio has secured investment from top tier investors including OKEx, BlockVC, INBlockchain, FreeS Fund, Blue Ridge Capital (China), Ceyuan Ventures, Node Capital and more, one of the world’s largest exchanges.n
For more Tripio details, please refer to the following ways or click to read the original text:n
White paper download:

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