Travel is going places. The 7.6 trillion dollar industry is enjoying the blockchain revolution, and things are about to get global. With opportunities opening up for companies to improve flight bookings, P2P travel tips, and of course currency exchanges, travelers can expect exciting things in the near future.
Here are a Few Upcoming Travel Industry ICOs to Shake up the Travel World:
Ever been in a foreign city and tried to find an ‘authentic’ no frills eatery? There’s always one listed in your guidebook, but you don’t need a guidebook to find it: it’ll be the one packed with tourists! The eatery itself may not have any more or less to offer than the neighboring restaurants. It just happens to be the one the Lonely Planet writer went to, so now it’s where all the tourists go.
Centralized travel advice, like Lonely Planet and its grandchild, Trip Advisor, depend heavily on biased views, and had the power to transform local economies based on whim and chance. Millennial and Gen Z travelers are looking for a more personalized travel experience, and Cool Cousin has stepped in to fill the void.
It’s a decentralized, peer to peer network through which you can find a local to give you travel advice or even be your city guide. The company has been around since 2016, and has enjoyed healthy growth already, so now that they’re launching an ICO it’s going to be one to keep an eye on. Token sales are open now, and the wallet and first transactional features are slated for third quarter 2018.
Any traveler knows where most of your money really goes: exchange fees, ATM fees, booking fees, other fees, and fees for your fees. If you’re not careful you can lose your budget halfway through your trip. In an effort to curb this scattered and draining experience, TripBit is creating an all-in-one platform for global citizens.
Their three prong approach integrates flights, hotels and events into one platform. It’s designed to save travelers time and money, because instead of paying fees for all these services separately, you can book everything as a bundle through TripBit. This also alleviates headaches like double bookings, and streamlines the whole process into a seamless experience.
TripBit is set up to accept a small variety of cryptos in addition to fiat currency, and of course their own TBT tokens. There should be plenty of room for them to expand down the road into other avenues like tours, car rentals, etc. TripBit’s ICO launches in March.
Remember traveler’s cheques? They were the paper notes that cave people carried around so they didn’t have to buy foreign currency. Now that we have the blockchain in place, isn’t it time we had a crypto that worked as a universal travel currency, sort of like traveler’s cheques once did?
Cue GlobeTrotter. Instead of building a schmancy app or boutique P2P service with a blockchain engine, GlobeTrotter is focused on cryptocurrency itself. Their goal is a tad lofty: to create a stable, universal cryptocurrency with mainstream acceptance as a travel currency used around the globe.
The strategy behind this involves a three coin system. First they’ll offer tokens, like normal, which will fluctuate (“hopefully upwards”). Next will be GlobeTrotter coins, with a fixed and stable value based on the top ten global fiat currencies. The coins won’t be available on any exchanges–you will only be able to buy and sell them directly from GlobeTrotter, at their preordained rate. Third will be gift coins, which are like gift certificates that vendors can distribute freely on their own terms, redeemable only at their shops.
GlobeTrotter is also touting added security through a backup system to recover lost wallets or keys, and “smarter contracts” optimized for ultra-user-friendliness. Their mission hinges on their ability to create a stable crypto that finds mainstream acceptance, but if they pull it off they could make history.
Other noteworthy ICOs include CryptoBnB, which has positioned itself to usurp AirBnB with a swifter, more secure blockchain approach; also check out BaliCoin, a travel service bundle which has already launched its ICO. As always, it’s important to do your own research before deciding which, if any, companies you want to invest in.
With faster, easier, decentralized travel services already popping up around the globe, the world already looks easier to navigate for the travelers among us.