With more and more people going online, the amount of data these users generate is huge. And all this data like uploading and tagging photos, tracking and sharing your location, access to transactions history, etc. is in great demand by companies. People usually give away this data to companies in exchange for centralized access to applications and services. There doesn't exist a marketplace where users can actually make money by selling their data. All this is about to change.
TravelChain is a decentralized data exchange exclusively for the travel industry. It believes that personal data is the oil of 21st century, and it is true as this data holds the potential to act as a catalyst in helping a company attract more customers and providing them with the right services. However, most of this data circulates within corporate systems like Google, Apple, Amazon, and only 20% is available publicly. TravelChain wants to unlock this potential by creating a global database that contains the most comprehensive and unbiased information about suppliers and customers of the travel market. This data will be collected and stored by AI applications and predict user preferences to provide accurate recommendations. This is a public open source blockchain under the management of the Ecosystem's users.
CURRENT STRUCTURE
Presently, people are giving away their data and building models for services they use, for free. Everything they do online, from social media to email search is being used by companies to build their business models around it. A good example is Amazon: it uses viewing and purchase history to create models of related products for you. The profit generated from these products is used to build their logistics supply chain, improving their infrastructure. These companies wish to own the entire ladder from device to application. Once all data is acquired from users, all profit goes towards the company, and the contributor gets absolutely nothing.
TRAVELCHAIN
The ecosystem (mobile application) will consist of information consumers and information providers. Consumers can be companies or users that wish to acquire information from other users (providers). This way, users will have complete control of their data and will earn money or compensation in exchange for their data.
TravelChain is a great opportunity for different players in the market:
Travelers : users will earn tokens for each permission to use their data which can be exchanged for money or tourist services. Since TravelChain already has your data, it can provide you with personalized tour kits, specifically designed to your needs and specifications.
Businesses : Since companies now have access to personal data, they can save on advertising. Companies can get this data processed via AI which can help in creating tour packages.
Developers : TravelChain is one of the very few decentralized services that provides a great opportunity for developers to test and monetize their work. Developers can create widgets, personalized maps, guidebooks, notification systems, etc.
ICO
The token symbol is TT and 1 TT = 31000 TT and payments will be accepted in BTC and ETH. The ICO started on 10 December 2017 and will go on until 10 February 2018.
The hard cap is $10,000,000 and participation in the token sale is forbidden for US, China and Singapore residents. Total tokens issued will be 2,100,000,000 of which 693,000,000 tokens will be up available for token sale. 30% of these will be for development fund, 17.69% for pre-sale, 13.8% for the team, 2% for advisors, 1.51% for early investors and 1% each for reserve funds and bounty program.
The issue is set at 10% every year. This size will permit to draw in extra means for improvement and won't be vital for clients who bought Travel- Tokens prior. Because of the way that TravelTokens continue to the Development Fund on a consistent premise, the number of clients will increase, resulting in an increased value of Travel Token.
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Conclusion
TravelChain's main way of working is collecting data from users and selling it to other users for TT which can later be redeemed for money or services. It is basically a data collection and storage ecosystem based on the blockchain. The only key difference between this and other data collecting services is that it is exclusively for the travel sector. This can become somewhat of a problem as the travel ecosystem is a much-localized business in marketing and contents. They also have to be wary of other similar products like SynapseAI which is also a decentralized data collection service. Keeping all these things in mind, you have to be pretty careful before investing in TravelChain.
Website: http://travelchain.kr
Whitepaper: https://travelchain.io/WhitePaper.pdf
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