Triip Protocol is a reverse ICO project of Triip

Triip Pte. Ltd — a profitable travel startup founded in 2014, licensed by the Singapore Tourism Board, is doing a reverse ICO. We have been helping travellers book authentic local tours, hotel rooms and accommodations seamlessly in 227 countries with database capacity of 1.8M+ hotels and 6000+ local guides in the last four years.

Our prominent investors: XSQ.io, Gobi Partners SEA, MAP2| Ventures, Gaiax Ventures, and Vynn Capital.

We are operating profitably and have had seed funding from both traditional venture funds & crypto funds.

Triip is known as a disruptor in the travel industry and has received recognition from various Tourism Boards in the form of awards and partnerships. Triip is an honour Board member of the Pacific Asia Travel Association (PATA) and active member of United Nation World Travel Organisation (UNWTO)’s Global Code of Ethics for Tourism.

Unlike many blockchain projects that are building from scratch, Triip is already profitable with a close relationship with tourism boards in the Asia Pacific. It has a proven business team which create a dynamic ecosystem and can claim to be the world’s first and largest exclusive local tours platform.

Our decentralized ecosystem, with the Triip protocol at its core, will be the respondent to 3 key challenges in the travel world. Triip protocol will aim to remove unnecessary friction in the travel space and align values in a way that creates incentives to local businesses, tour guides and travellers.

The three main issues of the online travel industry and our offered solutions

Inefficient Inventory Approval and Dispute Settlement High Customer Acquisition Cost High Cross-Border Payout and Hidden Fees

Inefficient Inventory Approval and Dispute Settlement

This is currently a capital intensive and inefficient process. Similar to other OTAs, Triip has encountered the bottleneck drawback which occurs every time a new listing requires approval. Even the giant OTAs are in fact still approving new accommodations and experiences manually. Moreover, for every dispute that occurs, the company is relying on expensive, full-time staff to resolve the issue. A big player estimated the cost to add 1,000,000 locally-immersed experiences is about US$ 1,500,000,000 while Triip’s old process will cost at least US$ 100,000,000.

→ Our decentralized approval and arbitration smart-contract API will automatically approve travel products such as hotels, local tour guides, verify travellers, and resolve user disputes. This system utilizes trusted digital blocks and confirmation protocols on the blockchain, with a rating determined by immutable review and scoring interchange between P2P entities (such as locals, reviewers, verifiers, travellers and arbitrators). We can help 3rd party travel service save hundred of millions dollar operation expense to annually.

High Customer Acquisition Cost

This process is currently monopolized by advertising middlemen. Hotels and Accommodations have to pay Google or Facebook huge amount of money to advertise the services. This increases the cost of customer acquisition for tour operators, local guides and hotel owners while reducing transparency. As a result, fraudulent transactions are possible.

→ Our P2P referral protocol guarantees that travellers will not only able to view tours and accommodations, but also make a direct booking from suppliers. Hotel owners and local guides can pay directly to the referral sources that provide actual bookings from real customers.

High Cross-Border Payout and Hidden Fees

Still an inefficient and costly process. Payment processors and other fintech intermediaries continue to take a significant middleman fee.

→ Secure, instant and cost-efficient cross-border payment is the goal. Triip protocol will allow authenticated and verified P2P entities to send and receive TriipMiles token after successful exchanges of services between the two entities.

Triip’s dream is to become the world’s travel open-source infrastructure. With our smart-contract based protocol, we simplify businesses’ operation and empower the community worldwide to create new travel businesses. Tokenization helps to align interests and build a sustainable tourism ecosystem.

What do you think of Triip Protocol’s solutions? We’d love to hear your thoughts in the comments.