The commercial value of Backpack Travel tokenomics model is generated by integrating the user information, transaction data and platform system in the business operation ecology of the BTA platform, which is presented in the form of token.

Incentive Model of Enterprise Participation

1. When B-end service providers enter the BTA platform, they won’t be charged for any poundage and transaction commission. However, service providers need to purchase a certain amount of BP token from crypto exchanges as the frozen guarantee for platform service.

2. Different from the traditional operations on E-commerce platform，the B-end service providers can not only complete transactions on the BTA platform directly to bring down operating costs, but also become a verification node to obtain the corresponding authentication rewards.

3. When B-end service providers need to make accurate marketing promotion to C-end users, B-end service providers need to purchase BP token from parallel market to offer reward incentive in order to obtain authorized advertising opening right. It will be market-driven bidding for different service providers. It will be C-end users’ initiative to decide which offer they want to accept and choose to whom to open their personal information section selectively. This is conducive to B-end service providers to make accurate and effective marketing promotion and facilitate deals, on the other hand, C-end users can get the advertisement and promotion for the service products they want while their personal credit assets appreciate, which is a win-win business scenario.

Incentive Model of Tourism Users

1. Tourists consumption habits, the user credit rating and other data of C-end users are converted into personal credit assets, which can be realized into cash in crypto exchanges or consumed on BTA platform for equivalent tourism products. Whether it is fragmented consumption on once-a-few-year or a yearly basis, it will be recorded on the BTA chain and translated into permanent personal credit data.

2. After C-end users obtain the BP token, they can either convert the token in cash in crypto exchanges or exchange equivalent travel services on BTA platform, such as airline tickets or hotel accommodations. In this commercial scenario, BTA platform provides channels and options for individual credit assets liquidation.

3. When C-end users choose to register the APP of Backpack Travel, their registration information can be transformed into data value naturally. With the tourism consumption behaviors on BTA platform, each consumption is a mining that will trigger the mining mechanism to receive token rewards according to the computing power of generalized mining mechanism (POS).

4. When a forward delivery occurs between the user and the merchant, taking hotel reservation as an example, a certain amount of BP token offered by C-end to B-end service provider can be frozen as the purchasing guarantee without using legal tender. It will then be unfrozen when the transaction is completed.

5. As the users’ personal credit consumption data increase, B-end service providers will need to offer more BP token to carry out accurate promotion to C-end high net worth users. It forms the circulation increment of BP token in a closed-loop commercial operation.

6. BTA platform will be landed at the end of 2018 with initial user base of 1 million, and the total amount of BP token issued will be constant at 2 billion, of which 800 million will be produced in POS tourism mining. With the landing of BTA, the increase in the number of users can directly bring about the appreciation of BP token.

7. In the current airline loyalty program, the airline bonus points given to the market have not brought about any substantial economic conversion for B-end service providers. Both B-end service providers and C-end users are able to profit through taking BP token as intermediary of value embodiment. When the airline bonus points are converted into a certain proportion of BP token according to the backstage computing power, C-end users can continue to purchase travel services and airline tickets to facilitate the secondary transaction. This changes the status quo in the traditional operation that the service providers give out points and products but still fail to obtain customers and increase turnover.

Ecological Model of Backpack Travel

Data are composed of information. The superposition of transaction data are naturally converted into credit, and credit is not only value but also can be used for consumption and settlement. The higher the credit value is, the greater the commercial value of the user is. Every transaction information of the user is the basis of credit, so users on BTA not only produce data, but also produce credit in transactions. In the traditional business environment, the value of credit assets cannot be quantified. Moreover, the centralized business organizations have turned into the organizations’ value of commercial use, which does not bring any profit to the customer-end users. In the ecological world of block chain, all users’ consumption behaviors are the contributing value, and the value generated should belong to the users themselves.

The transaction must be bilateral or multilateral, and BTA platform itself does not sell tourism products and services in the entire trading system. The role of BTA platform is to protect the trading behavior of both parties, so that the transaction data can be confirmed as a digital asset of its value. In the operation of traditional tourism industry, the most taboo part of the platform is the direct contact in between buyers and sellers. Nevertheless, BTA platform provides free intermediary services for buyers and sellers, as well as contractual guarantees for both parties, so that the transaction data are fair and equitable. Also, the value of each transaction data can be effectively confirmed by both the buyer and seller.

On the BTA platform, transaction data and business value of the B-end service providers can be reflected accurately. The user turnover, cost of obtaining customers, accurate user volume, business liquidity and market value of each quarter can all be reflected in the chain. Personalized travel and package travel will be the trend of tourism consumption, and BTA platform can provide value-added services guidance based on data analysis for service providers. The customer consumption habits, credit rating and other data of users are converted into personal credit assets and can be realized into cash in crypto exchanges or consumed on the BTA platform for equivalent tourism products. Whether it is a fragmented consumption on once-a-few-year or on a yearly basis, it will be recorded on the BTA chain and translated into permanent personal credit data. The computing power of BTA backstage platform and the precise flow will be the consensus mechanisms that bring win-win situation for both buyers and sellers. It is accurate to say that BTA is not only a trading platform, but also a credit consumption data service platform, a game changer of the tourism industry.