The fastest growing blockchain-powered sustainable economy for 1.2b travelers
A blockchain-based decentralized travelling system for mass adoption pioneered by 100 travel innovators
Let’s face it: the modern tourism industry is too large and largely broken.
Plagued with old technologies and outdated ways of doing businesses, the travel experience has been reduced to a menu of prefabbed tourism packages marketed to consumers through the digital shouting match known as SEO. What’s more, consumers are giving away their insights to a handful of data-rich corporations for free.
Travel has improved over the years in some ways, but it has weakened its offerings in other ways. It's great that a journey from Europe to the U.S. takes eight hours instead of several weeks in the hull of a rat-infested sailboat, but modern tourism is also doing little to protect the world’s cultural diversity and growing unsustainably. For example, how can Stockholm find rooms for tourists when it's already so crowded visitors can barely move down the street? And with the packaged, tight itineraries that do little more than just bring visitors from one attractions to the next, how are visitors supposed to take in their environs?
Why not promote the mom-and-pop restaurant? And instead of selling their web searches to third party vendors, why not just pay people for talking about their vacations?
The vision we’re building at Triip seeks to do all this and more.
We at Triip think this can be done better through blockchain to find the Holy Grail of tourism: sustainable, profitable, and authentic travel.
What if instead of being one of the thousands who are paying for a shot at appearing somewhere within a Google search, this same restaurant was alerted when the client booked airfare to their area and had a chance to offer them a special invitation with a discount to this traveler, all while the client remains anonymized? What if you can see ahead how many people will be at a destination ahead to avoid congestion?
This is the world we’re building a blockchain powered travel economy through Triip Protocol.
Triip Protocol works for both travelers seeking a unique experience and the service providers that want to do better than game the SEO to reach them. Using cutting-edge blockchain infrastructure at the foundation, Triip Protocol seeks to disrupt this information network through a blockchain-based system that:
Triip Protocol is co-created by Triip Pte. Ltd, the pioneer blockchain firm and with 100+ travel innovators worldwide. The profitable travel blockchain startup licensed by the Singapore Tourism Board was founded in 2014 and has since taken in $835,000 in venture capital funding and enjoyed nearly 400 percent in year-over-year growth. Triip has grown into a global brand that travelers and respected publishers like The Wall Street Journal, CNN, TheNextWeb, Forbes, Al Jazeera, and Thomson Reuters all love. Triip is also a key member of the Pacific Asia Travel Association and the official member of World Committee on Tourism Ethics, a program by the United Nation World Tourism Organization. Triip’s CSR project SaveYourOcean.com to reduce the use of plastic bottles to save the ocean has won the top prize at Sustainable Development Goal Challenge 2017 by United Nation Development Program in Vietnam.
Triip’s dream is to become the biggest sustainable travel ecosystem in the world which focuses on job creation, cultural immersion and eco-friendly impacts. With our smart-contract based protocol, we simplify businesses’ operations and empower the community worldwide to create a new travel economy. Tokenization helps to align interests and build a sustainable tourism ecosystem.
A deep love of the environment and a recognition of the need to take strong, immediate action to protect is at the heart of everything we do. By partnering with us, you’re joining us in our mission to meaningful solutions to the the growing ecological crisis.It means a lot to us, so we’re offering all who sign the Triip Pledge an amount of token. You’re already doing a lot by reading this white paper, so please accept this gift as our show of thanks.
On top of that, we’re contributing 1% of each booking conducted on Triip to a Sustainable Fund that we’re using to advance a series of sustainability projects, including plastic waste reduction program SaveYourOcean.com. We’re a blockchain and travel company, but we’re also much more than that. Similarly, you’re more than just a traveler and a consumer. You’re an important part of the change we all need to make together to chart a different course for the Earth and all those who share our home.
For myself and my posterity, I am taking this pledge to reduce my environmental impact and protect my immediate area and those I visit.
I will always travel with an interesting in learning about, respecting and protecting local cultures that have established a place there before me.
I will leave behind just my footprints. I will take only the memories I’ve created in the place.
CO-FOUNDER & CEO TRIIP
This section describes the technical design of Triip Protocol system. We aim to accelerate sustainable travel by providing an incentive-driven decentralised system which encourages all stakeholders sharing data and participating in the new economy.
Triip protocol will enable anyone from non-travelers, locals, businesses to research institutes to participate in the new decentralised sustainable economy.
Not only the current travel economy is unsustainable but also has a limited players participating: travel business owners & employees, OTAs and travelers. These travel businesses are currently competing for the same keywords on Google, same Targeted Audience on Facebook and the same Banner Ads on Content sites. Large companies are spending hundreds of millions of dollars search optimizing their web presence in this digital arms race.
Therefore it’s impossible for small businesses to be seen and heard.
Discarding the centralization of data, the Triip Protocol will have a thorough incentivized system that tracks proof-of-travel, quality as well as productivity embedded in it.
In traditional traveling systems, there are no benefits for travelers to share their traveling data. Therefore, data are disparate stored, which is hard for service providers, advertisers and data analysts to analyse data and improve traveling services.
With Triip Protocol data exchange, travelers can choose to share their traveling data with other participants through the data exchange protocol as previously described and earn some benefits in terms of tokens.
Advertisers can deposit tokens in order to be able to push their ads about their services to travelers’ mobile application. Travelers can earn some promotion/discount if accept the ads. Traveling data can then be aggregated together so that data analysts can produce better results, which in turn help service providers to offer better services.
With Triip Protocol, all elements of the travel economy will be presented in a network where each aspect can be tracked and verified by any individual. Quality and transparency will be visibly demonstrated. Each group within the Triip Protocol economy will collaborate, process functions and be rewarded with TriipMiles as their work is verified. This is accomplished by smart contract and cannot be controlled or affected by any outside entity.
Sharing Economy has been popped out as a critical step in achieving Modernized Economy. Sharing economies allow individuals and groups to make money from underused assets. In light of achieving this, we think that data are a critical component and an asset in the sharing economies. That said, underutilized data can be shared among participating parties that aim to communicate different services provided by the participating parties in order to concentrate on customers and provide them better services. The more data is shared among parties, the better services the participating parties can offer to customers, by providing the data to data-intensive computations such as machine learning and big data. Eventually, data sharing economies benefit all participating parties.
This similar situation is happening within the traveling industry where Triip has been experimenting with it. Most current traveling systems do not provide enough transparency and verifiability of travel-related data. Sharing user’s experience and product information among the traveling companies is not available in the current systems due to the mistrust problem between the participating companies, the incentivization of sharing data, the disincentivization due to market competition, and the illegitimacy of sharing user data among competing traveling companies.
The potential of Data Sharing Economy in our vision is also justified by Charles I. Jones and Christopher Tonetti in their very well-thoughtful and visionary paper. The authors argue that “Who should own data? What restrictions should apply to the use of data? We show that in equilibrium, firms may not adequately respect the privacy of consumers. But nonrivalry leads to other consequences that are less obvious. Because of nonrivalry, there may be large social gains to sharing data across firms, even in the presence of privacy considerations. Fearing creative destruction, firms may choose to hoard data they own, leading to the inefficient use of non-rival data. Instead, giving the data property rights to consumers can generate allocations that are close to optimal. Consumers appropriately balance their concerns for privacy against the economic gains that come from selling data to all interested parties”.
The current situation of data marketplace is that every day 2.5 Quintillion bytes of data are created, and 90% of the world’s data today has been created in the last 2 years alone. The actual data production growth is 4x faster than our world economy and substantially contribute to a fast move in economic power and source of economic value. A lot of this data is created by individuals or organizations, but owned and stored by large private organizations.
Andrew Lewis stated that “If you are not paying for the product, you are the product.”. That is exactly what is happening within the current digital frameworks such as Google, Facebook, and Baidu, in which users are the original ownership of their created data but large corporations such as Google, Facebook, and Baidu are exploiting, selling, tampering and extracting on the data for the profits of the corporations.
Based on these observations, we propose here a decentralized ecosystem that aims for data exchange and sharing. The ecosystem does not only benefit the travelers, who are the original creator of shared data, by providing them better services with less cost and a direct way to control their private data, but also incentivize participating actors who wish to share and/or profit from underutilized data through an incentive system. We aim at eliminating intermediaries such as Google, Facebook and Baidu, thus returning all costs, which have previously been paid for them, to the participating actors, through the use of the Blockchain technology and its tokenization application.
At Triip, we have been approaching the applicability of blockchain technologies to the travel industry. In the followings, we show how the Triip Protocol is applied to a specific scenario. The system requirements are as follows:
The ecosystem operates in a decentralized way in which components and actors interact with each other. The following describes each of them:
Traveler personal data and Supplier sensitive data are encrypted and not publicly accessible.
Travelers can choose to publish their experience data with the purchased tour once the tour ends or during the tour. Our incentive system is designed in order to encourage travelers to share their experience. The latter again can allow different stakeholders (e.g. data analysts) to analyze the user experience data in order to improve the quality of the provided services.
An advertiser must deposit a minimum amount of token in order to be able to access to the data stored in the decentralized infrastructure. Primarily, an advertiser can be a new/small traveling company that starts providing tours. Traditionally, these new companies must rely much on the current advertisement giants such as Google and Facebook, which have most data and user base. Spending a substantial part of cost for marketing is not a sustainable for such small companies. Triip Protocol allows those small companies to participate in the Triip Protocol ecosystem with a much cheaper and reasonable cost, by depositing TIIM tokens into the Triip Protocol smart contract. A deposited advertiser/company then can query the data based on the ads that they want to offer the participants to filter the most potential travelers for the advertised tours. When the filtered travelers are interested in the tours of the ads, they can buy it with a discount by using a referral that was created when they publish the information about their experience with previous trips.
1.4 DECENTRALIZED INFRASTRUCTURE:
This is the most important technical component of the system. It consists of a data infrastructure such as IPFS/Swarm for transaction and user experience-related data storage, the TomoChain scalable blockchain infrastructure. Triip Protocol has been testing Tomochain blockchain infrastructure since June 2018. Current Triip Protocol infrastructure can process all 2,000 transactions/ second at the moment at near-zero fee ( US$0.000000000015). Mainnet stats: https://stats.tomochain.com
In 2019, the speed can be pushed to 30,000 transactions / second via Sharding upgrade. We also run a Masternode on Tomochain to ensure the stability of Triip Protocol network without giant investment.
Triip Protocol Masternode address: https://master.tomochain.com/candidate/0xc788ceae4edc0f84fa86234df57a76181ae353a9
This strong infrastructure allows Triip Protocol to develop and deploy DApps and to issue tokens, create data access control layer and an identity management layer.
These subcomponents will be described later in the technical design section.
1.5 INCENTIVE SYSTEM
The actors in the ecosystem are motivated through an incentive mechanism as follows:
All private information of the actors (traveler personal data and tour provider sensitive data) in the Triip Protocol ecosystem is not disclosed to people that are not authorized for access. The technical design section will show how cryptography can be used for keeping data privacy.
1.8 TECHNICAL DESIGN
The decentralized infrastructure consists of the following technical components:
Data privacy is ensured through the use of public-key encryption techniques such as RSA or ECC. Assuming that there is an PKI (Public-Key Infrastructure) in the system, each actor possesses a public-private key pair of which the public key is shared with every actor.
Data can be shared privately between two participants. Two scenarios can be applied to this issue as the following steps, which assumes that A with a public/private key pair (pkA, skA) wishes to share data with B with public/private key pair (pkB, skB).
 Charles I. Jones, and Christopher Tonetti. Nonrivalry and the Economics of Data. Online Available http://www-leland.stanford.edu/~chadj/JT_Data.pdf