GOeureka - Hotel Booking Loyalty Programs with Blockchain Technology
GOeureka is a travel tech
company utilising blockchain technology to build a hotel booking platform. Our
mission is to decentralise the hotel booking sector and deliver greater
transparency by allowing hotels to directly connect with their customers. As a
technology partner to hotels, GO aims to provide a dynamic digital experience
to users and eradicate the high commission structures imposed by online travel
agents.
The growth of online
travel agencies is a perfect example of how new technology can disrupt an
existing industry. These online agencies have a huge advantage over the normal
hotels since they are able to offer consumers low prices and more options.
However, it is not all
rosy for the online travel agency; the traditional hotel sector is slowly
adopting the online technology. However, these hotels are still lagging behind.
They need to work faster. Otherwise, intermediaries that get them in touch with
customers could start making more than them. The GOeureka team thinks they may
have found something that will give the hotel an edge over agencies. To do
this, they have decided to augment the existing loyalty programs with blockchain technology.
The aim of the GO project
is to utilize the blockchain to create a symbiotic
relationship between hotels and customers. Hotels will maintain control of
their brand while customers will get more value at the same price.
The
GOeureka Vision
GO has a plan to
create an online ecosystem where businesses thrive by offering the best
services to travelers. As a technology partner for the hotel industry, GO will
offer a simple and direct app and web experience to users without the high
commissions on most sites. By freeing up resources for hotels, GO will make it
possible for them to offer better customer value and service with their
resources.
GOeureka
Transparency And The Blockchain
A key feature of the blockchain is accountability. Go
will use the blockchain to make sure that accountability and transparency are
maintained in the ecosystem. Go will replace the pay to play arrangement
utilized by most travel agencies. The platform will be unbiased and no
commission will be charged on users. On GO, hotels will no longer need to pay
for visibility. All displays and search results will be determined by the
performance of a hotel and the reviews it gets from its users.
GOeureka
Hotel Booking Loyalty Programs With The Blockchain
If a hotel wishes to
integrate, the GO ecosystem will offer an API where a hotel can link their
inventory with the reservation system. There will be guides offered to the
hotel’s IT department to make the integration seamless. Go will also integrate
with the property management software of a hotel via strategic partnerships.
One issue that GO will
solve is the disconnected loyalty programs. Today, every airline, car rental
service, and the hotel will have its own loyalty program. This makes it hard
for ordinary consumers to accumulate enough points to redeem for significant
rewards.
An integrated loyalty
program powered by the blockchain is the future. Go will create an
interoperable program that is powered by this technology. Users will have the
option to convert the loyalty program points of a hotel in GO credits. With
this system, loyalty points earned from a car rental service can be converted
into GO credits. This can then be used to pay for a hotel room.
PRODUCT
OVERVIEW
The GO platform includes
the following: 1) Website with booking and payment functionalities 2) Mobile
application for customers and hotels to communicate directly with each other 3)
A centralized database and server to store Personal Identity Information (PII),
customer booking details, and data from hotels 4) Utilize Ethereum blockchain
and smart contract to generate decentralized GO Tokens and execute payout
requests
GO will store the PII,
customer booking details, and hotel data off-chain to avoid pushing up network
transaction fees and ensuring the immediate execution of user activity. GO will
look to move its entire platform on-chain in the future, with the introduction
of new blockchain technology (i.e., Raiden) that allows instant execution at
minimal to no cost.
GOeureka
GO Token ICO Details
A total of 1 billion GO
Tokens will be issued where 1 GO token = US$0.10. There will be a diminishing
bonus distribution of GO Tokens upon meeting the maximum cap or preset time,
whichever comes first. While 30% will be kept in a reserve pool for operating
initiatives, funding marketing strategies, and other activities relevant to the
growth of the business. During the private pre-sale, contributions will be
accepted in US Dollars (USD), Singapore Dollars (SGD) or Ether (ETH). All
contributions will be converted to ETH, live, at the prevailing rate. The
Token Sale will last approximately three weeks.
GO will host a first-round
private presale one month prior to the Token Sale with accredited investors,
with a minimum contribution of US$50,000 each. Interested parties are welcome
to whitelist with GO to join this round of fundraising. Contributors of funds
raised during this period are entitled to bonus distributions of 30%. The
maximum cap during this round is 150,000,000 GO Tokens and will close two weeks
before the Token Sale. If the maximum cap is not reached during the private
pre-sale, it will be opened to the public, with a minimum contribution
requirement of US$1000 (equivalent ETH value). There will be a 15% bonus
distribution during this round. The pre-sale will be closed early if the
maximum cap is reached or will end on the day before the Token Sale.
The Token Sale will end
early once the total maximum cap is met or after Week 3 of the Token Sale. All
unsold tokens will be burned.
GO founders and team
tokens will be locked and can be withdrawn quarterly over a 24 month period,
while advisors will receive their tokens after six months post ICO. Tokens from
the Reserve Pool will be used to accelerate the adoption of GO’s platform. To
efficiently market the platform at a much quicker rate, GO is aiming to raise
US$60 million in funding, following the first round of successful seed
funding.
GO has spent the past 12
months working on a beta version of its platform, consulting blockchain
technology experts on the token model in preparation for its initial coin
offering. To effectively match the existing OTAs, US$60 million is required to
scale the platform and substantially grow our gross bookings over the next 3
years.
Figures from Expedia
demonstrate the segment’s high potential for rapid revenue growth. For example,
Expedia made gross bookings of more than US$70 billion in 2016 against its
operational costs (i.e., marketing, salary) at close to US$7 billion.
More Information :
Address Eth : 0xC1FeeF66fB63DDAf7bb9Abd85eda440F8E44eaE1
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