Tripio is the first market platform in China to provide decentralized travel services based on blockchain, providing a global hotel reservation service called Blockchain Airbnb. Founder Shen Wei was the senior vice president of the wireless business of eLong Travel Network and has decades of OTA work experience.
Shen Wei pointed out that blockchain technology can change the mode of heavy operation of tourism platform. As a middleman, the traditional travel platform generally takes away 10-15% of the profits. A large proportion of employees are customer service. The transaction is handled through strong operation, and the labor cost is very high. Tripio is committed to building a future travel service ecosystem based on trust, incentives and zero commissions through the guarantee of transparency through blockchain technology.
On September 24th, Tripio founder & CEO Shen Hao and CTO Kinhang Yau were invited to the ChatNode live room, which not only answered how the blockchain empowered the travel accommodation industry, but also brought a series of good news, including partner plans, acquisition of Singapore payment. Public chain Payin, the establishment of mining funds, the establishment of an ecological exchange. The live broadcast was hosted by Wang Junyao, the live broadcast of ChainNode.
- 5G Chain Network - New Era Spark Program (Funding) Rural Revitalization Closed Meeting is about to be held
- New York Department of Financial Services (NYDFS) plans to update BitLicense terms for the first time in 5 years, currency exemption list + listing template
- Supervision clearly "open the door to block the evil door" ideas "chain Shanghai South" into a digital asset test field
- Insurance faucet accelerates the blockchain
- Perspectives | Zheng Lei, Hong Kong International New Economic Research Institute: Blockchain is naturally suitable for social welfare scenarios
- Ernst & Young: Blockchain solutions for wine traceability platforms
The following is a compilation of live content, published by Babbitt.
Part I: About Blockchain + Travel Accommodation
ChainNode : Why choose blockchain technology for travel accommodation business? What are the pain points of the travel accommodation industry in the blockchain technology?
Sinking: First of all, it is related to my personal experience. I was a senior vice president of eLong.com, the online travel accommodation booker in China. I have worked in this industry for nearly 10 years, so I understand the advantages and problems of this industry. Online travel (OTA) is a very The nature of strong intermediaries, as an intermediary to collect about 10 to 15% of profits, it is difficult to see such a high service fee in other industries. OTA uses some of the problems of information asymmetry and payment, and the middleman earns a lot of price difference.
With the development of Internet technology for so many years, you will find that the improvement and promotion of OTA is not particularly large, and the blockchain has made me shine. It can fundamentally change the mode of operation of the online travel industry. For example, whether it is Ctrip, where to go, eLong, half of the employees of these companies are customer service, this is a strong operation-driven way to match transactions, making the entire market labor costs high. Blockchain technology brings transparency and security, and makes point-to-point transactions more automated, enabling a high degree of intelligence and credibility, resulting in higher efficiency and lower costs.
ChainNode : At present, the Tripio accommodation booking business has been running through the entire process of the chain. How is it achieved?
Kinhang Yau: Before the project was founded, I studied a lot of project white papers from a technical perspective, and I also had a new understanding of blockchain technology. I think that travel accommodation booking is the most likely direction to achieve blockchain application. The blockchain ultimately needs to reflect its entire business process through transactions. One problem that cannot be avoided is how you express and express assets in the chain. If it is to be implemented, it is necessary to map the physical or service-oriented business to the blockchain, which is an important breakthrough for the large-scale application of blockchain technology. So in which areas does it have an opportunity?
In addition to purely virtual scenes such as games, finance, and travel accommodation bookings, this global consensus has been established for decades and is now a very high industry standard. I booked a hotel in Brazil or Japan in China, and it was approved by the local counterparts. There are not many offline assets with global consensus. Because of the industry consensus, there is a chance to show it in the chain. With such a foothold, the latter things are logical.
What we have to do is map the entities and services of the travel booking to the blockchain. Our approach is to make a nightly interest, making an indivisible token representation on the chain, into a blockchain. The assets that flow above, and then we will escort the entire transaction process through smart contracts. Everyone can see our Dapp, some hotels have completed the closed loop of the reservation.
ChainNode : How many orders are there currently in the day?
Sinking: In the past golden week, the peak of our order has exceeded 1000, and it is usually about 800. For the chain, I think this amount is quite surprising for our team, but for the veterans who have worked hard in the OTA industry for many years, I think it is a bit embarrassing to take out this order. Because I am in charge of the mobile phone business of eLong, the single-day order has exceeded 100,000. In contrast, Tripio is still small, so it has the beauty of growth.
ChainNode : Booking a hotel on Tripio can choose to pay in French or digital currency. What is the payment ratio?
Sinking: Each half, the French currency is a little bit more. Because of the high volatility of digital currency and the infrastructure problems of payment on the chain, it is not particularly well resolved. This part depends on the team's own efforts, but also depends on the growth of the industry. Just as online payments were not resolved many years ago, Internet e-commerce is not as developed. We have made some design compatibility with the chain and the chain from the beginning, so that we can use both French and digital currency, and it is more friendly to users.
ChainNode : Do you think that the blockchain will break the payment barriers faster than the Internet?
Sinking: There is nothing to stop the world from becoming more efficient and the cost is lower. This is a basic consensus. I think this speed will be faster. Travel agencies have existed for decades and OTA has been for more than ten years. I think the blockchain will take about 5 to 10 years.
ChainNode : How does Tripio mediate if there is a dispute between the user and the merchant ?
Kinhang Yau: I thought about it at the beginning of the design. Let me introduce the arbitration mechanism of Tripio. The nature of the blockchain is the technology of a trading system. The important thing in this system is evaluation and arbitration. We will implement this part of the logic through the blockchain. The obvious benefit is that commenting on fraud has become difficult because reviews require cost and all records have the potential to be tracked, so everyone will see a hotel with a good reputation. Some common-sense judgments can be completed by handing them over to the community. For example, if we live in a B&B, there is no TV that destroys it. If there is enough evidence, there is no need for the operator to solve it.
Next: About Tripio 's new plan
ChainNode : Tripio has several new plans to announce, let's introduce the partner plan first.
Sinking: The Partner Program is a long-term support and holding of TRIO feedback, holding a total of 5 million users of TRIO, and then will enjoy the incentive and dividend plan of our partners. The reason why I choose to talk to you now is because our basic business has gradually developed, and there are new plans at the protocol level. Dapp is also booming. Our basic business income is slowly increasing. In the spirit of the blockchain, we will create a win-win situation for everyone. We will then regularly use 20% of the booking profit to motivate our partners.
In fact, for many altcoins, the team or the platform does not have the business hematopoietic function or survivability, or the token itself does not have strong network effects and tool attributes. Such a currency basically does not see the future. And TRIO is linking a very important ecological reservation system. In addition, we have some new asset injection and investment M&A plans, followed by a clearer path.
ChainNode : There are currently three sources of income for partners: mines, booking profit distribution, and payin public links. What is Tripio 's mining plan?
Shen Yu: We have jointly set up a fund to inject some new assets through investment mergers and acquisitions, and the proceeds obtained here are also distributed to TRIO holders in stages. The first phase focused on Bitcoin-centric assets and set up a mining fund with a planned mining capacity of 5,000. The proceeds will also be returned to Tripio holders. Through the endogenous business growth and outreach investment mergers and acquisitions, gradually enhance the value of TRIO.
ChainNode : Tripio just announced the acquisition of Payin , the public payment chain in Singapore . What is the consideration?
Kinhang Yau: Friends who have used our products will notice that the Payin option will appear when making digital currency payments at the final stage of the booking. When we have been accepting different digital currencies to make reservations, we have completed and promoted them through Payin technology. It is only a long time that we have not communicated with you about this matter. Now is the time to come.
Many projects will stop when the market is not good, waiting for the entire industry to have a breakthrough development or market maturity before investing. But we will not wait for the opportunity during the window period. In our view, in the future, if you want to have a good product, you need to apply + public chain integration development. We are now accustomed to the concept of tiering, doing hardware, system, and application. But looking back at the development of the Internet more than a decade ago, we will find that when all areas of the industry do not mature together, a team needs to make everything, and it can have a relatively complete product and a good user experience.
Payin will have several big plans next. Tripio's protocol layer and smart contracts will migrate to Payin's public chain. We have a lot of questions to discuss and consider, and continue to do research and development on this product and technology. We will also invite some projects to form an ecosystem on the public chain.
ChainNode : In addition to doing the layout of the mine and paying the public chain, will Tripio have a layout for the exchange in the future?
Sinking: We will set up an eco-exchange to help small and medium-sized hotels or boutique hotels, where they can come to trade and get similar crowdfunding investments. For example, you can get a part of the rights of Nethong B&B through investment, and continue to get the return of their investment through tokens. This is our eco-exchange, not an open, industry-wide token exchange. And investors can also resell equity to make it more liquid. More details are not easy to disclose, and everyone can continue to pay attention.
ChainNode : How do you see the current market status? What do you think of the overall currency price trend in the second half of this year? Will Trio have an incentive plan in the secondary market?
Shen Yu: Thanks to the market for giving us a few lessons in the first half of the year, we have pulled back the values that are biased towards the Internet. If the bull market in 2017 is a hundred flowers, the first half of this year can only be regarded as a structural bull market. BTC is rising with a few platform coins, and other currencies are rebounding, and then they are dying. Therefore, in addition to the BTC with global consensus, other currencies still have a clearer business model, or a clearer Staking model, which requires healthy business support, even if the exchange and the mining pool are such logic. In fact, this shows that the market is becoming more rational and healthy. After we realize this, we will take immediate action to develop and embrace change through endogenous and extensional methods.
Kinhang Yau: Today, I heard a series of plans. I think I can use a simple logic to string together. The previous stage of Tripio was purely business oriented and was in individual combat. There are no doubts that there will be problems, such as business growth, technology maturity, and resistance in the overall environment. Then in the next stage, what we have to do is to constantly empower Tripio, not to do this by drinking poison, but to really give him more value. For example, our assets are just a static asset, and investing in mining will have a good annual return. In addition, digging down the depth of the technology will naturally produce value, all of which will be built around TRIO, and all value will return to TRIO.