TRIPL = smart travel industry protocol
TLDR for blockchain experts: Hotel nights, flight seats, opera tickets and a place in an exotic expedition can be seen as NFTs.
TRIPL allows direct interaction between hosts (hotels, airlines, activities...) and travelers. TRIPL is a protocol that enables a new open and distributed market based on web3, smart contracts and blockchain technologies. It allows the industry to interact in a new way, between hosts and travellers.
On top of the current industry applications new ones could be developed, such as:
- Allotment auctions.
- Cross hosts and traveller points/fidelity programs.
- A new reputation system for both hosts and travellers that can integrate with old ones. Those reputation points will be used to governance the network (Decentralized Autonomous Organization).
- Packages can be created directly inside the blockchain. Package creators will not need direct contracts with each host. They will be able to bundle packages joining each hosts availability.
- Credit lines could be provided based on the host's "locked on contract" sales.
Why an investor should be interested in TRIPL?
I would say to an investor:
- Let us imagine we are 1985, I am the nerd in the investment committee of a newspaper, and I am saying “personal computer looks like something we must understand and play with”. 10 yeas later, in 1995, the Clinton administration open internet. Would you still be at the 2005 newspaper investment meeting if you were the one how said that PCs were toys? Is your newspaper even in business?
- In 2007 I was at Varanasi writing “Hey! I am watching a cremation ceremony!” I sent this message as an SMS to a UK number that was a Twitter proxy. No 3G, just text, to twit. In 2011 the Arab Spring happened.
Technolgies evolves faster on every interaction. Blockchain technology is not new and despite the legal and regulatory aspects of cryptocurrencies Web3 technology is a game changing one as it was Web2. Hotelbeds was built on surge of Web2. We should start learning and working with Web3 technology now because this change will happen faster than Web2 one.
Any technology should solve a problem. Our objective with TRIPL is to solve these problems:
- Avoid redundant availability calculations across the industry for the same allotment/resource.
- Avoid unexpected cost on cancellation due to currencies fluctuation.
- Reduce financial complexity.
- Reduce contracting complexity. The smart contract, the code, is the contract.
TRIPL extra benefits
- Simplify the direct link between actors. All hotels publish with the same protocol, all clients consume with the same protocol. That creates an open market.
- Smart contracts ensure all players clear and well known rules. That rules are developed also with a direct governance also clear and well known.
- Open market protocol ensure a decentralized diversity of implementations, specially for helpers.
- TRIPL is not a company. TRIPL is a project to implement an open market protocol, based on a set of smart contracts, with direct governance of all actors (including the travelers).
- TRIPL is a disruptive technology that gives an opportunity to all current actors to play a role and stay in the business improving its current value.
- TRIPL should be a join effort between the travel and cryptocurrency industries, the universities and the European Union.
We identify the following challenges:
- To represent the full allotment of a host in a blockchain.
- Identity management in a way that enables anonymity at blockchain level and still serve the industry and legal requirements.
- Host validation: host must be verified to ensure the quality.