icorating tripbit basic review ()...travelblock - a decentralized platform, which allows users to...
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ICOrating
TRIPBIT Basic Review (http://tripbit.info)
ICO dates (01.05.2018 - 03.07.2018)
Web: icorating.com
Email: [email protected]
Twitter: @IcoRating
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Project Details
Name: TRIPBIT
Ticker symbol: TBT
Project type:
Business services, Cryptocurrency, Internet, Smart Contract, Tourism, Travel, Online
Bookings.
Extended company description: A distributed travel platform that combines the
three main markets of the travel and tourism industry:
Flights
Hotels
Events
Company: TripBit Pty Ltd.
Website
Whitepaper
Explanation Video
ICO Details
Pre-Sale Start: 21.03.2018
Pre-Sale End: 24.04.2018
Pre-Sale Bonus: 35%
Public ICO start: 01.05.2018
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Public ICO end: 03.07.2018
Token Sale duration: 9 weeks
Token type: ERC-20
Token emission: 700,000,000
Tokens available (Pre-Sale + Public ICO): 490,000,000
Investment goal:
TBT price: 1 ETH = 10,000 TBT
Accepted payment: ETH
Bounty: program is active
Token role: functional
Team
Team (number of people): 9
Advisors and partners (number of people): 2, they are also team members:
Jayden & Andy
GitHub: N/A
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Project Information
A distributed travel platform that combines the three main markets of the travel and
tourism industry:
Flights
Hotels
Events
TripBit connects the tourism industry and blockchain technology in order to make
payments and bookings. Users can make payments on the platform using traditional
currencies as well as cryptocurrencies and tokens. In connection with the use of
blockchain technology and tokens, the project mentions the following benefits for
users:
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The platform will offer the following services:
hotel reservation
purchase of flights
purchase of tickets for various events
possibility of resale and purchase in the secondary market
In the future, the project is planning to expand its range of services to:
reservation of tours and route services
airport transfer
car rental services
Advisors:
Jayden Takahashi - Blockchain Advisor
Andy Choy – Senior Analyst & Advisor
Partners:
AAR Consulting Group - consulting agency
JT Pratama Tour and Travel - travel operator with an extensive network of
airlines, hotels, etc.
Investment attracted: $200,000 seed funds
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Summary
The project is based on a travel platform which allows users to book
accommodation, buy air tickets and tickets for various events.
Strengths of the project:
the markets selected by the project demonstrate high growth rates.
the presence of the tour operator as a partner, will allow them to establish
processes within the platform.
Weaknesses of the project:
There is no MVP in public access (according to the roadmap, several
platform modules should already function).
According to LinkedIn data, the team does not have much experience in the
development of large projects, or specialized experience.
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Market and Industry
According to Market Research Reports, the annual growth of the global tourism
market will be about 30% by 2020.
According to the WP, the project is going to enter three markets related to tourism
industry:
1) Flights: according to the forecasts of Statista, passenger traffic is expected to
increase by 6% in 2018.
2) Hotels: analytical agencies anticipate that the hotel industry will demonstrate high
growth rates, at an estimated level of 37% per year until 2020.
3) Events: According to Statista’s forecasts, ticket sales for events will grow by 11%
annually. [https://www.statista.com/topics/962/global-tourism/],
[https://www.marketresearchreports.com/travel-leisure],
[https://www.statista.com/statistics/193533/growth-of-global-air-traffic-passenger-
demand/], [https://www.insidertradings.org/2017/12/05/hospitality-market-expected-
to-reach-at-a-cagr-of-37-by-2020/], [https://www.statista.com/outlook/264/100/event-
tickets/worldwide]
The research of the project team showed that the size of tourism industry amounted
to $7,600 billion in 2016. In addition, this trend will continue and the industry will
continue to grow at high rates.
With regard to the team’s research in the main areas, we consider it incorrect to
include the aviation industry (the size of the industry is $2,700 billion) and the event
industry (the size of the industry in the US is $115 billion) into tourism market. The
aviation industry directly correlates to the amount of potential flight bookings/sales,
whereas the events industry correlates to the amount of potential events tickets
sales, which we believe makes it relevant to travel & tourism research.
The size of the hotel industry, which the team includes in the target market, is $700
billion.
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Comments: the markets demonstrate high growth rates, therefore, there is a chance
to occupy a niche in each of them.
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Competitors
In the course of our research, we have identified the following competitors:
Winding Tree – A decentralized travel platform.
Trip - A hotel booking platform.
Travelblock - A decentralized platform, which allows users to find tours, book
hotels and purchase flights.
Summary: The key difference between TripBit and its competitors is the ability to
pay for services with cryptocurrency, fiat, and tokens. However, their competitors
already have a pool of strategic partnerships.
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Engineering Features of the Project
TripBit will be built using blockchain and smart contracts.
The solution that the project provides consists of 2 parts:
All-in-one platform solution – A global platform for tourism.
Dapp P2P Marketplace - A marketplace for travelers, a secondary market for
tourism products and services.
Technical Description
TripBit will include two platforms:
1. the first one will allow users to book hotels, to purchase flights and tickets for
events.
2. the second one will allow users to exchange and to buy or resell tickets in the
secondary market (Dapp, P2P, Marketplace).
Platforms will accept the following currencies:
TripBit Tokens (TBT)
Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Fiat (USD, AUD, EUR, GBP, etc.)
Technical Roadmap
Based on the project’s data, the following modules should be available:
cryptocurrency
aviation
hotel / event management systems
real-time crypto-transaction systems
Since the R&D stages were held in 2017, the main platform should be ready by
January 2019.
Comments: The presented technologies are already successfully applied in the
market. The team do not see any working products in the market which allow users
to pay with both cryptocurrencies and fiat for travel bookings, and the platforms
which accept crypto-only do not seem to be in a consumer-ready state.
However, the purpose of introducing the platform’s own token is not entirely clear.
There is a loyalty program and discounts for using the TBT token to purchase online
travel bookings from our platform.
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According to the roadmap, the R&D stages ended in 2017, however, details are not
disclosed. It is also impossible to see the smart contract in an open repository. The
smart contracts will be released soon.
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Documentation
We have analyzed the website and documentation of TRIPBIT for sufficiency and
consistency with regard to making an investment decision.
Information about the project is contained in the Whitepaper and One Pager. The
documentation is in both English and German. One Pager is also available in
German. The project is described in sufficient detail in the Whitepaper. The main
emphasis is made on the description of platform functionality and market analysis.
The website also provides information about the project, the team, the RoadMap, the
ICO and frequently asked questions. The website is presented in English. The
advantage of the website is that only the necessary information is presented.
However, the FAQ section needs further elaboration, the answers do not provide
enough information on the questions posed.
Summary: The documentation gives a comprehensive view of the project. The work
process of the platform is described in sufficient detail. However, the technical
aspect of the platform is not disclosed.
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ICO
Tokens issued for sale: 70%
Public ICO start: May 01, 2018
Token type: ERC-20
Accepted payment: ETH
TBT price: 1 ETH = 10000 TBT
Crowdsale duration: 9 weeks, until July 03, 2018
TBT token is the platform currency. TBT can be used as a means of payment for
services and goods on both TripBit and partner platforms.
Token limitation: 700,000,000
Advantages for token holders: the tokens are functional, which allows users either
to sell them or to use them for accessing the platform services.
Dividends: no
Additional token emission: no
Escrow: N/A
The Token Sale is implemented in several stages:
Max goal: $40,000,000
Min goal: $4,000,000
Bonus:
Comments: Tokens will be distributed to participants’ wallets 7 days after the ICO.
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Bounty
A bounty program is indicated in the WP.
The project allocates 5,000,000 TBT to bounty. The program is open in the following
areas:
Summary: The project has an extensive bounty-program. All program conditions are
specified in the WP.
Token and Capital Distribution
Tokens and capital are distributed according to the following scheme:
Summary: Tokens do not affect the distribution of shares in the company. The
incentive system is built in such way that it is more profitable to buy tokens earlier.
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Development Plans
The RoadMap:
January 2019: implementing a large-scale marketing campaign, forming a business
development strategy.
Summary: The team is planning an advertising campaign to scale and expand the
sales funnel, but the details are not disclosed.
The main marketing activity is scheduled only from the beginning of 2019. This fact,
combined with no MVP available, can negatively affect the popularity of the project
and may lead to a drop in the price of the token in the secondary market.
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Team
The team consists of 9 people. Information about the main team members based on
LinkedIn is given below:
George Rozos (LinkedIn) - CEO and founder. Advisor at National Australia
Bank, founder and trader at Elemont FX, financial trader at Financial Markets
Trader.
James Rozos (LinkedIn) - founder and technical director. Software developer
at Campaign Monitor, NU Healthy Cafe, previously: developer at WiseTech
Global.
Rohan Jain (LinkedIn) - developer at DAPP. Developer RPA (trainee) at
Mindfields, sales assistant at Tea Too, previously: sales assistant at HOYTS
Group.
The team has 6 more people.
Summary: all team members, except the chief analyst, indicated their affiliation with
TripBit. The team is mostly from Australia. The team also includes the following
specialists: DevOps coordinator, financier, blockchain consultant, software
developer, marketer and chief analyst.
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Marketing
Information about the project is available in various popular services such as Twitter,
Telegram, Medium, LinkedIn and Bitcointalk. The project has a Bounty program.
The team conducts an advertising campaign on social media, providing regular news
updates on Twitter. The format of articles about the project shows that they are
written mostly by the team members as a review or by information portals as an
announcement of the next project staging the ICO.
Comments: The interest in the project is at a low level. The marketing campaign is
mainly developed on Twitter. There is large interest in the project in the Telegram
group, with over 10,000 members.
Traffic analysis of the TRIPBIT website based on Similarweb.com data showed the
following:
Traffic source: [https://www.similarweb.com/website/tripbit.info]
Comments: direct link: 100, referrals: 0, search: 0, social media: 0, mail: 0
Traffic through search: 0
Referrals: 0
Summary: Based on the available data, it can be concluded that users are not
interested in the project. The project team just started an advertising campaign.
Currently, there are news updates on Twitter, there is a blog on Medium too. The
team will be marketing their website when the pre-sale goes live to acquire leads and
conversions. Marketing efforts prior to pre-sale have been focused on ICO Gold
Listings, the Telegram group, and Twitter communities.
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Contacts
The developers may be contacted using the links below:
Website
Telegram
Medium
Bitcointalk
The information contained in the document is for informational purposes only. The views
expressed in this document are solely personal stance of the ICOrating Team, based on data
from open access and information that developers provided to the team through Skype, email
or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to
minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make
the analysis more comprehensive and informative.