Cryptocurrency and Blockchain
P2P Travel Startup To Use Blockchain To Revolutionize Travel Industry
The movement of people from place to place is one of the oldest fundamental aspects of human existence. It is an industry that has grown on its own under a natural design, adapting with every stage of technological advancement.
Moving with the times
Traveling to a new land has always involved the initial demand for prior information about the intended destination. Comfort, security, adaptability and even fun are some of the reasons why people attempt to plan ahead for an intended trip. Hence, suitable avenues that provide genuine information about locations are very important in the travel and tours industry.
In the olden days when people moved around in groups, emissaries are usually sent ahead when approaching a new land or territory. These emissaries function as a channel of information between the travelers and the communities of their intended destinations. They usually gather information about the culture, security, geography and other factors that may determine the reception of the traveling group within the intended region.
As technology continues to evolve, the travel industry evolves with it. The role that travel agencies play towards providing convenience for the global population of travelers has become so crucial that it market currently competes with the top industries in the world in terms of growth and volume.
Limitations and weaknesses
In its early stages, the travel agencies functioned as localized companies with centralized offices that provide information about major tourist cities around the world. Over the years, enabled by internet advancements, online platforms now offer a more flexible system where individuals can plan their trips from the comfort of their homes depending on information provided on the portals of online travel agencies. This system is responsible for most of the exponential growth that the industry has seen in recent years.
Despite the benefits that online platforms offer, their associated limitations are a huge dent to the industry. In a competitive market, a lot of these agencies display compromised information in order to attract clients. Some of the information that are found on online platforms are sometimes obsolete and do not represent the actual facts on ground. This is becoming an issue as the distrust that it brings makes it difficult for travelers to be confident when planning their trips.
Blockchain changes everything
By introducing a peer-to-peer model of transmission, Cool Cousin is overhauling the industry and providing a reassuring system that will restore trust, integrity and adequate service delivery.
The Cool Cousin project connects travelers directly to locals within their intended travel destinations. This implies that there will be direct communication in real time between both parties, guaranteeing the authenticity of acquired information. The blockchain decentralization system that is implemented in the process discourages any form of malpractice that is ulteriorly motivated.
This model which will run on a cryptographic token named CUZ will incentivize the growth of its community of local experts. Locals who are members of the community are regarded as cousins. These cousins can offer concierge-like services in a P2P system that will suit the specific needs of particular travelers. These services will be offered via a tokenized smart contract-based P2P platform. This system ensures consistency of data, in case of reviews and offer a trustless system that improves the confidence of service rendered and received.
Boosting an established model
An interesting aspect of this project is that Cool Cousin as an entity is an already existing stable platform that is well established in the travel industry. Therefore, by implementing blockchain technology, it is pioneering an effective disruption that will step up the quality of the entire ecosystem. On its web and iOS app, the company has a population of over 500,000 users and over 1,000 cousins in 70 cities across the world. Therefore adapting the new blockchain technology will be a seamless process.
Decentralizing the system automatically removes the control from the hands of the big companies and puts it directly into the hands of the individuals. Travelers can be assured of reliable information and review, plus the ability to narrow down their travel plans and logistics to personal preferences. This is also a huge opportunity for locals to generate and retain revenue from their resources, unlike the existing system where most of the revenue go to international travel agencies.
In other to build a robust platform that will ensure the achievement of the goals described above and a lot more, Cool Cousin is embarking on a token sale to raise 15,000 ETH. This platform will enable effective interaction between its users (Cousins), thereby ensuring direct and automated execution of transactions.
With blockchain technology set to disrupt the travels and tours industry, the ecosystem is bound to experience and expansion that can only be imagined at this time.