TriipMiles Review and Rating
Stage of The Project8.0/10
Token Sale Terms8.5/10
- Leveraging an existing business: Triip Pte. Ltd is an established company operating in 228 countries, with $858,000 in seed funding, 100k users, $1.5m in revenue and a database of over 1.9M hotels and 6000 local guides. Triip.me has spent 4 years working on government compliance. They are Board members of the Pacific Asia Travel Association (PATA), which allows them to communicate with governments on a monthly basis. The TriipMiles blockchain project will penetrate the market with the existing customers and business partnerships of Triip.me.
- Strong and experienced core team: The founding team brings together 60 years of experience in both product development and travel.
- Blockchain helps Triip.me scale its business: Blockchain technology helps reduce the cost of triip approval and arbitration. The TIIM token economic model creates an incentive for tour companies, travelers, guides, arbitrators, and verifiers to all perform the activities needed to run a functional decentralized travel ecosystem. Triip.me’s P2P referral protocol circumvents the traditional social media-advertising model that is expensive and unreliable.
- Strong Competition: Triip.me faces competition from large companies like Airbnb, who recently entered the travel/touring space in December 2017. Other OTA’s also have a funding advantage over Triip.me because they can afford to spend more on data, market, technology, and human resources. Triip sees its adoption of blockchain technology as the primary way to fight off this competition. Currently, Airbnb is only considering blockchain for their review and ratings applications.
- Unclear Global Crypto Regulation: Government regulation around crypto is still an ongoing issue. Governments usually have a large role to play in the tourism industry of most countries, so Triip.me will have to find a way to be compliant if they want to expand. Triip.me seems to have already started working with Governments, as they are board members of PATA, and the Singapore Tourism Board currently licenses them. Furthermore, Tour guides who frequently perform tours around traditional public tourist sites are expected to get a Government license. If they can’t afford one, the platform allows them to raise money through crowd-funding to acquire the license. Using smart contracts, funders will be able to earn a percentage of a tour guide’s revenue for helping them acquire a license.
Public Sale Starts At
Token type: ERC-20
ICO price: 1 TIIM = 0.00011363 ETH
Finite token number: 500,000,000 TIIM
Token Allocation: 33% Distributed, 25% Community Reserve, 17% Company Reserve, 15% Ecosystem Advocates, 10% Team
Availability: US and Chinese citizens excluded
Status: Whitepaper and Working product ready with more than 50,000 users
Accepted Currencies: ETH
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