Travel Coin ICO review and 5% discount coupon inside for all steemians!
Introducing
When investing in a new ico the first thing I look at is website presentation, after all this is the face of any online venture. Next i start reading the white Whitepaper to see what type of coin and venture I am dealing with. This usually leads to a quick enough conclusion as to invest or move on.
When arriving at the Travelcoin website for the first time I was immediately captivated by the imagery. My imagination wondered as I pictured myself on a luxurious tropical vacation, Snorkeling with the turtles and enjoying the best of what traveling the world has to offer.
Once I snapped out of my daydream I continued to read the Whitepaper so let's see what TVR has to offer...
Welcome to the latest generation of cryptocurrency smart contract tokens – Travelcoin (TRV).
According to the whitepaper these tokens have the potential to revolutionize the travel industry as it will allow travelers, agencies and transportation systems to come together in Travelcoin’s self-sufficient ERC20s standard token ecosystem with a global community. Thanks to the innovative business model under pinned by these Blockchain based tokens, everyone in possession of Travel coins will have the opportunity to enjoy unique benefits such as lower costs, avoidance of double 2 spending while making bookings, no double bookings, and a faster way to secure travel and vacation deals.
So, TVR is a Ethereum based smart travel platform that plans to disrupt the worldwide travel industry for the everyday commute as well as the vacations get away. What do you think about this? I gave this some consideration after reading through the entire whitepaper and site. My conclusion is that Travelcoin is onto something big here!
From the WHITEPAPAER
The travel industry, alone for vacations, is valued at over $1 trillion dollars a year (US) and the industry as a whole makes up for 10% of world spending at over 7.6 trillion. Travelcoin is the first of its kind specifically designed to connect the Blockchain and the travel workflows. If you’re an avid traveler, investor, trader, or speculator it’s tough to ignore the potential of the Blockchain in the travel industry. Travelcoin (TRV) is a blockchain protocol that is customized for the travel industry using smart contract technology. The Travelcoin protocol and its Decentralized Applications (DAPPs) targets key travel benefits and allows for instant bookings, spendable rewards points, from anywhere in the world at the 3 lowest fees. The Travelcoin smart contracts ecosystem makes this possible by handling the sale (contract) ofthe ticket between the ticket holder and the traveler through the Travelcoin ecosystem. Travelcoin (TRV) tokens are required to run the Travelcoin ecosystem through the ether network as ‘fuel’. While initially you can use the TRV tokens as currency on the Ethereum network,however in the long run it is meant to keep the Travelcoin blockchain running. When you buy Travelcoins (TRV) inthe ICO crowd-sale (initial coin offering), you are capturing a piece of the Travelcoin protocol that will run the future Travelcoin DAPPs. 1 TRV can be divisible to 16 decimal places... therefore you are actually obtaining 1.000000000000000 TRV. To back our early supporters, Travelcoin will also sustain its momentum by charging a reseller fee of 0.000005 TRV to post a ticket on our platform... It might be a fraction of a penny but it allows ticket holders to have the best travel commerce platform in the world with virtually 24/7 uptime. As the Travel ecosystem grows, so will the value of your TRV tokens. You will be able to hold your TRV funds, exchange it with other
ether based tokens instantly or use it in the Travelcoin ecosystem to make ticket purchases. Through an experienced team, we are dedicated in ensuring that we constantly create value in the TRV travel hub thereby delivering value increase to the early TRV token and token holders.
Another interesting point from the website
The ICO will feature unlimited tokens for sale, with each token creating a brother token to be held by Travelcoin. After the ICO no more tokens will ever be created. This means 50% of total coins will be available for sale during the duration of the ICO from July 5 – August 15
So if the number of TVR is limited to the amount raised in the ICO how are coins generated? I found this also very interesting...
Travelcoin is a self-sufficient blockchain and fuels itself by the fee it generates on each transaction. This means over time the more transactions being done the more Travelcoin will be burned creating a shortage of coins which will increase the value of the coin.
If you would like to study the white paper in more depth please visit there pdf here Dont forget to come back and comment I am very interested to here what you have to say.
A Quick Review
Over the last few weeks it has become apparent to me that many ico's can be quite complex in nature. However Travelcoin has made the investment process and users registration straight forward and easy. I simply signed up, enabled two-factor authentication and purchased my TVR.
You can use either PayPal or the CoinPayments.net gateway to purchase your TVR using multiple crypto currencies. Also worth mentioning at each milestone during the Travelcoin ico “Dream Vacations” will be available in a raffle to anyone who purchased 100 or more coins in that given phase.
Early Bonus
As you can see I have received an additional 11 TVR by simply getting in early. I bought $50 worth of TVR and later my account was credited with the additional 11 tokens.
When I originally made my investment I noticed there was a coupon code option. I contacted Travelcoin support via there facebook page and asked if they had a coupon available. I figured I had nothing to loose, so why not? Within a day I was surprised to find a reply containing a 5% discount for any further tokens purchased. Awesome! I then replied once again and requested permission to write a review about TVR and wanted to know if I could share the coupon code with my fellow steemians.
trvbonus005
As an example I added 100 tokens to my basket and included the coupon code as a demonstration. Coupon Code Confirmed and Working!.
https://www.travelcoins.io
Thanks for stopping by, I am looking forward to all comments and feedback. Let me know what you think about travel coin and the idea of running a travel industry on the blockchain. Will you invest? Comment!
Nice, i have already purchased love this ico. :)
Thanks for sharing this my first looking into an ico you explain pretty well the do and dont.thaks for sharing
Thanks for the comment! Please let me know if you have any questions.
Hmm... The limitation on supply seems like a good idea, but I don't see understand how their coin is directly connected to the travel industry yet. Hopefully Travelcoin is not only accepted through their company because that would make its value dependent on the success of a centralized entity.
Hi @thebigbadbobby thanks for the great question. I found this snippet from the site that tells me they will be directly connected to the travel industry. What you think?
The main issue that I see is there is no mechanism in place to prevent people from uploading scam tickets to the blockchain. If only real, reputable institutions are allowed to import tickets, then it is plausible that those institutions could choose to use Travelcoin as a means to sell their tickets. But in order to determine who is reputable, there would need to be a centralized human team responsible for granting ticket selling privileges, but that would mean that the blockchain is not really decentralized. My guess is that it will be up to users to figure out whether they are being sold junk through trial and error. This is slightly less than ideal, but it could still work because common users will learn which accounts are reputable over time, and then the platform will stimulate economic activity because it will allow people to resell the tickets for a profit after they become sold out.
Beyond that, I don't see many scam red flags or anything. The Aragon whitepaper was much less professional and had a huge success. One thing is that there is not much elaboration on "instant spendable rewards points." One possibility is that these rewards could be derived from the small fee that institutions pay to upload their tickets. But they also said that this fee would just be burnt off as unspendable to create deflation. So the only other option is that the institutions provide the rewards like frequent flier miles or something. How this all works out on the blockchain remains yet to be seen.