Travala is an already-operational one-stop travel booking platform which combines the best of this generation’s booking website functionality with the incredible benefits enabled by next generation’s decentralized technologies and tokenized incentive structures. The Online Travel Agency (“OTA” e.g. Expedia, Booking.com, Ctrip, Tripadvisor etc.) model was revolutionary when it arrived over ten years ago, but in its current form is broken, with an
oligopolistic market (9 of the top 10 sites owned by 2 players) featuring high middleman fees and limited product differentiation. This lack of true consumer choice has been well-hidden to-date, through clever multi-site branding and dialled-up discounts given on high mark-ups, but cracks are beginning to appear in the façade. Early disruptive developments in the travel industry, such as that brought by Airbnb, showed that consumers are ready to migrate to platforms which empower smaller suppliers and make more relevant the impact of user reputation and
As a core enabling technology for Travala, Blockchain signifies a third evolutionary leap for human connectivity (firstly voice telephony, secondly data transmission), and is now empowering real value exchange between network participants. In the travel industry, where a central authority was previously required to validate bookings and guarantee payment, it is becoming possible to link buyers and sellers directly to benefit from lower fees, instant payments and trustworthy reviews.
In parallel with the change in our surrounding technologies, consumer demographics and their preferences continue to evolve. Younger generations of consumers are driving the movement towards decentralized technologies, best symbolised by the rise of Bitcoin and other peer-to-peer cryptocurrencies. Most importantly, demographic groups such as that referred to as Gen-Z (born between 1995 and 2010, the eldest now 23 years of age in 2018) are fundamentally different consumers to those classified as Baby Boomer and Generation X. Gen-Z dislike the established order, have not yet formed their brand loyalties, and yet are tech-native and extremely sociallyaware.
This generation of consumers are expected to travel more than any group before them, but are also forecast to do so in new ways. Travala, as a Next-gen Online Travel Agency (NOTA), fundamentally changes the relationship between this consumer of the future and their travel shopping. Travala’s target market benefits from:
• A globally-competitive range of travel services; Accommodation (Hotels, Resorts, Hostels), Flights, Things to do (Tours, Activities, Experiences), Restaurants, Transfers, Car Rentals, Vacation Rentals and Cruises
• Always available at a minimum average of 15% lower than current mainstream OTAs; enabled through agile integration of the leading wholesale travel solution partners
• With both leading cryptocurrencies and traditional (FIAT) currencies as payment options
• Boosted with discounts and special offers direct from brands and suppliers
• Validated through blockchain-verified reviews for 100% feedback authenticity
• Underpinned by a token-powered incentivization economy which gives real rewards for valuable acts such as user referrals and key-opinion-leader content
• Innovative UX design and user mechanics for a best-in-class user experience
This Travala value proposition is powered by the AVA token, the native digital asset of the ecosystem. It enables users to benefit from the largest possible discounts when booking their next trip, is given to contributors who help grow the platform through authentic reviews and other content, rewards those who make successful referrals, and is paid as fuel cost by other platforms when they leverage Travala infrastructure to improve their own offerings. As the Travala consumer base continues to grow, usage of the AVA token is integral to their experience on the platform. With its use incentivized by real-value rewards, demand for AVA can be expected to grow in-line with platform adoption, leading to the establishment of a healthy internal token economy from which all stakeholders may benefit.