Blockchain for flight delays. TrustaBit uses blockchain technology with smart contracts to automatically issue flight vouchers to passengers when their flights are delayed.
About TrustaBit
TrustaBit is a state of the art software solution that will give airlines the opportunity to automatically issue vouchers to passengers when their flights are canceled or delayed. The total passenger rights market is estimated to be $3.3 billion annually. Since 2013, AirHelp has collected $85 million in total compensation from passengers who have had their flights delayed. AirHelp functions as a middleman; the passenger provides information about their flight to AirHelp, who then works directly with the airline to get compensation on the customer’s behalf. To date, a total of 1.3 million passengers have used this service and they have paid AirHelp a fee of 25% of the total amount collected. These numbers show that passengers are willing to pay extra for a trust worthy digital service that will give them what they are owed.
In the European Union they have established EU261 which states that airlines have to pay a compensation to the passenger in the range of $261- $626 depending on the time and distance of the flight. In the United States there is no specific law to help with delayed flights unless you have an international itinerary, then the Montreal Convention will apply. Many US carriers still choose to compensate passengers for the inconvenience of those delays and cancelations.
Your airline can increase its return on investment for passenger compensation by directly offering their customers a more efficient and convenient way to receive their vouchers. Our smart contracts will allow your customer service agents to focus more on “the tricky” situations while leaving the mundane and repetitive work to our system. Long waiting times, subpar customer service and excessive administrative procedures are among the current pain points for passengers who attempt to collect vouchers directly from an airline." When you implement our blockchain solution you can increase your customer loyalty and take advantage of this new market segment. According to a J.D. Power study, “When passengers choose an airline based on reputation or experience – as opposed to cost or schedule- satisfaction and brand loyalty increases.”
HOW TRUSTABIT WORKS
TOKEN UTILITY
We are building an ecosystem where a user who has an expiring voucher can trade that voucher for TABs. TABs are a proprietary "currency" of sorts which be used in a similar way to an online gift card or voucher, except that it is more elastic and secure. The day the user receives a voucher is when it holds the most value in TABs. As the voucher ages it becomes less liquid.
We are fully aware that not all airlines offer transferable vouchers. Some rules state that the user you are transferring the voucher to has to be booked on the same flight as the original voucher holder or must have the same last name as the original voucher holder. Some airlines like Qantas have fully transferable vouchers. We intend to keep running ledger of all flight voucher rules that will be made visible to our community of users.
After 2011, most of the major airlines changed their policy so that vouchers were no longer transferable. Vouchers are historically susceptible to security risks including internal and external fraud. Through the implementation of blockchain technology, TrustaBit will allow major airlines to track issued vouchers so that a secure chain of transfer can be generated which will provide the encrypted details needed to track the senders and recipients of funds.
TOKEN ALLOCATION
DISTRIBUTION OF FUNDS
- Token TAB
- PreICO Price 1 TAB = 0.05 USD
- Price 1 TAB = 0.10 USD
- Platform Ethereum
- Accepting ETH
- Minimum investment 0.15 ETH
- Soft cap 3,000,000 USD
- Hard cap 49,000,000 USD
- Country USA
- Whitelist/KYC None
- Restricted areas China
Milestones
Q4 2017 Idea Creation
- Global airline voucher market research
- Whitepaper
- Registration of legal entity
- Technical feasibility assessment
Q1 2018 Token sale
- Team set up
- Token presale
- Token sale
- Distribution and creation of TABs
Q2 2018 Development
- API integration with Blockchain technology
- Smart contract development
- Security audit
- Formation of strategic partnerships
Q3 2018 Business Development
- Brand awareness initiatives
- International marketing campaigns
- Worldwide launch of TrustaBit API
Q4 2018 Growth Strategy
- Product Development
- Increase our addressable market
- integrate TrustaBit into broader market’s (retail, hospitality, tourism)
Team
- Saritta Hines Founder / Chief Executive Officer LinkedIn
- Blair White Founder / Chief Sales Officer LinkedIn
- Woody Means Chief Technology Officer LinkedIn
- Jaymes Hines Chief Marketing Officer LinkedIn
- Kelvin Ndereba Blockchain Developer LinkedIn
- Sheletha Drew Senior Corporate Tax Analyst LinkedIn
- Samuel Dare Lead Hyperledger Developer LinkedIn
- JaMarr Johnson Director of Marketing LinkedIn
- Landon Williams UX/UI Designer
- Hakar Sulaiman Creative Design Engineer
ADVISORS
- Mahroze Baloch Corporate Transactional Attorney LinkedIn
- Casey Gardiner Co-founder at DigiWallet LinkedIn
For more Informations:
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Author: bakso.super
Profil link : https://bitcointalk.org/index.php?action=profile;u=1785483
ETH: 0x0A39Baaa338F9F1f5f5b4e52f82095d0dD7c94D8