Travel and tourism have generated an approximate of $7.2 Trillion which is 9.8% of global GDP last 2016. Online booking comprises a majority of the revenues with 76% of those transactions conducted online. Because of this, the 76% of online booking frequently go into one of the major five agents governing the industry, collectively placing high percentage booking charges. In turn, decreasing and slowing the progress of these businesses. Due to the need of change over the last decade within online booking programs, this gives an opportunity for usage of the blockchain in the industry.
Travala provides a user-friendly booking and exchange platform using the NEO blockchain. The platform will be advantageous for vendors, offering them significantly lower costs to utilize the platform. Thus, enabling vendors to set a lower price for consumers but maintain a higher profit they are empowered to acquire. The platform will implement a transparent, safe and non-influential environment for consumer something which we haven’t yet seen inside the business.
What is Travala?
Travala (AVA) is a travel booking platform that is based on the NEO blockchain. The platform itself runs both a centralized front-end permitting suppliers to edit their listings easily while operating a decentralized backend combining the NEO blockchain directing the AVA engine. Formerly Concierge.io.
Travala will be developed as a decentralized application and web platform that enables us to move away from the traditional setups which are proffered within the industry at the current moment. Travala intends to be the most transparent, safe and reliable system for booking and purchase of all perspective of the travel and tourism sector.
By creating a community around AVA, it provides continued value to the system and what is built throughout it. Evidentially this will become moderately of a focus point for the performance of new users over to the Travala platform and NEO ecosystem. The platform accommodates ease of convenience for both consumers and vendors to both list and purchases anything upon the user-friendly platform.
AVA Monetary Reserve
By developing the community around AVA permits to broaden the added value brought to the system. By maintaining and establishing the AVA as the center software protocol will guarantee that Travala.com always remains fair. Thus, the payment arrangement for exchange of monetary value for the service being given can always remain effective, comprehensive in real-time and professionally regulated.
AVA will run autonomously and once the smart contract is deployed will indisputably subsist upon the blockchain. Operations and construction of the AVA back-end will be as followed:
• Booking placement
• Booking confirmation policy
• Check-in requirements & upgrade possibilities
• Deposit holding
• Deposit withholding
• Deposit release/refunding upon check-out
• Dispute trigger & dispute terms
• Managing bookings
• Optional history/reputation requirement for consumer
• Payment processing
• User profiling
• User review (Both consumer & vendor
AVA token is a currency that is both digital and decentralized, AVA token is accessible at the token distribution events. Transactions become definitive and there is no double-spending. The more recognition a merchant can necessitate before regarding the transactions to be completed, the less possibility a hacker can strive to make the network foundling the newest block in the blockchain.