FAQ 2018-05-15T08:06:56+00:00

Frequently Asked Questions

What is Trippki? 2018-05-15T07:53:27+00:00

Trippki is an ecosystem application that revolutionises the hotel booking industry by disintermediating existing OTA (Online Travel Agent) models. Trippki takes a crypto-economic approach to incentivise the direct sharing of value between hotels and the customer. By using the platform customers earn TRIP Token, a crypto-asset based loyalty reward.

For the customer Trippki is a familiar user interface of a hotel booking platform, yet with much better deals in terms of rewards and promotions.

Who is building the Trippki Software? 2018-01-22T10:00:31+00:00

The Trippki team has a mix of expertise across OTA software, decentralised technology and payment systems. Dapphub (the team behind Maker DAO) are building the Token Contract and are advising on the Smart Contract infrastructure. Our in house technical team are the primary architects and developers for the reward, payment system and front end application and will work with contracted third parties as required.

Why are you building on the Blockchain? 2018-01-22T10:00:00+00:00

Online hotel booking is a classic example of a market that heavily relies on intermediaries. This creates overheads at the expense of customers and businesses, while third parties profit. This is what Blockchain technology was designed to disrupt.

Blockchain technology allows the creation of a decentralised digital economy that doesn’t rely on a third party to function. That magical innovation allows for our protocol/token, TRIP, to be a non-dilutive alternative to traditional loyalty rewards schemes, while allowing value to be shared amongst the eco-system participants.

Why Ethereum? 2018-01-22T09:59:30+00:00

Ethereum provides the most mature infrastructure and tools for building complex DApps and has a strong community of developers working to continually improve the ecosystem. Ethereum is not trivial to work with, but our team has an understanding of how to make the best use of the infrastructure having followed the project since it’s inception.

Trippki will always run on top of Ethereum, yet as new decentralised application platforms come along (i.e. EOS, DFinity) we will consider integrating with them only if it improves the Trippki ecosystem.

Is your product decentralised? 2018-01-22T09:59:07+00:00

Trippki is an open protocol and is designed to evolve into a fully decentralised autonomous economy. TRIP token is fully decentralised from the start, as well as other fundamental components. To bootstrap the system some of the transactions will be processed on servers including fiat transactions to ensure wide adoption. During the bootstrapping phase we make sure that all the off chain components are incentivised to act honest, and have no way to manipulate the system. For more information read the architecture section of the WP. Initially the UI is hosted centrally but once the MVP is out releasing Swarm and IPFS versions is on our roadmap.

What is the difference between Trippki and other reward token schemes? 2018-01-22T09:58:46+00:00

Whereas traditional reward points are inflexible and difficult to redeem, TRIP tokens are a cryptographically secure and decentralised token that are redeemable at the holder’s discretion.

What is the difference between Trippki and Travelcoin or Winding Tree? 2018-01-22T09:58:22+00:00

Trippki supports any decentralised project associated with Travel that supports the ecosystem. All of the teams building decentralised solutions for travel industry are doing very important work, all are covering different areas.

For example, apart from differences in crypto-economic design – Winding Tree is not planning to deliver a user facing product, and expect third party engineers to build on top. We believe that a good UI is a cornerstone of wider adoption of the system. And the adoption is necessary to make the economics work.

Is there a pre-sale? 2018-07-05T14:53:10+00:00

For detailed pre-sale conditions please ping us on Telegram. t.me/trippki

Will Trippki tokens be traded on exchanges? 2018-07-05T14:55:19+00:00

Yes of course this is one the key aspects of Trip Tokens unique transferability versus existing rewards programmes.  We have signed a contract with BlockEx and once the ICO has concluded then the tokens will be available on the BlockEX Exchange.

How can I participate in the Trippki Token distribution? 2018-07-05T15:55:21+00:00

As of today 5th July 2018, Trippki has partnered with the BlockExMarkets.com trading exchange and therefore contributors can now make contributions in either ETH, BTC or FIAT.  The FIAT payments accepted are: EUR, USD, GBP, CHF, PLN, DKK, NOK, SEK.

Funding can be paid using: Visa, Mastercard, Maestro with a minimum deposit of EUR500.00 or Bankwire transfer / swift

Don’t send any ETH/BTC from exchanges, and only send ETH/BTC from an address that you have full control over.  Only send ETH/BTC to the address stipulated by BlockEX when depositing.

 

How much are you planning to raise? 2018-05-15T07:57:25+00:00

We have set a Soft Cap of ETH 3,600 and a Hard Cap of ETH 27,500.  We have set the Soft Cap of ETH 3,600 to allow participants to take full advantage of pre-sale bonus discounts while still providing Trippki with enough funds to develop, launch and market the solution. The difference between the soft cap and hard will give us extra marketing funds to achieve network affect in a shorter time frame.  Unlike many other ICO’s increased funds will allow us to acquire users quicker and become a key player in this $550b industry.

Which currency do you accept for the token launch? 2018-07-05T15:31:40+00:00

With our new strategic partnership with BlockEX, contributors can now buy into the Trippki ICO with ETH, BTC or FIAT.  BlockEx accepts payments in EUR, USD, GBP, CHF, PLN, DKK, NOK, SEK.

Funding can be paid using: Visa, Mastercard, Maestro with a minimum deposit of EUR500.00 or Bankwire transfer / swift

 

 

What wallet should I use? 2018-07-05T15:37:51+00:00

TRIP is Ethereum based so you can use any Ethereum wallet that supports ERC-20. We recommend MyCrypto or Metamask – both are very easy to use. We also recommend Hardware wallets such as Trezor, Nano Ledger and Keepkey. More advanced users are of course welcome to use their favourite Ethereum implementation.

Can I use Jaxx? 2018-01-22T09:50:31+00:00

Jaxx will not display TRIP token balances. Use the wallets we have recommended. However if you do send ETH to Trippki token sale contract from Jaxx, follow their instructions on how to export your keys. You will see your TRIP balance and will be able to use your TRIP after uploading those keys to a recommended wallet. Please, keep your private keys secret & take care of the passwords from the private keys you keep encrypted.

Can I use Exodus wallet? 2018-02-06T16:10:23+00:00

Please, use recommended wallets. Exodus is not open source (which means its security can’t be publicly audited) and requires a registration.

Can U.S. residents take part in the Token launch? 2018-07-02T09:24:47+00:00

Unfortunately residents and entities based in the US, Canada, China, Burma, Cote d’Ivoire, Cuba, Iran, North Korea, Syria are excluded from purchasing Trippki Tokens during the token distribution. This applies to US and Canadian citizens, in part, due to the logistical challenges associated with differing regulations in the many states of the United States of America.

How is Trippki structured legally? 2018-01-22T09:49:26+00:00

Trippki is a legally registered entity of Gibraltar and has a research group based in the UK.

What is the expected RoI? 2018-02-06T16:11:23+00:00

TRIP is a functional token that powers the Trippki reward system.  TRIP Token value comes from the access to a cost efficient, universal, loyalty points system in an industry set to be worth over $1trn in 2020.

Is this software opensource? 2018-01-22T09:48:08+00:00

Yes. The Ethereum Blockchain is public and all our codebase is open source.

Is there a Github repository? 2018-02-06T16:12:30+00:00

Yes.  Will update our Trippki organisation public repository with new content as it is being released. Please visit https://github.com/Trippki/

What is the impact of TRIP price volatility on the Hotel? 2018-05-21T09:11:16+00:00

It is anticipated that the hotel will manage the price volatility of TRIP through its normal treasury management operations. The hotel will have the ability to buy, sell or hold TRIP tokens according to how actively involved the hotel becomes in the management of its tokens. For example, the hotel can limit price exposure by buying and selling TRIP immediately at the time of the transaction. Alternatively they can hold or trade the tokens for value. The price of TRIP in the market will be solely a factor of supply and demand.

Is this an open protocol that businesses can integrate with (build apps on top?) 2018-01-22T09:46:58+00:00

Absolutely! As a matter of fact it’s what we find extremely exciting about the TRIP protocol. Its decentralised nature makes it unstoppable and could plug into any application in need of a global reputation and reward ledger.

What is the impact of TRIP price volatility on the Guest? 2018-05-21T09:11:29+00:00

The exciting thing about TRIP tokens is that they are a fungible, fully flexibility loyalty reward that will have wider utility as the network grows. The price of TRIP will be solely a factor of supply and demand.   If the price of TRIP increases then the Guest will own a more valuable reward and will need fewer tokens to spend on hotel room bookings or buying ancillary goods and services. Conversely if the price of TRIP decreases then hotel guests will have the opportunity to earn more tokens in the expectation that the price of the tokens will increase as the network grows. At any point in time the Guest can exchange their TRIP tokens for other cryptocurrencies or fiat if the token is not meeting their expectations.

Wouldn’t Gas price be cost-prohibitive for the Trippki ecosystem? 2018-01-22T09:46:36+00:00

Trippki is at an early stage and we see ourselves not only growing with Ethereum, but also contributing resources towards research regarding scalability. We love the work that the guys at TrueBit and Raiden are doing and will support it as we can.

Is Trippki scalable? 2018-01-22T09:46:18+00:00

The Trippki reward protocol has been designed to scale. But we are aware of questions regarding Ethereum’s own scalability. Trippki project is planning to put a proportion of funds and available skill into researching and contributing to the development of scalability solutions (i.e. TrueBit, Raiden) as well as working on in house payment channel implementations.

How will customers receive their tokens when making a booking? 2018-01-22T09:45:41+00:00

Whenever a customer completes a transaction with a hotel (this can be payment at checkout, payment on reservation after the cancellation period, or whatever the hotel wishes it to be) the service rewards the customer with TRIP tokens. The TRIP will be sent to the customer’s wallet, which will be associated with their reputation and ID.

How will customers store their Trippki Rewards? 2018-01-22T09:45:25+00:00

TRIP can be stored in a digital wallet and the Trippki team is actively engaging with ERC-20 based storage solutions such as hardware wallets and debit cards.

How the funds will be distributed? 2018-05-15T07:59:12+00:00

The majority of the funds raises (93%) will be used for system development, marketing, business development and operations (on-boarding hotels). The remainder of the funds will be used for administration and legal.

Who will control & audit The Vault? 2018-05-15T08:00:40+00:00

The Vault is a smart contract whose function is to bootstrap uptake of the Trippki Reward Service. 40% of the total supply of TRIP will be made available for distribution through The Vault.

Will Trippki charge commission in the same way as other OTA’s? 2018-05-15T08:02:08+00:00

Initially, for hotels that use the Trippki UI there will be a service fee of 2.5%, which is dramatically lower than any other OTA platform. We can work with this level of fee due to the crypto-economic approach incentives of the TRIP Reward System. Our eco system is about sharing the value between hotels and customers and traditional models share it between OTA’s and Search Engines and advertisers.

How do customers get a discount without breaking price parity agreements? 2018-01-22T09:42:53+00:00

Trippki’s customers will receive TRIP loyalty rewards. The value of the overall transaction is equivalent the price agreed by hotels with other OTA’s and hence does not break price parity agreements.

Do the customers have to pay with Crypto or Fiat or Both? 2018-01-22T09:42:32+00:00

Customers will be able to pay with cryptocurrencies as well as other traditional forms of payment (i.e. PayPal, credit cards). As much as we love cryptocurrencies, we do understand and appreciate that in the short term many guests would still like to pay by traditional methods.

Have any hotels shown interest? 2018-05-15T08:03:29+00:00

We have already signed up 13 independent hotel groups (Phase 1 hotels) to participate in the MVP beta testing and on-boarding to the final product. We are in discussions with a further 7 hotel groups (Phase 2 hotels) to on-board once the phase 1 process is complete. We are also in discussions with a number of hotel booking platforms which will give Trippki access to a significant number of hotels; our plan is to include at least one such platform in the MVP beta testing phase.

How will Trippki compete with the likes of Booking.com and Expedia? 2018-05-15T08:04:18+00:00

Trippki has a deep passion towards creating a better relationship between hotels and their customers. Trippki will offer a differentiated hotel booking platform, which will exist alongside all the current OTAs including  Booking.com and Expedia. Trippki will offer lower channel fees to hotels and a crypto-asset  loyalty reward, TRIP tokens, to guests who book through the Trippki booking platform or directly through participating hotels and booking platforms. Through the economic incentivisation of TRIP rewards and affiliate marketing strategies we believe we can create a network effect and grow Trippki market share.

Trippki doesn’t have $4 billion dollars of advertising revenues, so how will it be effective in advertising the hotels to guests? 2018-02-06T16:15:36+00:00

We believe in economically incentivising the hotels and their customers. Our Loyalty token TRIP is highly attractive due to its transferrable and tradable nature allowing individuals the freedom to spend it wherever and however they choose.  TRIP allows hotels to tailor-make the offering to their guests, something that they cannot do for you right now.  It’s a win-win eco-system.

Is Trippki similar to Airbnb? 2018-01-22T09:40:55+00:00

Trippki is not similar to Airbnb. Our driver of demand is the distribution of TRIP, making sure that all counterparts are incentivised proportionally. We believe that a token based economy will allow for a fairer resource allocation and therefore will liberate hotels as well as individuals.

Do the hotels need to understand anything about cryptocurrencies generally to use Trippki? 2018-02-06T16:16:36+00:00

Hotels need no understanding of cryptocurrencies to participate on the Trippki platform. Hotels will be paid in whatever currency they prefer either fiat/crypto through our in-built payment system.

Still need help? Send us your question!

Join our forums or email us at info@trippki.com and let’s start the conversation.

FAQ Foot