Fixing the Broken Rewards System

//Fixing the Broken Rewards System

Fixing the Broken Rewards System

By | 2018-03-16T13:02:39+00:00 October 6th, 2017|Travel|0 Comments

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There are a lot of fragmented travel rewards systems out there, many on a global scale. The idea behind Trippki is to create a more versatile rewards program that empowers guests to travel more often without sacrificing the security of their personal information.

Loyalty rewards programs are everywhere; from craft stores to gas stations. There are an estimated 3.8 billion loyalty program memberships in the US, but 54% of these accounts are inactive, according to a study by Colloquy. The travel industry is no different. There certainly are benefits to providing a loyalty program to your customer base, however, the current structure hinders its potential. Rewards function independently from each other, making it difficult for guests to truly benefit. If one was to cash out their points to book a hotel, they are often limited in terms of hotel locations, dates, and length of their stay. In addition, many rewards programs set these points to expire after a certain amount of time, leaving customers frustrated. This results in a high rate of inactive or lapsed loyalty membership accounts.

These broken rewards system are what inspired the team to develop Trippki. We want to provide a new kind of travel rewards program that allows points to be redeemable at the holder’s discretion. Trippki will accomplish this by leveraging the power of cryptocurrency and blockchain technology, through the use of our native token, TRIP. TRIP will be rewarded to guests in the form of a kickback after staying at a participating hotel. TRIP can be applied to a wide range of hotel amenities to encourage the guest to book specialty services, tours, dine at on-premise dining, etc. For the guest, TRIP has immediate utility as it can be used to pay for hotel bookings and services on Trippki as well as be exchanged into other cryptocurrencies, such as Bitcoin. This broadens the versatility of reward points and increases the transferability of points to better serve the customer’s needs. Travel reward programs mainly aim to benefit the guest, but with Trippki the hotels also benefit. Current loyalty membership programs require a large amount of maintenance on the owner’s behalf.

Trippki utilizes the distributed ledger of blockchain to dramatically decrease the amount of money and time required to establish and sustain customer reward programs. Additionally by using TRIP, hotels incentivize guests to promote them on social media, refer them to friends, and so forth, expanding their reach. While the current travel rewards system is desperately in need of creating a new, more flexible system in order to be able to cater to the needs of individual guests, it also needs to reconsider its handling and storage of guest’s personal information.

Current travel rewards programs, through both individual hotels and third party online travel agents, store massive amounts of personal information in data silos. These silos are at risk of security breaches, putting guest’s information at risk. By using blockchain technology, Trippki aims to fix this by utilizing an open protocol powered by an Ethereum-based token, instead of the traditional closed silo model.

Our goal is to build a decentralized travel rewards protocol that will help re-establish the line of communication between hotels and their guests, instead of relying on online travel agents, diversify the redeemability of travel reward points and secure individual’s data.

To learn more, visit or website at Trippki.com where you can read our white paper.

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