What is Travala? – Travala is a hotel and accommodation booking platform, covering over 500,000 properties worldwide. What should differentiate it from its global competitors like Booking.com is its drive to become a “next generation online travel agency” focused on cryptocurrency technology and the community built around it. With this in mind, the Travala team began implementing blockchain technology to help the travel industry cut costs, make travel packages cheaper, create a secure payment platform, and provide transparent asset management.
At the heart of this system is the Travala Token (AVA), which helps the platform offer tokenized incentives to its customers and any other users who can help the platform grow. This is usually done by providing property reviews and accommodation services and creating related content, as well as attracting other customers to the platform. AVA tokens are also available for savings programs and the rewards offered by the platform are proportional to the size of bets in users’ wallets. In addition to the AVA, users of the platform can choose any of the 40 supported cryptocurrencies to pay for their travel, including Bitcoin, Litecoin, Zcash, BNB, Dogecoin, and others.
Travala (formerly known as Concierge) launched in July 2018, following its initial offering of parts in April 2018, during which it was touted as a travel system that seeks to harness the power of the blockchain. The effort raised approximately $ 2.6 million, providing a solid foundation for expanding the platform to more than 200 countries. Key personnel behind the project include Steve Hipwell, Travala’s founder and COO, and Matthew Lopez, its CIO, CFO and co-founder, as well as numerous consultants with experience in the travel and blockchain industry.
What is Travala trying to achieve?
The Travala project was initially launched with the aim of correcting some of the perceived shortcomings of existing travel platforms available around the world, including:
- Travala wants to make encrypted payments the best choice in the travel industry . One of the inspirations for the Travala launch was the Expedia case , a global travel booking giant, which dropped support for Bitcoin in mid-2018. After that, you might say Travala was designed as a crypto equivalent of Expedia. , with the same level of support for fiat and cryptocurrency payments, which have instant confirmations, guaranteed booking and no booking fees. Beyond that, Travala ultimately aims to become a travel platform where cryptocurrencies come first and second.
- Travala is presented as a cheaper travel option, with no hidden costs and less transparent practices. . To begin with, Travala users should have access to a range of exclusive hotel offers, going up to 40% on all properties included in the Travala offer. This stems from Travala’s commitment to avoid putting commercial pressure on hotels and travel services in order to maximize their rental income and seek to reduce costs at the expense of customers. Travala promises to combat the high commissions sometimes promoted by online travel agencies, whose customers are forced to pay largely “invisible” commissions. On this basis, Travala describes itself as cheaper by at least 15% on average, compared to its competitors such as Expedia or Booking.com. Furthermore, Travala prides itself on offering no hidden costs, such as those found on Airbnb, for example,
- The implementation of the AVA token is expected to make the Travala ecosystem more attractive to users who still have doubts about the use of cryptocurrencies in the travel and tourism industry . For customers who opt for the AVA token, Travala will offer them to participate in its loyalty and discount programs. These should give them an additional 10% of their savings on AVA tokens, depending on the reward levels for the token and referrals. Additionally, AVA tokens serve as a means of payment for all refunds on the Travala platform, regardless of the currency used for the initial payment. Finally, AVA tokens are used to cover the cost of fuel incurred by partner platforms whenever they wish to use Travala’s infrastructure for the benefit of their travel offers.
The Travala team plans to develop their project around the idea of the user’s trip, starting with the planning and organization of the trip and ending with the obtaining of the AVA tokens:
- The journey begins with a visit to the Travala.com website, which serves as a clearinghouse for information on the travel arrangements available with advanced search features. New users will be invited to register, with the benefit of receiving a reward for joining the platform in the form of an AVA token. Returning users will be advised to purchase or deposit new tokens if their AVA funds are low.
- Users can initiate the booking process by providing the necessary information and making a decision on how to make payments, including fiat currencies, AVA tokens or other cryptocurrencies. This may be largely due to the need to offer the most attractive promotional prices and discount offers available only for payments made with AVA. In this case, AVA tokens can be used to pay for the entire booking agreement or a fraction of its total amount.
- Once users are gone, their personal Travala-based control panel will be used to manage all confidential agreements. There is also a selection of Travala Strategic Partners who accept AVA tokens on the site as payment for additional upgrades and services on the go, with the ability to access better rewards at the end.
- Once their journey is complete, users have the opportunity to take stock of their experience. These reviews must be cryptographically verified as genuine before they are considered eligible for rewards in the form of an AVA token. Tokens are also awarded for customer referrals which should not be limited to the Travala platform itself, but to the property the traveler was staying in. Additionally, users are encouraged to work on their reputation based on the platform, as those who score high enough become eligible to receive AVA tokens. Reputation is earned by being rated by other users who find the content and comments provided helpful.
The Travala platform is based on three main levels that form the heart of its ecosystem:
- The Travala Däpp layer . This level works like the platform user interface. Its main function is to allow customers to browse sellers’ offers and complete their bookings as they wish. The layer also supports access to the built-in Travala wallet used to store tokens as AVA. The DApp layer also acts as a support engine that allows users to post their reviews of the services they have received using the Travala platform. Finally, this tier connects customers with special offers and additional services such as travel insurance.
- The level of the Travala protocol. This level drives the underlying economic engine of the platform. It supports the implementation of the contractual standard NEP-5 on the whole level. The protocol layer hosts a series of smart contracts that govern the interactions between all stakeholders in the Travala ecosystem, including travelers, suppliers and strategic partners of the platform. The platform uses a chain of NEO blocks for booking, with a new smart contract that is implemented every time a booking is made.
- This level also plays an important role in enabling the transfer of value to the platform, including economic transactions and the return of reputation. This is done using proxy smart contracts, which help establish the validity of the process and give the green light to transfers for the stakeholders involved. Examples include token-based value transfer between customers and service and property providers, such as when accommodation bookings are confirmed.
Travala’s Consent Level mainly manages the underlying records on the Travala platform. Since this layer is based on the NEO blockchain foundation, it also uses the dBFT (Delegated Byzantine Fault Tolerance) protocol that combines the functionality of the Delegated Proof-of-Stake system .
The Travala team promotes this system as being able to process around 1,000 transactions per second, with plans to increase its scalability to around 100,000 tx / s over the next few years. This layer serves as a repository for government documents containing essential information relating to key stakeholders in the platform economy. Again, proxy smart contracts are used to track states related to monetary operations and data management. Examples include tracking users’ token balances and their defined commitments under smart contracts. Based on this, the platform is able to verify the reputation of individual users and confirm it as trustworthy.
Founded in 2017, Travala.com has grown from a small startup to the world’s leading blockchain-based travel booking platform, recognized by thousands of customers around the world as its favorite online travel agency.
At Travala.com, they connect travelers to one of the world’s largest selections of great places to stay, including everything from
hotels, apartments, villas and inns to 5 star luxury resorts. The Travala.com platform currently offers more than 2,200,000 properties covering 90,124 destinations in 230 countries and territories and with prices up to 40% cheaper than conventional travel booking platforms.
They have managed to create a frictionless travel booking experience that incorporates next-generation blockchain technology and token incentives. By introducing a cutting-edge user experience and more traditional cryptocurrencies and payment options along with the benefits of our proprietary AVA cryptocurrency, our customers know they are booking with a platform of the future with transparent pricing backed by our Best Price Guarantee.