Worldwide, the tourism industry is experiencing rapid growth almost every year. Tourism is a monopoly industry. At this time in the tourism industry there are a number of large centralized giants and small agents who follow their example. Due to their policy, they control the market of their own tour service, and in pursuit of high, they are quite exaggerating the price and this punch is taken by the consumers. The intermediary organization takes 10% -25% commission, which leads to high costs.
Such dominant companies do not seek to improve services or simplify outdated systems, but insteact companies spend a lot of resources to hold their customers in an outdated model; they do not seek to innovate and create artificial barriers to enter competing markets with a vision different. In this area we should highlight the following global issues:
- 1) Double marginization which is an example of negative external effects in the relationship between service providers in the market economy, as both intermediaries and service providers seek to maximize profits, make tourism a rather expensive hobby, and for citizens third countries are generally unavailable;
- 2) Currency risk Under conditions of currency depreciation of some countries in relation to others, these risks appear to be significant for service consumers, especially in long-term transactions. The client does not believe in the price when planning his summer vacation in advance.
- 3) International money transfers This type of service is offered exclusively by centralized finance companies such as Western Union, Intel Express and others. They offer their services with a rather high commission and run this operation for a long time; 4) Privacy and security. Travel companies have a very large database of their clients, but do not have the proper means of protection for this information. The result may be general access to thousands of information, and even millions of subscribers, their spare time, contacts and identification data.
Also, problems with debit and credit cards are part of the journey. In some countries, local ATMs do not accept your card. There is also a risk that your card may be lost at the ATM. Again, you will pay a high commission when you use your card abroad. The consolidated nature of the distributor's tourism platform creates a situation where intermediaries have no incentive to use new technologies. Instead, they spend resources to force their customers into outdated systems.
CoinTour is a decentralized platform based on blockchain ethereum, aimed at the implementation of innovation in the tourism industry, not only for travelers but also for tourism industry participants. It also aims to provide a reliable payment platform for the tourism industry and reduce the monopoly of the industry by other companies.
The main purpose of this platform is to solve some of the problems facing the tourism industry. The problem includes: High costs associated with commissions charged by tourism industry intermediaries, ranging from 10 -25%; Inappropriate ways to protect client information; Currency risk that occurs when the currencies of some countries depreciate
High commissions on international money transfers; The dual marginization of travelers as all players in the tourism services industry strive to gain maximum profit which leads to tourism being an expensive hobby to undertake.
Because this platform is blockchain-based, transactions are decentralized, safe, and transparent. It also makes it easy for businesses with complex business models. The platform will operate in a similar way to the Internet Reservations System for cars, hotels, and even tickets. It will contain thousands of ads from all over the world in multiple languages with 24/7 online support that is always ready to help clients.
CoinTour strives to provide owners of small hotels, property owners, and hostel owners with a platform that will allow them to get reviews from tourists, which will allow them to get ranked according to the criteria set by CoinTours.
This platform will give users the ability to order and make payments for services using cryptocurrency, which can lower the total cost of the price by up to 10-15% due to the lack of great cost and bonus availability and the accumulation of points from cryptocurrency. Due to the platform's versatility, users will be able to choose a hotel or apartment, book train or plane ticket or any other type of transportation that suits their expectations.
The benefits to the CoinTour Platform include: Security: The platform uses cryptocurrency protection, which ensures that parties not involved in a particular transaction can not access client information; Speed: Because it is based on ethereum, the client does not have to wait for a long time for the service to be confirmed. The service duration needs to be confirmed for about 16 seconds.
Lower transaction costs: Compared to other payment methods, transaction costs such as withdrawal fees for banks and ATMs are eradicated or lower; Mobility: CoinTours has a mobile app that makes use of the flexibility and convenience of the platform. Very easy to use; Transparency: This platform uses smart contracts for contract execution or agreement. This ensures that there is transparency in the provision of services
Reducing inflation: It protects clients from inflation and therefore clients should not follow currency fluctuations; Reduce risks: The risk of losing money in currency exchange is removed because payments are made through the platform.
Our goal is to create our own platform and a reliable means of public payment for tourism. CoinTour will serve as a solution to all the problems presented, as well as cryptocoin, made on the basis of blockchain technology on the Ethereum platform. We offer a large decentralized alternative, which in the future will be a major boost to Introducing Innovation and support for further development of the tourism industry.
CoinTour comes in the form of a digital currency named COT. The COT Token will go on sale from April 30, 2018 to May 30, 2018, at a price of 1 COT equivalent to 0.0001 ETH. The token purchase itself can be done with foreign digial currency such as ETH. Do not forget, get also purchase bonuses at certain time period.
CoinTour itself is the result of teamwork led by Andrew Stevenson, the CoinTour team that seeks to provide their best capabilities in this project. In addition, the team also strives to provide the best benefits and services, to anyone interested in joining the project.
So our ICO project review this time, hopefully can increase your knowledge in choosing the best project ICO to you invest. If you are interested in joining this project, or intend to buy a token in the sale. You can visit their official website and page below:
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