KeyoCoin is a new startup in the field of blockchain technology and traveling. The company was founded in February 2017 and it secured seed funding to develop a technology based on a universal travel rewards platform for the mobile marketplace. With a decentralized token, the company intends to incentivize the exploration and to also enhance the experiences of the users.
By creating this system in which the users are rewarded for traveling, the company intends to create its own ecosystem that will feature over 12,000 travel products in four US market and six Latin American countries with the chances that these markets will be expanded over time.
This way, the company intends to gamify the $8 trillion USD travel industry by using the crypto rewards, a mobile marketplace and a decentralized token that will let people travel and have fun by completing challenges.
Not only the platform intends to make traveling for more fun, it also intends to use the blockchain technology to take the power away from the “hungry middlemen” and put it back into the hands of the travelers and travel providers.
Some of the most important people related to the company includes Rick Savage, Head of Social Media at Apple; Federico Pistono, an early Ethereum investor; Layla Revis, VP at Oracle; Tamara Camp, which is the former VP at Live Nation; Marat Gaziev, SEO Director at IGN; and Sarah Dandashy, Les Clefs d’Or Concierge of the Year.
The CEO and founder of the company is Matt Baer.
How Does KeyoCoin Work?
This platform was created as a way to gamify the experience of traveling around the world. As there is 1.3 billion travelers worldwide, this technology will be used to give them hospitality, tours and to give them access to the local experience providers at the same time that they can complete fun location-based challenges.
To think about how the product will work, just think of Pokemon Go. It will work in a similar fashion. According to the CEO of the company, the traveling industry is no stranger to how loyalty programs work but this program intends to be a lot more than that.
Normally, the loyalty programs are shackled by a lot of restriction on how you will be able to spend your points and get the rewards. If the rewards are not inspiring or can be a pain to get, the process to get the rewards often gets too frustrating.
By using the blockchain technology, the company intends to increase the efficiency of how these processes generally work and to turn them into something more than an afterthought but a reason why people will explore the world. According to the company, it is important the rewards are fun to earn and meaningful to spend or the whole process will not be really useful.
The KeyoPass App
The KeyoPass will be the main platform that people will use to access the KeyoCoin marketplace and to enjoy all the features that the market has to offer. The app will host an online marketplace that will have many tours and let the users find excellent local experiences.
This app will let local providers of experiences connect to the travelers more directly and bypass agencies that charge a high commission for connecting the two interested parties. Because of this, the creators of the KeyoCoin platform believe, the users will be empowered to make their own choices because nobody knows better than they what could be the best experience.
The tokens will be based on the Ethereum blockchain and they will be utility tokens that can be used to find real value because the users will be able to spend their tokens on tours, activities and accommodation around the world when they travel. The challenges of the company will be launched soon and they will include towns all over the world.
The KeyoCoin Verdict
This looks like a fun platform for you to travel around the world and get rewards while you participate in challenges. While it is still very early to tell for sure, we have good expectations about KeyoCoin and the ecosystem that will be formed by this token.