Big data is now a big industry, worth more than $203 billion annually. While the practice of gaining insights through the analysis of vast amounts of user data can benefit the large organizations that collect it, it’s typically tightly guarded and cannot be used by other organizations in order to foster the creation of new, more efficient services and products.
A new blockchain-based platform aims to change this paradigm, however. TravelChain is a new platform that wants to help both travelers and business profit by sharing their travel information, and claims to solve many of the issues that trouble the travel industry.
TravelChain aims create the world’s first decentralized data exchange specifically for the travel industry. In order to achieve this, the platform is set to launch an ICO that will generate the funds necessary to finalize the development process.
In this article, we’ll take a look at the TravelChain platform and find out what it plans to achieve. We’ll also take a look at the TravelChain ICO and break it down to help you determine whether it’s worth investing in.
What is TravelChain?
TravelChain intends to function as a globally scalable data storage platform that allows for data exchange in the travel industry. Built on the Graphene blockchain, TravelChain wants to make it possible for travelers to share their travel information on a customizable basis, allowing them to choose who can view their data, and when they are able to access it.
This process will allow travelers to profit from data sharing, which will be stored in a public blockchain. Through this architecture, small to medium size enterprises in the travel industry will potentially be able to access the same insights that large corporations benefit from.
Ultimately, this will result in the development of smart algorithms and services that are able to predict the desired and preferences of travelers, creating the “perfect tour” or product that is uniquely suited to the needs of individual users.
The TravelChain platform plans to integrate into existing systems as an application or a widget that offers data collection customization. TravelChain is already partnered with large market players in the travel industry, such as Tourister and Hotellab.
The TravelChain ICO
The TravelChain ICO will launch on December 15, 2017 14:00 UTC, and will make 693,000,000 TravelTokens available. The ICO has a hard cap of $10 million, and offers 33% of the total amount of TravelTokens generated for sale.
The rest of the tokens will be distributed between the TravelChain token pre-sale, early investors and founders, the TravelChain team, a development trust, advisors, and bounties. One TravelToken will be priced at around 0.0000016 BTC.
The TravelChain Verdict
TravelChain is an interesting proposition that could potentially allow travelers to benefit from sharing their data while simultaneously assisting service providers in creating better, more efficient products and solutions. If you’re interested in helping end the current travel industry oligarchy and bringing decentralization to big data, TravelChain is worth investing in.