63
views

Tripedia Review – Reshaping the Travel Industry through Blockchain and AI

Tripedia aims to leverage blockchain technology to modernize and reduce the centralization of the tourism industry.

Blockchain is consistently proving its use and benefits in increasingly more industries. And, rightfully so, many sectors could prosper should they implement this technology. It is the case of the tourism industry, which is struggling with the monopoly of Online Travel Agencies (OTAs). The latter relies on colossal data traffic to take the largest market share and prevent smaller companies from surviving.

Through blockchain technology, the travel market participants can equally participate and have similar odds of success. For instance, all the industry players can meet in one venue to share information and trade resources. And, Tripedia seeks to offer this platform through an innovative AITD (Artificial Intelligence Travel Designer).

This short Tripedia review looks at this project’s chances to reshape the travel industry landscape. Read on to discover its features and services!

What is Tripedia?

Tripedia plans to become a blockchain-based ecosystem with plenty of features and applications bespoke to the travel industry. 

In time, the platform should become a DAO (decentralized autonomous organization). Lastly, one day, the developers want to hand over the management rights to the community. Then, all the tourism market participants of the Tripedia platform will equally participate in its development.

Tripedia was born as a solution to the current block in the tourism sector. In many countries, the COVID-19 pandemic has decimated travel agencies and platforms. However, in other states, tourism is coming back and should explode once the pandemic dies down.

Nevertheless, once global tourism recovers, it cannot rely on OTAs again. These online giants weaken other travel agencies’ business opportunities. Also, they create information barriers to monopolize customer spending. Furthermore, they act as an intermediary between travelers and service suppliers, thus taking money from both.

Tripedia Foundation initiated a decentralized service platform, Tripedia, to overcome these issues. For instance, it relies on blockchain technology to ensure security for both travel operators and their customers. Also, it reduces the need for intermediary travel agencies and middlemen. This way, everyone enjoys a higher level of trust at significantly lower costs.

Additionally, through its proprietary Artificial Intelligence Travel Designer (AITD), Tripedia uses data intelligence to provide bespoke travel plans for tourists.

Tripedia should benefit

  • Individual consumers
  • Travel companies
  • Suppliers, such as airlines, car rentals, hotels, restaurants, and tour guides
  • Smaller tour operators and travel agents

To them, the platform promises transparency and equity. For example, Tripedia will take only a small transaction cost for system maintenance. Meanwhile, it will not charge hidden fees or target customers, depending on their search history.

Tripedia Core Features

Tripedia takes pride in the intelligent design that is built on the Ethereum blockchain. Through it, travel operators have quicker and better access to resources. On the other hand, individual consumers can find personalized travel options more effectively.

The platform uses peer-to-peer (P2P) communication to help consumers and travel companies connect directly. Through constant growth and information traffic, the ecosystem will accrue value. However, contrary to OTAs, Tripedia will redistribute it in various benefits to its users.

To support this concept, Tripedia comes with a series of features, such as:

The $TRIP token

The entire Tripedia ecosystem relies on the TRIP token for optimal functionality. This virtual asset will have numerous functionalities on the platform, such as:

  • Consumers can use it to pay for transportation, accommodation, and other travel-based products and services.
  • Users can earn it by sharing travel resources and information, which powers the AITD (AI Travel Designer)

The more consumers and companies Tripedia has, the higher the demand will be for TRIP tokens. As a result, its value should increase considerably. Also, the platform will refund all the nominal maintenance fees to the ecosystem.

In a recent interview, Tripedia CEO and Co-Founder Joseph Zheng said that the project doesn’t limit $TRIP use. For instance, the token could serve to buy anything from airplane tickets to luggage in the future.

The platform already listed $TRIP on CoinGecko. At the time of writing, it had a 24h trading volume of around $5,150.

A Decentralized OTA

The Tripedia Ecosystem opposes the traditional, centralized OTA system with a decentralized version that efficiently connects customers and suppliers. Here are a few of its key features:

Registration

Every customer registering on Tripedia obtains a unique digital ID and private key. Also, they get to authorize which of their data is accessible via the platform.

Search

Users can upload their travel requests to the blockchain and find matches from travel companies. Similarly, suppliers can provide travel advice to users. All these interactions take place swiftly, thanks to the platform’s AI model.

Booking

Whenever a booking takes place on the platform, both the user and the supplier receive TRIP tokens.

Reviews

Tripedia’s sidechain records customer reviews after every service purchase. However, if evaluation suggests an intentionally negative review, the customer must pledge a certain number of tokens. After the assessment, the user gets the tokens back if the corresponding supplier agrees on the review’s authenticity. This system prevents false negative reviews from recording on the chain.

Lastly, the Tripedia team does not intervene in disagreements between users but only when transaction disputes occur.

Artificial Intelligence Travel Designer (AITD)

Tripedia uses AITD to create travel plans bespoke to the users’ needs. For instance, customers only have to submit their information and travel preferences to the platform. Then, the AITD uses previous reviews, user experiences, accommodation, and flight availability to customize the ideal itinerary.

Contrary to traditional machine learning algorithms, the AITD uses blockchain technology, which learns consumer preferences as they arise. So, the more people use Tripedia, the more accurate the AITD model becomes. As a result, travel plans have become more personal than ever.

Lastly, users only have to approve the travel plan that AITD provides. Next, the itinerary goes forward, making all the necessary operations using a decentralized application (DApp).

Advertising

Tripedia also provides an Advertising System for third-party travel suppliers. For example, hotels, airlines, restaurants, and more can advertise their services on the platform using TRIP tokens to buy ads. Furthermore, suppliers can recommend each other to customers and obtain reward tokens.

Ethereum Smart Contract

Tripedia uses an Ethereum-based DApp to enable users to share data in the ecosystem. To counter the effects of Ethereum issues, such as high computing costs, Tripedia will build a dual-chain system. Also, this mechanism will consist of smart contracts and off-chain services encapsulated by Oracle to form Tripedia Protocols.

The system should provide Tripedia users with easy ways to upload information to the blockchain. Furthermore, the off-chain feature will store the data through a hash string chain through a distributed file storage system (IPFS). On the other hand, the on-chain application saves the unique hash, thus ensuring data authenticity. This practice diminishes the pressure on data storage on the chain, enhances security, and guarantees system efficiency.

Cloud Service

Tripedia also provides a cloud service allowing travel suppliers to access critical information in real-time. Also, they can use this option to operate and promote their businesses in a safer environment. In return, they receive token rewards.

Payment Model and Cross-Chain Service

Tripedia uses a unified payment interface that enables suppliers to access the Tripedia payment service safely. Here’s how that works:

  • The customer uses the Tripedia DApp to complete the one-click payment.
  • The data will automatically upload to the chain.
  • The customer, as a data contributor, can receive TRIP tokens as rewards.
  • The customer’s payment in tokens reaches the supplier’s wallet directly and in real-time.

Through Tripedia Payment Model’s unified API interface, payments occur faster and without the need for an intermediary. Therefore, the supplier does not have to worry about payment details.

Lastly, Tripedia’s payment mechanism uses several risk control functions. They include payment, digital ID, and credit checks for both customers and suppliers.

Final Thoughts

Tripedia live price
Trip
Tripedia
$0.0000000000
price
%
price change
BUY NOW

As the DeFi universe expands, it is logical to incorporate groundbreaking initiatives regarding all aspects of life. And, Tripedia wants to be the one revolutionizing the travel sector. For now, we can say it is an innovative and promising project. However, time will tell how much traction it will get from other industry participants to really make a difference.

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Learn More

Stay up to date with our latest articles

More posts

Silicon Finance Review – A Project Aiming to Solve DeFi Issues

One of the hottest trends in the blockchain universe is the application of decentralized finance (DeFi) solutions. Today we will impartially review for our readers the Silicon Finance project, a new DeFi initiative aiming to solve a series of industry issues. The project’s team aims to achieve an increase in the safety of DeFi, with obvious benefits for the whole blockchain community. Furthermore, the initiative will look into a way to introduce more democracy and equality on Initial Dex Offerings…

WMA: Bitcoin and Most Altcoins Are Back Trading in the Green

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,088 trillion. Bitcoin is up by almost 3% after a week of recovery. Ethereum increased by roughly 7% after seven productive days. XRP is up by almost 43% this week. Most altcoins are trading in the green, with very few exceptions. The DeFi sector added over $3.5 billion to the Total Value Locked in…

Crypto Jobs Up 395% – Texas and Florida Lead

Crypto-related job postings skyrocketed last year, following the strong performance of crypto markets. Texas and Florida emerged as new hubs for crypto jobs.  LinkedIn has reported an astonishing 395% growth of job postings related to crypto. A survey by Linkedin showed a sharp rise in job postings with terms like "cryptocurrency", "bitcoin", and "blockchain" in 2021. Moreover, the growth in crypto jobs outpaced the broader tech industry, which saw a 98% increase in listings. Most job postings were in finance…

Kim Kardashian and Mayweather Jr. Face Pump n’ Dump Crypto Lawsuit

Kim Kardashian has allegedly tricked investors into a cryptocurrency scam involving EthereumMax. She is part of a group of celebrities, including Floyd Mayweather Jr. and Paul Pierce, accused of a “pump n’ dump” scheme. They convinced millions of their social media followers into buying the digital coin. Then, once its price inflated, they sold their holdings for a considerable, yet illicit, profit. Some of the victims filed a class-action complaint last Friday in the U.S. District Court for the Central…

Rio de Janeiro Will Allocate 1% Of Treasury To Bitcoin

Talks about Bitcoin in Brazil are commonplace, but concrete political action has now been taken to adopt it. Eduardo Paes – mayor of Brazilian city Rio de Janeiro – recently announced plans to invest 1% of the city’s treasury in Bitcoin. His city will join a list of other political jurisdictions making small allocations to the cryptocurrency, eyeing its long-term potential.  Rio Hops On Bitcoin Paes announced the city’s new plans in a presentation at Rio Innovation week in conversation…

AidiVerse Review – The Blockchain Ecosystem for Everything DeFi

AidiVerse is a blockchain-based ecosystem aiming to provide several crypto assets and utilities. The project plans to deliver everything DeFi, including an NFT platform, P2E gaming, and decentralized exchange services. Furthermore, it should soon expand to incorporate yield farming, asset performance analytics, and even physical merchandise. These features and many more should help AidiVerse rival more established blockchain ecosystems in the cryptosphere. This short review looks closer at this up-and-coming project, its tokenomics, and its roadmap. What is AidiVerse? Blockchain…

Why Do the Cryptocurrency Prices Go Down on the Weekends?

If you have been in the crypto world for a while, you will probably have noticed a typical behaviour of the market during weekends. With some exceptions, we are used to seeing the price of significant cryptocurrencies drop over the weekend. The phenomenon is known to those who operate in this market, but understanding precisely the causes seems to be rather complex. Therefore, this article will discuss a definitive answer by analyzing the various main factors involved in this market…

Visa Survey: 1 of 4 Small Businesses to Accept Crypto Payments in 2022

Who said Bitcoin is bad for payments? The 6th edition of Visa’s Global Back to Business study found that nearly a quarter of small businesses plan to accept crypto transactions in 2022 – including Bitcoin. Rapid Crypto Adoption Incoming? According to the study, 82% of small and micro businesses (SMB’s) will accept some form of digital payment option this year. Meanwhile, 73% see getting new forms of payment as essential for growing their businesses. “Of those surveyed, 24% said they…

Parler Launches Trump NFTs

Parler, a self-proclaimed free speech platform launched an NFT collection featuring former President Donald Trump. The 10,000 NFTs will feature Trump in a variety of settings, from the U.S. Congress and beyond. It will also feature other influential figures, including rapper Ye (Kanye) West and billionaire Elon Musk. The social media network popular among U.S. conservatives partnered with Jon McNaughton to produce the art. McNaughton, a conservative American artist, hand-painted hundreds of images to create the collection. According to the press…

Curtis Sword Becomes the First Blockchain-based Large-Scale 3D ARPG

Curtis Sword, a 3D NFT ARPG mobile game on the blockchain, is excited to announce that it has fully launched on both Android and iOS. The project is the first GameFi-built game designed by the original "The Rise of Dragon" mobile game team. The game is the first large-scale 3D ARPG on the blockchain. Players can now explore fun blockchain games, interactive social networks, and a wide range of products and services with complete autonomy. Curtis Sword also offers union…