GOeureka is a travel technology company that uses blockchain technology to build a hotel reservation
The hospitality industry is the second largest provider in the global travel industry and is currently dominated by online travel agencies. OTAs generate around 70% of hotel reservations online and this has impacted hotel direct bookings, profit margins and loyalty programs.
GOeureka wants to change the scenario by first putting hotels and clients. Using blockchain technology, GO Hotels and its customers will benefit from the introduction of no-fee reservations, the acceptance of payments through cryptocurrencies without commission from the concessionaire and the transformation of traditional brand loyalty programs.
“GOeureka leads to a renewal function that waits for patents for customers to get the maximum room rate. If tariffs are reduced, the re-booking function automatically detects existing orders at a lower level and gives them new ones,” Rai added
GOeureka also offered an interoperable loyalty program that will benefit hotels and customers by promoting their own hotel loyalty program with the ability to change hotel loyalty points for a loan that can be used on the GOeureka platform.
“For consumers who have subscribed to several loyalty programs, a GOeureka corporate loyalty program solution can facilitate instant exchanges and exchanges for several loyalty points on one platform,” said Rai. “Blockchain acts as an eternal and secure catalog of all transactions related to issuing GO credits, creating a transparent supply of loyalty points that can be checked without the need for intermediaries.”
On September 10, GOeureka launches the first Alpha version of its hotel booking platform.
“We will carry out test work directly on the platform over the next few weeks, and the MVP platform order function will be ready on September 10,” said Rai.
THE PROBLEMS THAT WE SOLVE
1) ABSENCE OF TRANSPARENCY LEADING TO INCREASING PRICES
Unfair OTAs fees ultimately reduce hotel margins and increase consumer prices
- FORGOTTEN HOTEL LOYALTY PROGRAMS
Consumers skip scoring and subsequently free hotel awards
3) SEARCH SHIFT
Produced bias through altered and reordered search results on OTA ultimately cost consumers choice and cost
Why choose Goeureka?
Automatic reservation change function
Interoperable loyalty points
Payment method Fiat and cryptocurrency
Lighting worldwide at launch
GOeureka GO Token ICO Details
A total of 1 billion GO Tokens will be issued where 1 GO token = US$0.10. There will be a diminishing bonus distribution of GO Tokens upon meeting the maximum cap or preset time, whichever comes first. While 30% will be kept in a reserve pool for operating initiatives, funding marketing strategies, and other activities relevant to the growth of the business. During the private pre-sale, contributions will be accepted in US Dollars (USD), Singapore Dollars (SGD) or Ether (ETH). All contributions will be converted to ETH, live, at the prevailing rate. The Token Sale will last approximately three weeks.
GO will host a first-round private presale one month prior to the Token Sale with accredited investors, with a minimum contribution of US$50,000 each. Interested parties are welcome to whitelist with GO to join this round of fundraising. Contributors of funds raised during this period are entitled to bonus distributions of 30%. The maximum cap during this round is 150,000,000 GO Tokens and will close two weeks before the Token Sale. If the maximum cap is not reached during the private pre-sale, it will be opened to the public, with a minimum contribution requirement of US$1000 (equivalent ETH value). There will be a 15% bonus distribution during this round. The pre-sale will be closed early if the maximum cap is reached or will end on the day before the Token Sale.
The Token Sale will end early once the total maximum cap is met or after Week 3 of the Token Sale. All unsold tokens will be burned.
GO founders and team tokens will be locked and can be withdrawn quarterly over a 24 month period, while advisors will receive their tokens after six months post ICO. Tokens from the Reserve Pool will be used to accelerate the adoption of GO’s platform. To efficiently market the platform at a much quicker rate, GO is aiming to raise US$60 million in funding, following the first round of successful seed funding.
GO has spent the past 12 months working on a beta version of its platform, consulting blockchain technology experts on the token model in preparation for its initial coin offering. To effectively match the existing OTAs, US$60 million is required to scale the platform and substantially grow our gross bookings over the next 3 years.
Figures from Expedia demonstrate the segment’s high potential for rapid revenue growth. For example, Expedia made gross bookings of more than US$70 billion in 2016 against its operational costs (i.e., marketing, salary) at close to US$7 billion.10
- Tokens Generated
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