Tripio is the first travel marketplace based on blockchain. It leverages the decentralized network provided by blockchain technologies to directly connect global customers and service providers. Moreover, it builds a service ecosystem based on transparent, tamper-resistant trust and incentives. Tripio’s technologies reduce transactional and operational costs in travel industries, as well as improve customer experience in their respective products and services.
The Tripio platform can be utilized by a service provider to publish her unique service terms and conditions using smart contracts. From the moment a customer initiates a purchase to the end of their trip, every step along the way can be enforced and monitored by smart contracts. Should disputes arise, Tripio provides dispute resolution by means of community self- government mechanisms.
Tripio comprises of its dApps and a set of Tripio Protocols that forms the basis of the new ecosystem. Customer may use legal fiat currency or digital currency to purchase service in the marketplace. Tripio’s transaction system will perform transactional processing based on the needs of both customers and service providers.
Upon completion of a transaction, participating parties may rate each other, optionally with supporting reviews. Rating and review information is stored on the blockchain.
When disputes arise during service, such as damaged furniture or broken WiFi service, an automated process kicks in to form an arbitration committee in order to settle the dispute.
The Tripio dApp and the Tripio Protocols are powered by the ERC-20 utility token called the TRIO token. Customers may use Tripio dApps directly and any third-party may build its own dApp by leveraging the open Ethereum protocols. The TRIO tokens also play a part when disputes between participants arise. Disputes are settled by arbiters, whose voting power is determined by her reputation and number of TRIOs held (reflecting her shared interest in the healthiness of the Tripio ecosystem)
The biggest problem of Tripio is that it’s based out of China. Chinese financial administration has a long history of constantly changing its stance regarding ICOs and cryptocurrency in general, so there’s always an air of uncertainty with project based out of the country. Another flaw which the team may have overlooked is the fact that there’s a possibility to bribe arbiters, which can then use their voting power to maliciously skew the vote in the favor of the briber.
Tripio seems to be a working project. They have properties and hotels for rent listed on their website and users can put their properties up for rent. While blockchain implementation in this sector can be good, there isn’t an overall strong proposition for it, as booking online through one of its competitors like ExPedia is already as easy and hassle-free as it gets.
