Tourcom Blockchain Interview
Tourcom Blockchain management team interviewed with Block Media early November to discuss issues relating to its independent-travel platform.
Below is the translated version of the interview. Korean version can be found
Tourcom has been in the travel industry for over 12 years. It has reduced the burden of travel expenses through the unprecedented concept of “postpaid travel”: travelers travel first and pay later in installments. Questions revolved around why Tourcom, which has a steady customer base, jumped into the blockchain industry. Senior management team was present: Ahn Yoon-ki, CSO; Kim Jin-soo, CTO; Cho Young Doo, CEO).
Please describe Tourcom’s post-payment method.
Traveler pays half of the expenses pre-travel and pay the rest post-travel.
What happens if traveler don’t pay up afterward?
There were such cases in the beginning, but travel planning is usually done face-to-face, so most people tend to pay up. Also, after a pleasant travel experience, travelers are more likely to pay; and if they are dissatisfied, they are protected by the Travel Quality Quarantee System that nullifies their obligation to pay.
How did you get into the blockchain industry?
Currently, travel industry is focused on package tours, and Tourcom introduced blockchain to cover the growing trend of free/independent travel as using blockchain platform and cryptocurrency has numerous advantages.
There are about 130,000 people who have traveled using Tourcom’s post-payment program and have no doubt they will register as our blockchain platform and DApp become available.
Is the service involving blockchain different from that of the program offered by Tourcom?
Yes. The service using blockchain is basically for free/independent travel. It is separate from existing packaged tours offered by Tourcom.
Blockchain platform is mostly geared toward individual solo trips, but individual travelers can form a group and lower their expenses. Individual travelers can offer their travel plan to other travelers, form a group, and request various travel agencies to propose a package at which point the group selects the best option.
When travel agencies put together tour packages, they are in control, but with decentralized nature of blockhain, travelers are in control.
Immense data is being collected based on past travel experience: travel location, accommodation, price, personal experience, restaurants, activities, and of course, traveler reviews etc. Such data will be recorded in blockchain, which will inevitably upgrade the quality of the system.
Please describe revenue distribution through staking.
This system entails a token holder selecting capable guides or travel agencies to sponsor by helping them with a minimum number of TCOs to stake before services can be rendered. Such sponsors will receive a portion of the revenue. This staking system is designed to increase user participation in the platform and to support guides and travel agencies raise a “deposit”to obtain their authority to provide services within the platform. As a result of implementing such system, circulation of the tokens is expected to increase as well.
What are the benefits for travelers participating in the platform?
In addition to the staking opportunity, platform users will also be rewarded with TCO tokens for participating in activities such as writing reviews, posting and recommended schedules. Compensation will also be given for individuals who recruit others to form packages although we have not yet decided specifically on the number of tokens to be awarded; for certain, however, compensation will increase as the platform grows.
Please explain the stability of TCO.
Price volatility is the reason why companies do not want to receive payment through tokens. To address the stability issue, our system allows merchants to convert tokens into cash immediately after receiving it as a form of payment. As soon as a merchant receives tokens, he/she can choose whether to receive it as tokens or cash.
I heard you’re working with Luniverse.
We have a partnership with Luniverse. Currently, TCO tokens are issued based on Etheriuml
What is the DApp launch schedule?
DApp is expected to be officially released early next year.
What do you wish for in the coming year?
There were many new attempts this year without much results. From next year, we hope it will be a year to verify how the platform can be applied in real life as services will be available next year. Also, we hope to see other successful blockchain companies emerge.
What is your goal as a blockchain company?
We wish to be an exemplary company. Public ICO is not the main purpose, so we chose against that. Travel guides and companions are just ways to enrich people’s travel experience. Likewise, payment system is not our focus. Our real value lies in helping travelers share their travel experience to make travel planning more convenient and enjoyable. We wish to be recognized as a company that enriches people’s lives by helping them do away with the stress of vacation planning.
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ABOUT the company:
Tourcom is a well-grounded company established in 2007 with an unprecedented concept of Travel-now-pay-later that records 20 million dollars in yearly sales. In early 2019, Tourcom Blockchain was established to expand its existing services by leveraging blockchain technology. Utilizing company’s wealth of experience, global network, and vast amount of database, the company is creating an innovative blockchain and AI-based travel platform for independent travelers to enrich their travel experience by helping them easily find compatible travel companions, local guides, and customized schedules that reflect travelers’ interests. With over 1400+ affiliated sales people and 130,000 existing members, Tourcom blockchain ecosystem is expected to take off with ease. Its global DApp is expected to be launched in early part of 2020.
Following partnerships with the Senior Financial Education Council and Ziktalk and after joining the Luniverse platform, TCO (Tourcom tokens) was listed on the BW Exchange. Later this year, the beta version of Tourcom Blockchain global dApp is expected to be launched and the official dApp expected at the beginning of next year 2020.
To learn more about Tourcom Blockchain:
▶ Tourcom home page: http://tourcom.io
▶ Telegram: https://t.me/tourcomio
▶ Facebook: https://www.facebook.com/TCBChain/
▶ Instagram: https://www.instagram.com/bchaintc/
▶ Twitter: https://twitter.com/TourcomI
▶ Medium: https://email@example.com
▶ Blog in Korean: https://blog.naver.com/tourcom_io123
▶ Youtube: https://www.youtube.com/channel/UCVYW0LWo9FYw62C7iQwKHew