What is GOeureka ?
GOeureka is a travel tech company utilising blockchain technology to
build a hotel booking platform. Our mission is to decentralise the hotel
booking sector and deliver greater transparency by allowing hotels to
directly connect with their customers. As a technology partner to
hotels, GO aims to provide a dynamic digital experience to users and
eradicate the high commission structures imposed by online travel
agents.
The growth of online travel agencies is a perfect example of how new
technology can disrupt an existing industry. These online agencies have a
huge advantage over the normal hotels since they are able to offer
consumers low prices and more options.
However, it is not all rosy for the online travel agency; the
traditional hotel sector is slowly adopting the online technology.
However, these hotels are still lagging behind. They need to work
faster. Otherwise, intermediaries that get them in touch with customers
could start making more than them. The GOeureka team thinks they may
have found something that will give the hotel an edge over agencies. To
do this, they have decided to augment the existing loyalty programs
with blockchain technology.
The aim of the GO project is to utilize the blockchain to
create a symbiotic relationship between hotels and customers. Hotels
will maintain control of their brand while customers will get more value
at the same price.
The GOeureka Vision
GO has
a plan to create an online ecosystem where businesses thrive by
offering the best services to travelers. As a technology partner for the
hotel industry, GO will offer a simple and direct app and web
experience to users without the high commissions on most sites. By
freeing up resources for hotels, GO will make it possible for them to
offer better customer value and service with their resources.
GOeureka Transparency And The Blockchain
A key feature of the blockchain is
accountability. Go will use the blockchain to make sure that
accountability and transparency are maintained in the ecosystem. Go will
replace the pay to play arrangement utilized by most travel agencies.
The platform will be unbiased and no commission will be charged on
users. On GO, hotels will no longer need to pay for visibility. All
displays and search results will be determined by the performance of a
hotel and the reviews it gets from its users.
GOeureka Hotel Booking Loyalty Programs With The Blockchain
If a hotel wishes to integrate, the GO ecosystem will offer an API where
a hotel can link their inventory with the reservation system. There
will be guides offered to the hotel’s IT department to make the
integration seamless. Go will also integrate with the property
management software of a hotel via strategic partnerships.
One issue that GO will solve is the disconnected loyalty programs.
Today, every airline, car rental service, and the hotel will have its
own loyalty program. This makes it hard for ordinary consumers to
accumulate enough points to redeem for significant rewards.
An integrated loyalty program powered by the blockchain is the future.
Go will create an interoperable program that is powered by this
technology. Users will have the option to convert the loyalty program
points of a hotel in GO credits. With this system, loyalty points earned
from a car rental service can be converted into GO credits. This can
then be used to pay for a hotel room.
PRODUCT OVERVIEW
The GO platform includes the following: 1) Website with booking and
payment functionalities 2) Mobile application for customers and hotels
to communicate directly with each other 3) A centralized database and
server to store Personal Identity Information (PII), customer booking
details, and data from hotels 4) Utilize Ethereum blockchain and smart
contract to generate decentralized GO Tokens and execute payout requests
GO will store the PII, customer booking details, and hotel data
off-chain to avoid pushing up network transaction fees and ensuring the
immediate execution of user activity. GO will look to move its entire
platform on-chain in the future, with the introduction of new blockchain
technology (i.e., Raiden) that allows instant execution at minimal to
no cost.
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
beused 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
TOKEN DISTRIBUTION
- Tokens Generated
2. Distribut
for more token information follow link bellow:
