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LAST UPDATED: 2018-2-4


The travel
is here Abstract........................................................................................................................................1
A word from the authors ....................................................................................................1
The Problem .............................................................................................................................3
The Solution..............................................................................................................................4
Value proposition................................................................................................................13
Token sale...............................................................................................................................13
Development Plans...........................................................................................................15
The Team ...............................................................................................................................17
Early adopters and advisors ........................................................................................18
Our backers ..........................................................................................................................19
Legal notice..........................................................................................................................20
Travelkoin Foundation A community collaboration between online travel
suppliers who commit time and funds to creat-
ing and maintaining the code base. Traveliko, a
Singapore based online travel agency and ICS
Travel Group, a San Francisco based destination
management company are the originators of this
Travelkoin Platform General term for the software that runs all primary
and ancillary services.
TKT Travelkoin reward token

STU Standard Travel Unit settlement token

OTA Online Travel Agency

DMC Destination Management Company


The blockchain is still in its infancy, but already holds great potential. Ground-breaking technology is a
product of its time and this is especially true for the blockchain and cryptocurrencies. People do not
want to be controlled by their governments and banks.

The blockchain cannot solve all our problems, but that isn’t necessary. Cryptocurrencies and the
blockchain are in the hype cycle1, and tech community is abuzz with the possibilities of this new

technology. White papers are published every week expounding the virtues of the blockchain and how
the authors intend to revolutionize existing industries in record-breaking time.

The authors of this whitepaper work for travel technology companies. We know the industry’s pain
points and we know that real change does not happen overnight. As technologists, we want to leverage
the blockchain and cryptocurrencies to improve our industry. We want to use both technologies for what
they excel at: payments and rewards.

This is NOT a paper where we promise you rocket ships to Mars on the blockchain... but we are sure you
can buy into that ICO on some other site.

Enjoy the read!

1 Hype cycle

1 2
THE PROBLEM Another problem the industry faces is customer retention. Customers are unhappy with loyalty
programs. The programs are unclear, hold little value and expire long before they add actual benefits to
the regular traveler. Travel suppliers benefit tremendously from loyalty programs but customers aren’t
PAYMENT reaping any rewards.

The travel industry is one of the most fragmented industries in the global market space. Unless it is
domestic travel, it almost always requires complex and expensive cross-border financial transactions EXPI RE D
involving various counterparties. Multiple levels of transaction fees and middlemen cut significantly into
all travel suppliers’ bottom line. MARKETING AGENCY

All the largest travel suppliers in the world use a select few payment providers. They are very PROGRAM
expensive and entrenched in the industry. Companies just use them because “they are there”. They
charge annual fees ($150K / year) and transaction fees. Suppliers easily see 2 – 10% of the bottom line
go to transaction fees. 30 years ago, these companies were the best solution. This is no longer the case. STAFF
Figure 2. Expensive loyalty programs with low customer satisfaction rates

Our industry transacts to the tune of 7.8 trillion dollars per year and growing. Airlines, hotels and other
suppliers pay up to 780 billion dollars in fees. Airlines have to hold the risk of future bookings up to
45 days. Hotels working with OTAs have a similar problem. Because transactions are expensive, OTAs
and other suppliers try to keep costs low and extend payment terms. One supplier might make another
supplier wait 90 days before receiving payment. This is particularly hard for smaller suppliers without
For every problem there exists opportunity. The Travelkoin Platform consists of two parts. The first part is
much liquidity.
a payment platform on the blockchain that allow travel suppliers to pay each other at no cost. The second
part is a loyalty platform that incentivizes travelers and suppliers to book, pay and add value to the eco-
Payment is a B2B issue and it’s industry-wide. Talking to any travel supplier about this problem will give
you another use case and another reason for why the current system needs a fix.

One feature completes the other and, as we add new services to the platform, loyalty is
what brings them all together. Platform loyalty is created and we can see the beginning of a less
fragmented industry. Travelers are happy because they now have a membership rewards program with
ISUING BANK 3RD PARTY PAYMENT SERVICE CREDIT CARD real value and suppliers are incentivized to give them great deals. Travel suppliers are happy
because they have a superior platform to conduct business on at no cost. A “closed loop” eco-system
BANK has been created!

1 2 3


6 5 4


Figure 3. A new eco-system with blockchain payment and rewards at the core

Figure 1. Payment process with fragmentation and many middle men
The Travelkoin Platform is a set of APIs, SDKs along with user friendly web sites and mobile apps that
allow travel suppliers to create accounts, manage their customers and smart contracts, create incentive
schemes and make payments. As the platform matures, many more exciting new services will be offered
to airlines, hoteliers and travel suppliers alike; all powered by the Travelkoin (TKT) token.

3 4
Payment gateways have been available on the Internet since the mid-1990s. A payment gateway Blockchains are fully transparent, digital, distributed accounting ledgers that make the middleman obsolete.
functions as a trusted clearinghouse for parties wishing to transact in fiat currencies. They make sure Being able to add logic and rules through smart contracts make blockchains a killer technology that will
the payment method is valid and has enough funds to cover the amount and they facilitate in moving improve any business with complex workflows.
those funds between buyer and seller for a fee.
Blockchain is often discussed in the context of the financial services industry, such as banks. This is
As industries mature, specific needs become apparent and one size does not fit all. As a result, new because banks are a widely used intermediary service, with identifiable problems, that have the potential
payment gateways are created that cater to niche markets, such as travel. The travel industry is a mature to be solved through peer-to-peer value exchange. But blockchain is definitely not exclusive to the financial
industry and traveling “electronically” has been available since the day you were able to pay for a hotel sector. Everyone has to make payments and with the advent of the blockchain, all industries will see the
room or a flight with your credit card. As both global travel and online travel products have exploded value and cost-savings of leveraging this technology and improve how they transact by codifying their
in the last 10 years, and are expected to continue to do so for the next 15 years2, there has been very workflows into smart contracts. A static middleman is no longer necessary.
little improvement to the existing payment model that helped start it all. While it has all spun into an
increasingly complex web of travel products, made available to you by many different suppliers and Blockchain has also exciting applications that are promising for the travel industry that would not have
aggregators: payment has stayed a constant. been possible otherwise without the idea of a decentralized network. The journey starts with payments and
ends with a fully featured travel platform that runs all the services the travel industry needs to run their daily
“It’s that leaky toilet you don’t want to fix because it works and the repair man is expensive and you don’t operations.
want to do it yourself because it’s complicated and it works.”
The blockchain represents a fantastic technology to solve problems in the following areas:
The travel industry doesn’t move fast and has never been on the forefront of adopting cutting edge
technologies. We’ve been using the same worn shoes and underwear for the last 30 years but that’s • Payment and settlement
about to change. • Loyalty
• Identity and reputation
Sometimes a technology comes around that revolutionizes the entire industry. As in every industry, the • Fraud management
agenda has always been “cheaper, faster, better!” With the advent of the blockchain, the possibility of all
the above just became a reality for us.
The Travelkoin Payment Gateway takes the complexity and the expense out of the travel industry’s daily The Travelkoin Platform is built on top of the Google Cloud Platform to scale to the needs of its users
transactions. It allows for complex payments to be made with ease and at no cost. and can handle an infinite amount of transactions per second. The remittance part is asynchronous and
delegated to a public, de-centralized, blockchain. This means that every travel supplier contributing to a
Next, we will discuss how the Travelkoin Platform will leverage a distributed blockchain and other specific transaction could get paid within minutes of the transaction occurring with no additional action
blockchain platform-based functionalities. required from any other party. This saves a lot of time and money in the accounting department and
probably frees up some desks too.

Smart contracts are where our knowledge of the travel domain comes into play. If you have worked in a
specific industry long enough, you know the processes that are needed to make everything run smoothly.
When you know how a certain process works, you can start to automate and improve upon that process.

With smart contracts, you put what you know about the rules, the steps and the workflow itself into a digital
immutable envelope and push it to the blockchain for verification and, ultimately, execution. As you get to
know the industry better, you can update the smart contract version to reflect more complex requirements
or iterative improvements.

For the travel industry, it means consolidating who-gets-paid-when throughout the course of a booking and
to let the smart contract be responsible for dispersing the funds. Payments can be immediate, time- based,
location-based, manual, etc. In the case of cancellations, the funds can go back to the traveler as a refund.
The contract can also stipulate incentives such as early payment or processing large orders. Risk and
liquidity issues are mitigated by using smart contracts on the blockchain.

Figure 4. A payment platform with a stable settlement currency; powered by a reward token

2 Future Traveller Tribes 2030

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• Hotel management contracts between the hotel management company and the hotel owner. In a fragmented industry, travel suppliers save a lot of money by transacting freely with one
• IT distribution contracts between the hotel and its IT Distribution service providers. OTA, GDS, another on the Travelkoin Platform.
Channel Manager, Internet Booking Engine, Central Reservation. Can be production / performance
based or fixed monthly installments.
• Booking contracts between affiliates and the hotel or booking site.
• Loyalty payout contracts that control the “rules of the game”.
• Large, expensive, ubiquitous payment systems, such as IATA airlines and hotels use to make payments.







Figure 5. Simplified view of how payments are done now versus how smart contracts will handle payments
The Travelkoin Platform completes itself with a rewards system. It’s there to incentivize the community.
Any action on the platform can be incentivized and thereby gamified. It will lead to better relationships
between B2C and B2B and more value to each party involved.
All our applications run over SSL (Secure Sockets Layer) and sensitive information is encrypted using the
latest AES-256 encryption algorithms with hardened key management services. Sensitive information is All the services to users are free as long as they earned some Travelkoin (TKT) tokens that power the
also encrypted when it goes on the blockchain. platform. If they run out of tokens, they will have to buy more from us in order to keep on using the
services on the platform. The ONLY way a travel supplier can get Travelkoin “for free” is to incentivize
their B2B and B2C customers to pay them, fully or partially, in Travelkoin. Travelkoins are created when
STANDARD TRAVEL UNIT (STU) a “travel related” action occurs and value is added to the platform. This can be a booking or someone
Stability is the most important feature of global economies to be successful. Without stability, individuals writing a review etc. Most of the value-add comes from travelers. In this case, suppliers do not want
across the world could not have foreseeable costs while engaging in commerce and savings allowing loyalty points (aka TKT) to expire. They want to incentivize the traveler to use them instead. Both win.
them to make reasonable decisions. Keeping predictability and fungibility in mind, STU was designed to
bring stability and better business planning to the world of cryptocurrency, to the world of travel and to Benefits and bonuses are vital to travel. Every airline, hotel, train, car rental company, etc. has a
all individuals who use the Travelkoin network. membership rewards program. However, how valuable they are for regular travelers is dubious. This is
what we aim to change with the support of the travel industry. With a “customer first” model, we want to
STUs are created by a mechanism similar to convertible notes, which are often used to fund startups. In offer REAL incentive to travelers and travel suppliers. Instead of being a member of every airline and hotel
the startup scene, convertible notes are short-term debt instruments that can be converted to ownership you ever visited [once], and of which you have only a few un-spendable points, the Travelkoin Loyalty
at a rate determined in the future, typically during future funding rounds. A blockchain-based token, like Platform offers real incentives and makes it fun and valuable for each party involved.
Travelkoin, can be considered as ownership in the community whereas a convertible note, like STU, can
be viewed as a debt denominated in any other commodity or currency. The terms of the convertible note LOYALTY PLATFORM AS A SERVICE
allow the holder to convert to the backing value with a minimum notice at the fair market price. Loyalty reward software programs are nothing new34. The difference between regular loyalty programs
and the Travelkoin Loyalty Platform is that customers are actually loyal to a platform and not any specific
Creating a token-convertible-currency enables Travelkoin to grow its network effect while maximizing the brand. The platform holds your Travelkoin tokens and can easily be converted into fiat currency. The
return for token holders. Standard Travel Units are referred to with the symbol STU. As STU is comprised of tokens also never expire like regular points.
a basket of important fiat currencies used in global travel and tourism it does not only provide stability in
the volatile market of cryptocurrencies, it STU provides stability, predictability and hedging functionality Most travel suppliers want to market their own brand with their rewards. This is great for us. We let our
in the travel industry where foreign exchange transactions, and their inherent risks, are daily business-as- customers do their own marketing and we white label our Travelkoin token to facilitate that. Because they
usual reality. Creating the STU requires a combination of a reliable price feed and rules to prevent abuse. are all using Travelkoin tokens under the hood, customers can easily compare and find the right deal for

3 The definitive guide to creating a successful loyalty program
7 4 Blockchain will transform customer loyalty programs 8
them. Now that the fear of owning worthless points with an expiration date is gone, customers need There are a myriad of ways to reward members for transacting in the eco-system. Our loyalty platform
better reasons to choose an airline or hotel. Travel suppliers want you and your Travelkoins and their goal supports inventing new ways to reward each participant in whatever way the members deem best for the
will be to offer real value. community and their bottom line.

The Travelkoin token is our reward token. The Travelkoin derives its value from the fact that people will
always travel and that rewarding people for traveling is ever-present in the industry. Travelkoin is the
HOTEL equivalent of people gaining experience while traveling and “leveling up” with every trip. Our reward
token gamifies the travel experience. A good analogy to Travelkoin is Ethereum’s ‘Gas’; it’s what runs the

Travelkoin is democratizing the loyalty programs that the travel industry giants have had for decades. By
using one standardized loyalty point, Travelkoin makes loyalty programs available to any supplier of hotels,
vacation rentals, experience-creators, airfare companies, etc.

Travelers will first encounter this token after they have made some form of booking. As travelers learn
RESTAURANTS TRAVEL AGENT more about it, they will start to seek out those travel suppliers who also offer the tokens, so they can “level
up” and maximize their earning potential.
Figure 6. A white labeled loyalty token for the travel industry
Suppliers integrate with the Travelkoin Platform to offload their new or existing membership rewards

Currently, customers rarely reap the rewards of loyalty programs, as is intended. More often than not, it Travelkoin is the token that will be available for investors during the ICO and listed on an exchange. There
becomes a game of staying active, just for the sake of having that badge of honor, or risk losing all the is a natural scarcity with Travelkoin as they are only generated when travel actions occur in the eco-
points due to inactivity. Customer satisfaction levels are understandably low5. system. Like a frequent flyer mile, there is no limit to Travelkoin. One could draw some assumptions by
looking at annual bookings by airlines, hotels, cars and rail and invest bullish or bearish based on where
Travelkoin is your reward token for all kinds of travel-related activities. Just as every post and picture on the investor thinks the market will go. More importantly, it is the demand for Travelkoin by travel suppliers
Facebook increases the value of Facebook as a platform, so does every activity linked to Travelkoin who want to pay the platform in order to continue using its services that creates value. When a new killer
increase the value of the Travelkoin eco-system. The difference is that Travelkoin kicks back this increase app is launched on the platform, one can speculate that the value of Travelkoin will increase in demand
in value by distributing Travelkoin tokens to those who engage with the platform. These tokens represent and therefore in value.
the value of the Travelkoin community as a whole.

• Book a flight, hotel, rail or car through an agent who is on the Travelkoin Platform The Travelkoin Loyalty Platform comes with its own website where travel suppliers can compete for the
• Buy our pegged currency STU and you are rewarded with Travelkoin attention of customers by creating their loyalty schemes. These rewards will be advertised by companies
• Refer friends and relatives to the platform that integrate with Travelkoin and customers will know what extra incentives they receive by each travel
• Write a review for a hotel or airline that is a member of the Travelkoin platform supplier before they book.
• Book a second time with the same hotel and earn even more Travelkoin for your loyalty

INCENTIVIZING SUPPLIERS 1. is a online travel agency and a member of the Travelkoin Platform. Louie is a traveler
looking to book a hotel on He sees two hotels, across the street from one another,
SUPPLIER EXAMPLES that both look appealing. Both hotels are 5 stars. Both hotels charge 400SGD per night. Both hotels
have Wi-Fi and all the other amenities their guests expect. The only difference is that one of the
• Receive Travelkoin from a traveler to redeem for services hotels incentivizes the customer to book with them by giving them 5 Travelkoins while the other
• Receive Travelkoin for exchanging local currency to STU offers none. The choice is simple. The loyalty token has been effectively standardize across the
• Receive Travelkoin as interest for holding STU in your wallet travel industry and the traveler doesn’t have to guess which proprietary rewards program is better.
• Spend Travelkoin to incentivize travelers to use your services
• Spend Travelkoin to incentivize other agents/suppliers/companies to use your services
• Spend Travelkoin to redeem for services from sub-suppliers
• spend Travelkoin to settle fees for exchanging STU into local currency

5 New loyalty program rankings reveal a growing points divide for travel brands

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2. When Louie comes back to make another booking; either through or directly with
hotel that is part of the platform, he is incentivized to pay partially using the Travelkoin he
received from his first stay. The hotel knows it is cheaper to convince travelers to give them
Travelkoin than it is to buy them outright from us.

Figure 7. A traveler can use her TKT to pay for another booking with all suppliers on the network

HOTEL Athe above mentioned hotel for the commission it is due from the booking
1. invoices
made in example 1.
2. incentivizes the hotel to pay on time by offering the hotel 1 Travelkoin.
3. Or, tells the hotel that it too can pay the outstanding amount partially in Travelkoin.
Be part
of the
Figure 8. Travelkoin token powers the Travelkoin Platform just like Ethereum’s “Gas”

Everyone transacting within this eco-system needs the TKT token to fuel the platform. What better way
to get hold of some than incentivizing your customers to hand over theirs. By using the token, the token
automatically creates value; for travelers, suppliers and investors.
We use game theory to create happy customers. By adding gamification to every layer, more value is
created for everyone involved.

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The innovation of the Travelkoin Platform is that it combines the ability to transact on the blockchain
using a stable settlement currency (STU) with the effectiveness of an industry-proven loyalty reward OVERALL CAMPAIGN
program that has the potential returns of a publicly traded commodity. This is what makes it a unique Ticket symbol TKT
investment vehicle. Travelkoin is a true loyalty point, just like any other point system conceived by Token origin Ethereum
Lufthansa and other travel industry giants and, at the same time, it can be traded on an exchange as a

Using the Travelkoin token (TKT) as the base currency, suppliers can also create their own point system MAIN SALE
with their own set of rules and rewards. When customers compare which points are more valuable, they
Starts April 9th, 2018
can easily do so by looking at the value of Travelkoin. Travelers alike will appreciate this transparency.
Ends April 14th, 2018
The value to an investor is not the Travelkoin token or the Standard Travel Unit token but the Travelkoin Tokens sold 31,000,000
Platform and the value the platform holds to travel suppliers and their customers. Travelkoin, by offering Minimum contribution 0.1 ETH
a reward infrastructure that is currently reserved for large suppliers, with the added benefit of transaction- Soft cap 5,555 ETH
free payments within the eco-system and doubling as “fuel to make the engine run”, will only increase
Hard cap 55,555 ETH
in value to investors over time. The more ubiquitous the Travelkoin token is, the more valuable it is as a
commodity. The more services offered on the platform, the more valuable it is to suppliers and the more it Price 1,000.00 TKT for 1 ETH
gets used. The platform is the “killer app” for investors and the services its life blood.

Imagine what would have happened if Star Alliance had put their reward program points on the New
York Stock Exchange 10 years ago and traded them as a commodity. Add the airline brands and their
fleets of airplanes, that make Star Alliance points valuable, and you have the platform.

The token generation event presents a unique opportunity to purchase Travelkoin as an investment
vehicle. Once the event is complete, Travelkoin can only be earned by booking trips or performing TRAVELKOIN TOKEN SALE ROUND 1
similar actions in the travel eco-system.
35 000 000
The long-term goal is worldwide adoption with the travel eco-system. We start by making our APIs and 3 000 000
SDKs available in the most used languages and begin integration with our first backers in hotel, air and early contributors
online travel immediately after the ICO.
6 000 000 31 000 000
TOKEN SALE founders Normal sale | APR 9, 2018

The token sale will last for 5 days only. During the first 24 hours, investors can only send us 1 ETH. Once 12 000 000
the 24 hour limit has expired, investors are free to invest how they see fit. There will be no pre-sale for this team and advisor
3 500 000
token. Once the ICO startsIf the minimum funding requirement for the pre-sale is not met, investors will be
refunded their original investment. If the soft-cap is reached, the sale automatically ends after 5 days. If
the hard-cap is reached, the sale ends immediately.
#1 reserved for HODLER
and referral reward

500 000
Our token sale is managed by a custom made Ethereum smart contract. Developers can contact us for reserved for bounties
access and verification.
17 000 000
community fund

12 000 000
Future founding rounds

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We have set aside 500,000 TKT tokens to award those who help build the Travelkoin community in its The Travelkoin Platform will be built by the tech teams of the online travel companies Traveliko and ICS
early days. Every whitelist applicant will get a personalized referral link, and they will get 5% bonus after Travel Group with the help of our integration partners and backers. The external teams are compensated
every contribution using that link, plus each contributor will also get an additional 1% bonus for using a partially in Travelkoin to further incentivize milestone dates.
referral link.
Because there is more than one company behind the Travelkoin Platform, we manage distributed
Example: If your friend signs up for whitelist using your referral link and buys 10,000 TKT tokens during
Agile teams that focus on writing micro-services or serverless functions in popular languages like Java,
pre-sale, you will get an additional 5% * 10,000 = 500 TKT tokens. Your friend will get 1% * 10,000 = 100
Python and .Net, hosted on popular platfoms like Google Cloud Platform and Amazon Cloud, that can be
bonus tokens. Remaining referral reward TKT tokens will go to the HODLER reward fund 9 month lot.
managed by the teams themselves and not a centralized devops team. All teams will be responsible for

HODLer REWARD implementing accompanying blockchain solutions on the platform we end up deploying on.

To keep prices stable, we use vesting for founders, the team and our advisors and we reward those who ROADMAP
HODL. By not touching the tokens in your wallet for 3, 6 and 9 months after the normal sale has ended,
you will enjoy being part of the 3 million TKT token HODLer reward program. 300,000 tokens are available 2017 Q4
after month 3. 600,000 tokens after month 6 and 2,1 million after month 9. The longer you HODL - the
more TKT you earn. • Initial implementation of loyalty platform is completed.
• Traveliko reward travelers with Travelkoin when making bookings. This works now.

2018 Q2
• Pre-sale and normal token sale events have completed.
• Tech team is tasked with scoping out deliverables and milestones.
Developement and integration with travel
2018 Q4
suppliers • Develop secure REST-based APIs and SDKs for Java, .Net, Golang and Python.
• First release of payment gateway made available to early adopters.
Developement of Blockchain Ecosystem 2019 Q2
• Reference implementation v1.0 of the Travelkoin Platform made available.
• Integration work with our major partners begins.
Targeted marketing of Travelkoin and
Ecosystem B2C

Targeted marketing of Travelkoin and
Ecosystem B2B

Because we are a community of existing online travel companies, we don’t need money for office space
and other basic needs that fledgling startup companies have. Instead, we can focus all our resources
on developing a solid core product, writing great documentation, great APIs and integrating with early
adopters within the airline and hotel industry. The core of this work will be integrating travel suppliers
onto the network. Integration efforts are key to popular adoption and we foresee doing a lot of the early
and large integrations ourselves. We feel we are lucky that this is a B2B effort. It makes marketing more
focused and less expensive. Within our group, are 1 degree of separation away from anyone in our
industry that we want to integrate with. And, that is really what the success of any project comes down
to... how good is your network.

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The authors of this white paper all work in the technology companies listed below and are all too familiar
with the daily pain points of running an online travel company. Together, they have created the Travelkoin
Foundation and have committed their developers and the community to work on Travelkoin. The
members listed here represent the team lead for each company.

Traveliko is an online travel agency based in Singapore. Founded in 2013, they are
lowering the commissions hotels pay to OTAs [by at least 40%] and making sure
the customer gets a better experience as a result. They do all this while donating
20% of their net revenue to charities their customers visit and encourage hotels to
lower their eco-footprint in a gamified way.

BJORN Bjorn Harvold is Traveliko’s CTO and their in-house serial entrepreneur. He loves
HARVOLD researching new technologies and has been an enterprise developer for 19
years. The last 4 of those, he has spent in the travel industry. He researched the
blockchain and its potential for the financial industry since 2012. Starting his

Meet the
career on Wall Street, Bjorn will say “Travelkoin is the best of travel and finance!”.

The premier Destination Management Company in Asia specializing in authentic,

tailor-made tours and experiences in Vietnam, Cambodia, Myanmar, Laos,
Thailand, India and Indonesia.

Martin Struschka is ICS’s co-founder and technology expert. Having been in the
travel industry for over 20 years, Martin has seen travel technology evolve from
STRUSCHKA humble Excel sheets to mighty distributed database systems with API interfaces
and real-time transactions. And yet travelers still move from A to B in pretty much
the same fashion as 20 years ago.

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Unicorn Hotels & Resorts is a bespoke hospitality consultancy with an emphasis on ZAZZ is a new concept hotel brand enhanced by technology to offer the last word
disruption, new thinking and finding smarter ways of creating hotel and restaurant in urban style, set amid soothing surroundings for travelers with a real sense of
concepts in South East Asia, Middle East, Caribbean and Europe. independence. Their focus is on bleisure travel, which is a blend of business and
leisure with convenience, comfort and connectivity always front and center, in
Yann Gouriou is the CEO of Unicorn Hotels and Resorts. Their expertise lies in locations that put guests quietly in the heart of the action.
creating new hotels or re-designing existing ones and making them a smash
YANN success. A big part of the success story, once a hotel is open for business, is Xavier Masson is the cluster general manager for Zazz Hotels & Resorts, which
GOURIOU attracting customers and booking room nights. Hotels need to have an online has hotels in Thailand, Maldives, Vietnam and Cambodia. Xavier came across the
presence but they also need to manage their inventory on other sites such as online Travelkoin Platform while working on finding the most innovative technologies to
travel agencies. Rewarding customers for booking on the hotel web site directly and integrate with for his hotels to give them a competitive edge and save them money.
paying travel suppliers, while keeping costs under control, are two crucial parts to
the success of any hotel.
My interests are in the tourism and FinTech; both as an investor and personally.
MAP2 | Ventures has a portfolio of travel related start-ups under its belt and several
Seva has a long standing interest in crypto currencies and technology. He mined his of them could benefit from integrating with the Travelkoin Platform. I am very
first BTC in 2011 and has been fascinated with token economics ever since. Seva excited about the opportunity to get in early on such a venture to help solve industry
will be responsible for developing our own token economics for the Travelkoin while problems and work together with the Travelkoin team and our other start-ups.
seeing how already well-established companies like Steem are doing it. DR. MARIO Solving payment and loyalty is a strategic first step in this endeavor.


Sam has received multiple awards for his work at Taboola. He is a specialist in
content and performance marketing and we will use his talents to market the
Travelkoin Platform across all regions.


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Travelkoin does not make or purport to make, and hereby disclaims, any representation, warranty or
Please read this section and the following sections entitled “disclaimer of liability”, “no representations
undertaking in any form whatsoever to any entity or person, including any representation, warranty or
and warranties”, “representations and warranties by you”, “cautionary note on forward-looking
undertaking in relation to the truth, accuracy and completeness of any of the information set out in this
statements”, “market and industry information and no consent of other persons”, “no advice”, “no
further information or update”, “restrictions on distribution and dissemination”, “no offer of securities or
registration” and “risks and uncertainties” carefully. If you are in any doubt as to the action you should
take, you should consult your legal, financial, tax or other professional advisor(s).
The Travelkoin tokens are not intended to constitute securities in any jurisdiction. This Whitepaper does By accessing and/or accepting possession of any information in this Whitepaper or such part thereof (as
not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of the case may be), you represent and warrant to Travelkoin as follows:
securities or a solicitation for investment in securities in any jurisdiction. — you agree and acknowledge that the Travelkoin tokens do not constitute securities in any form in any
This Whitepaper does not constitute or form part of any opinion on any advice to sell, or any solicitation of — you agree and acknowledge that this Whitepaper does not constitute a prospectus or offer document
any offer by the distributor/vendor of the Travelkoin tokens (the “Distributor”) to purchase any Travelkoin of any sort and is not intended to constitute an offer of securities in any jurisdiction or a solicitation for
tokens nor shall it or any part of it nor the fact of its presentation form the basis of, or be relied upon in investment in securities and you are not bound to enter into any contract or binding legal commitment
connection with, any contract or investment decision. and no cryptocurrency or other form of payment is to be accepted on the basis of this Whitepaper;
— you agree and acknowledge that no regulatory authority has examined or approved of the information
No person is bound to enter into any contract or binding legal commitment in relation to the sale and set out in this Whitepaper, no action has been or will be taken under the laws, regulatory requirements
purchase of the Travelkoin tokens and no cryptocurrency or other form of payment is to be accepted on or rules of any jurisdiction and the publication, distribution or dissemination of this Whitepaper to you
the basis of this Whitepaper. does not imply that the applicable laws, regulatory requirements or rules have been complied with;
— you agree and acknowledge that this Whitepaper, the undertaking and/or the completion of the
Any agreement as between the Distributor and you as a purchaser, and in relation to any sale and Travelkoin Initial Token Sale, or future trading of the Travelkoin tokens on any cryptocurrency exchange,
purchase, of Travelkoin tokens (as referred to in this Whitepaper) is to be governed by only a separate shall not be construed, interpreted or deemed by you as an indication of the merits of the Travelkoin, the
document setting out the terms and conditions (the “T&Cs”) of such agreement. In the event of any Travelkoin tokens, the Travelkoin Token Sale (each as referred to in this Whitepaper);
inconsistencies between the T&Cs and this Whitepaper, the former shall prevail. — the distribution or dissemination of this Whitepaper, any part thereof or any copy thereof, or acceptance
of the same by you, is not prohibited or restricted by the applicable laws, regulations or rules in your
No regulatory authority has examined or approved of any of the information set out in this Whitepaper. No jurisdiction, and where any restrictions in relation to possession are applicable, you have observed and
such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. complied with all such restrictions at your own expense and without liability to Travelkoin;
The publication, distribution or dissemination of this Whitepaper does not imply that the applicable laws, — you agree and acknowledge that in the case where you wish to purchase any Travelkoin tokens, the
regulatory requirements or rules have been complied with. Travelkoin tokens are not to be construed, interpreted, classified or treated as:
w any kind of currency other than crypto- currency;
There are risks and uncertainties associated with Travelkoin and its respective businesses and operations,
w debentures, stocks or shares issued by any person or entity (Travelkoin Foundation)
the Travelkoin tokens, the Travelkoin Token Sale (each as referred to in this Whitepaper).
w rights, options or derivatives in respect of such debentures, stocks or shares;
w rights under a contract for differences or under any other contract the purpose or pretended
This Whitepaper, any part thereof and any copy thereof must not be taken or transmitted to any
purpose of which is to secure a pro t or avoid a loss;
country where distribution or dissemination of this Whitepaper is prohibited or restricted. No part
w units in a collective investment scheme;
of this Whitepaper is to be reproduced, distributed or disseminated without including this section
w units in a business trust;
and the following sections entitled “Disclaimer of Liability”, “No Representations and Warranties”,
w derivatives of units in a business trust;
“Representations and Warranties By You”, “Cautionary Note On Forward-Looking Statements”, “Market
w any other security or class of securities.
and Industry Information and No Consent of Other Persons”, “Terms Used”, “No Advice”, “No Further
w you have a basic degree of understanding of the operation, functionality, usage, storage,
Information or Update”, “Restrictions On Distribution and Dissemination”, “No Offer of Securities Or
transmission mechanisms and other material characteristics of cryptocurrencies, travel-
Registration” and “Risks and Uncertainties”.
based software systems, cryptocurrency wallets or other related token storage mechanisms,
blockchain technology and smart contract technology;
w you are fully aware and understand that in the case where you wish to purchase any Travelkoin
DISCLAIMER OF LIABILITY tokens, there are risks associated with Travelkoin and its respective business and operations, the
To the maximum extent permitted by the applicable laws, regulations and rules, Travelkoin shall not be Travelkoin tokens, the Travelkoin Token Sale (each as referred to in the Whitepaper);
liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or w you agree and acknowledge that Travelkoin is not liable for any indirect, special, incidental,
otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising consequential or other losses of any kind, in tort, contract or otherwise (including but not limited
out of or in connection with any acceptance of or reliance on this Whitepaper or any part thereof by you. to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with
any acceptance of or reliance on this Whitepaper or any part thereof by you; and
w all of the above representations and warranties are true, complete, accurate and non-misleading
from the time of your access to and/or acceptance of possession this White- paper or such part
thereof (as the case may be).

21 22
CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS Nothing contained in this Whitepaper is or may be relied upon as a promise, representation or
undertaking as to the future performance or policies of Travelkoin Foundation .
All statements contained in this Whitepaper, statements made in press releases or in any place accessible
by the public and oral statements that may be made by Travelkoin or its respective directors, executive
Further, the Travelkoin Foundation disclaims any responsibility to update any of those forward-looking
officers or employees acting on behalf of Travelkoin (as the case may be), that are not statements of
statements or publicly announce any revisions to those forward-looking statements to reflect future
historical fact, constitute “forward looking statements”. Some of these statements can be identified
developments, events or circumstances, even if new information becomes available or other events
by forward-looking terms such as “aim”, “target”, “anticipate”, “believe”, “could”, “estimate”, “expect”,
occur in the future.
“if”, “intend”, “may”, “plan”, “possible”, “probable”, “project”, “should”, “would”, “will” or other similar
terms. However, these terms are not the exclusive means of identifying forward-looking statements. All
statements regarding Travelkoin Foundation’s financial position, business strategies, plans and prospects MARKET AND INDUSTRY INFORMATION AND NO CONSENT OF OTHERS PERSONS
and the future prospects of the industry which Travelkoin is in are forward-looking statements. These
forward-looking statements, including but not limited to statements as to Travelkoin Foundation’s revenue This Whitepaper includes market and industry information and forecasts that have been obtained from
and profitability, prospects, future plans, other expected industry trends and other matters discussed in internal surveys, reports and studies, where appropriate, as well as market research, publicly available
this Whitepaper regarding Travelkoin are matters that are not historic facts, but only predictions. These information and industry publications. Such surveys, reports, studies, market research, publicly available
forward-looking statements involve known and unknown risks, uncertainties and other factors that may information and publications generally state that the information that they contain has been obtained from
cause the actual future results, performance or achievements of Travelkoin Foundation to be materially sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such
different from any future results, performance or achievements expected, expressed or implied by such included information.
forward-looking statements.
Save for Travelkoin Foundation, the Distributor and their respective directors, executive officers and
These factors include, amongst others: employees, no person has provided his or her consent to the inclusion of his or her name and/ or other
— changes in political, social, economic and stock or cryptocurrency market conditions, and the information attributed or perceived to be attributed to such person in connection therewith in this
regulatory environment in the countries in which Travelkoin Foundation conducts its respective Whitepaper and no representation, warranty or undertaking is or purported to be provided as to the
businesses and operations; accuracy or completeness of such information by such person and such persons shall not be obliged to
— the risk that Travelkoin Foundation may be unable to execute or implement their respective business provide any updates on the same.
strategies and future plans;
— changes in interest rates and exchange rates of at currencies and cryptocurrencies; While Travelkoin Foundation have taken reasonable actions to ensure that the information is extracted
— changes in the anticipated growth strategies and expected internal growth of Travelkoin Foundation; accurately and in its proper context, Travelkoin Foundation have not conducted any independent review
— changes in the availability and fees payable to Travelkoin Foundation in connection with their of the information extracted from third party sources, verified the accuracy or completeness of such in-
respective businesses and operations; formation or ascertained the underlying economic assumptions relied upon therein.
— changes in the availability and salaries of employees who are required by Travelkoin Foundation to
operate their respective businesses and operations; Consequently, neither Travelkoin Foundation, the Distributor, nor their respective directors, executive
— changes in preferences of customers of Travelkoin Foundation; officers and employees acting on their behalf makes any representation or warranty as to the accuracy or
— changes in competitive conditions under which Travelkoin Foundation operate, and the ability of completeness of such information and shall not be obliged to provide any updates on the same.
Travelkoin Foundation to compete under such conditions;
— changes in the future capital needs of Travelkoin Foundation and the availability of financing and
capital to fund such needs;
— war or acts of international or domestic terrorism; To facilitate a better understanding of the Travelkoin tokens being offered for purchase by the Distributor,
— occurrences of catastrophic events, natural disasters and acts of God that affect the businesses and/or and the businesses and operations of Travelkoin Foundation, certain technical terms and abbreviations, as
operations of Travelkoin Foundation; well as, in certain instances, their descriptions, have been used in this Whitepaper. These descriptions and
— other factors beyond the control of Travelkoin Foundation; and assigned meanings should not be treated as being definitive of their meanings and may not correspond to
— any risk and uncertainties associated with Travelkoin Foundation and their businesses and operations, standard industry meanings or usage.
the Travelkoin tokens, the Travelkoin Foundation Initial Token (each as referred to in the Whitepaper).
Words importing the singular shall, where applicable, include the plural and vice versa and words
importing the masculine gender shall, where applicable, include the feminine and neuter genders and vice
All forward-looking statements made by or attributable to Travelkoin Foundation or persons acting on
versa. References to persons shall include corporations.
behalf of Travelkoin Foundation are expressly qualified in their entirety by such factors. Given that risks
and uncertainties that may cause the actual future results, performance or achievements of Travelkoin
Foundation to be materially different from that expected, expressed or implied by the forward-looking NO ADVICE
statements in this Whitepaper, undue reliance must not be placed on these statements. These forward-
looking statements are applicable only as of the date of this Whitepaper. No information in this Whitepaper should be considered to be business, legal, financial or tax advice
regarding Travelkoin Foundation, the Distributor, the Travelkoin tokens, the Travelkoin Foundation Initial
Neither Travelkoin Foundation, the Distributor nor any other person represents, warrants and/or undertakes Token Sale (each as referred to in the Whitepaper). You should consult your own legal, financial, tax or
that the actual future results, performance or achievements of Travelkoin Foundation will be as discussed other professional adviser regarding Travelkoin Foundation and its respective businesses and operations,
in those forward-looking statements. The actual results, performance or achievements of Travelkoin may the Travelkoin tokens, the Travelkoin Foundation Initial Token Sale (each as referred to in the Whitepaper).
differ materially from those anticipated in these forward-looking statements. You should be aware that you may be required to bear the financial risk of any purchase of Travelkoin
tokens for an indefinite period of time.

23 24
No person has been or is authorized to give any information or representation not contained in this
Whitepaper in connection with Travelkoin Foundation and its respective businesses and operations,
the Travelkoin tokens, the Travelkoin Foundation Initial Token t (each as referred to in the Whitepaper)
and, if given, such information or representation must not be relied upon as having been authorized by
or on behalf of Travelkoin Foundation. The Travelkoin Foundation Initial Token Sale (as referred to in the
Whitepaper) shall not, under any circumstances, constitute a continuing representation or create any
suggestion or implication that there has been no change, or development reasonably likely to involve a
material change in the affairs, conditions and prospects of Travelkoin Foundation or in any statement of
fact or information contained in this Whitepaper since the date hereof.

The distribution or dissemination of this Whitepaper or any part thereof may be prohibited or restricted by
the laws, regulatory requirements and rules of any jurisdiction. In the case where any restriction applies,
you are to inform yourself about, and to observe, any restrictions which are applicable to your possession
of this Whitepaper or such part thereof (as the case may be) at your own expense and without liability to
Travelkoin Foundation.

Persons to whom a copy of this Whitepaper has been distributed or disseminated, provided access to
or who otherwise have the Whitepaper in their possession shall not circulate it to any other persons,
reproduce or otherwise distribute this Whitepaper or any information contained herein for any purpose
whatsoever nor permit or cause the same to occur.

This Whitepaper does not constitute a prospectus or offer document of any sort and is not intended to
constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. No person
is bound to enter into any contract or binding legal commitment and no cryptocurrency or other form
of payment is to be accepted on the basis of this Whitepaper. Any agreement in relation to any sale and
purchase of Travelkoin tokens (as referred to in this Whitepaper) is to be governed by only the T&Cs of
such agreement and no other document. In the event of any inconsistencies between the T&Cs and this
Whitepaper, the former shall prevail.

No regulatory authority has examined or approved of any of the information set out in this Whitepaper. No
such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction.
The publication, distribution or dissemination of this Whitepaper does not imply that the applicable laws,
regulatory requirements or rules have been complied with.

Prospective purchasers of Travelkoin tokens (as referred to in this Whitepaper) should carefully consider
and evaluate all risks and uncertainties associated with Travelkoin Foundation, the Distributor and their
respective businesses and operations, the Travelkoin tokens, the Travelkoin Foundation Initial Token
Sale (each as referred to in the Whitepaper), all information set out in this Whitepaper and the T&Cs prior
to any purchase of Travelkoin tokens. If any of such risks and uncertainties develops into actual events,
the business, financial condition, results of operations and prospects of Travelkoin Foundation could be
materially and adversely affected. In such cases, you may lose all or part of the value of the Travelkoin