Travel and Tourism Aggregation Market Utilises Blockchain Technology
AGT Technologies, a blockchain solutions company, is setting out to revolutionise the travel and tourism industry by implementing blockchain technology. The platform uses Ethereum blockchain and smart contracts to eliminate complexities encountered in the industry. As its initial product offering, the company is creating a blockchain based taxi aggregation service, designed to have greater transparency and cost-effectiveness in comparison to existing companies such as Uber or Lyft.
The membership-based decentralized cab aggregation platform is powered by native AGT Tokens, which the company is offering as a part of its crowdsale campaign. The platform has created a total of 54 Million ERC20 tokens, with the potential to serve a significant portion of a market that currently has over 1.2 billion customers across the world.
The creators of AGT Platform are attempting to solve issues such as the lack of transparency in pricing for customers and hefty commissions paid by the drivers amid increased competition. By introducing a democratized token economy, it will eliminates middlemen and replace them with an automated smart contract powered system, allowing drivers to retain most of their earnings, potentially making it cheaper for customers.
In addition to the cost benefits, the platform will also provide safety features like live tracking and more. It supports multiple cab booking models – Aggregator Model and Ownership model for the convenience of both drivers and customers. Following the success of blockchain-based cab aggregation project, AGT intends to shift its focus to Hotel and Airline Aggregation solutions.
The platform underwent a closed group funding round from the 23rd of November, 2017, followed by token pre-sale, which went live on the 1st of December. The main crowdsale is set to start on the 15th of December, 2017. The company aims to complete the platform development by next November and release it to public use by May 2019.