Pratiwi Kusumaningtyas: GOeureka — Blockchain Hotel Booking Platform

GOeureka

GOeureka is an online booking platform that leverages blockchain technology to tackle current issues in the travel industry such as high commission structures imposed by online travel agencies (OTAs) and the fragmented loyalty programmes within the hotel industry. The platform is a partially decentralised web and app platform to provide travellers and hotels direct access to communicate with each other.

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.

HOW IT WORKS

EXCELLENCE OF GOeureka

GOeureka chose the Ethereum blockchain due to its flexible and extensible nature. The use of Ethereum smart contracts allows for the creation of “autonomous agents” that may be implemented throughout GOeureka’s platform to automate many processes and remove various third-parties that usually result in a slower process and multiple transaction fees that lead to high costs.

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.

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.

ERC20 smart contracts will be utilized for the security and immutability of data throughout the platform. To increase performance and keep transaction fees to a minimum, individual transactions and bookings will be kept outside of the blockchain. The settlement of all transactions will occur off-chain and fulfilled transactions will be aggregated each day and sent through the smart contract to be validated and stored on the blockchain.

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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.

The GO platform includes the following:

Website with booking and payment functionalities
Mobile application for customers and hotels to communicate directly with each other
A centralized database and server to store Personal Identity Information (PII), customer booking details, and data from hotels
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.

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.

TOKEN DETAIL