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TrustaBit

Blockchain for Delayed Flights


Blockchain for flight delays. TrustaBit uses blockchain technology with smart contracts to automatically issue flight vouchers to passengers when their flights are delayed.

Tourism

3.9


3.9
ICO PROFILE
0.0
TEAM
0.0
VISION
0.0
PRODUCT
Ended
Start Date 04 Feb 2018
End Date 15 Mar 2018
Token TAB
Platform Ethereum
Country USA

About TrustaBit

TrustaBit is a state of the art software solution that will give airlines the opportunity to automatically issue vouchers to passengers when their flights are canceled or delayed. The total passenger rights market is estimated to be $3.3 billion annually. Since 2013, AirHelp has collected $85 million in total compensation from passengers who have had their flights delayed. AirHelp functions as a middleman; the passenger provides information about their flight to AirHelp, who then works directly with the airline to get compensation on the customer’s behalf. To date, a total of 1.3 million passengers have used this service and they have paid AirHelp a fee of 25% of the total amount collected. These numbers show that passengers are willing to pay extra for a trust worthy digital service that will give them what they are owed.

In the European Union they have established EU261 which states that airlines have to pay a compensation to the passenger in the range of $261- $626 depending on the time and distance of the flight. In the United States there is no specific law to help with delayed flights unless you have an international itinerary, then the Montreal Convention will apply. Many US carriers still choose to compensate passengers for the inconvenience of those delays and cancelations.

Your airline can increase its return on investment for passenger compensation by directly offering their customers a more efficient and convenient way to receive their vouchers. Our smart contracts will allow your customer service agents to focus more on “the tricky” situations while leaving the mundane and repetitive work to our system. Long waiting times, subpar customer service and excessive administrative procedures are among the current pain points for passengers who attempt to collect vouchers directly from an airline." When you implement our blockchain solution you can increase your customer loyalty and take advantage of this new market segment. According to a J.D. Power study, “When passengers choose an airline based on reputation or experience – as opposed to cost or schedule- satisfaction and brand loyalty increases.”

Team

Saritta Hines member of TrustaBit ICO
Saritta Hines
Founder / Chief Executive Officer
Blair White member of TrustaBit ICO
Blair White
Founder / Chief Sales Officer
Woody Means member of TrustaBit ICO
Woody Means
Chief Technology Officer
Jaymes Hines member of TrustaBit ICO
Jaymes Hines
Chief Marketing Officer
Kelvin Ndereba member of TrustaBit ICO
Kelvin Ndereba
Blockchain Developer
Sheletha Drew member of TrustaBit ICO
Sheletha Drew
Senior Corporate Tax Analyst
Samuel Dare member of TrustaBit ICO
Samuel Dare
Lead Hyperledger Developer
JaMarr Johnson member of TrustaBit ICO
JaMarr Johnson
Director of Marketing
Mahroze Baloch member of TrustaBit ICO
Mahroze Baloch
Corporate Transactional Attorney
Casey Gardiner member of TrustaBit ICO
Casey Gardiner
Co-founder at DigiWallet

Milestones

  • 1

    Q4 2017 Idea Creation

    • Global airline voucher market research
    • Whitepaper
    • Registration of legal entity
    • Technical feasibility assessment

  • 2

    Q1 2018 Token sale

    • Team set up
    • Token presale
    • Token sale
    • Distribution and creation of TABs

  • 3

    Q2 2018 Development

    • API integration with Blockchain technology
    • Smart contract development
    • Security audit
    • Formation of strategic partnerships

  • 4

    Q3 2018 Business Development

    • Brand awareness initiatives
    • International marketing campaigns
    • Worldwide launch of TrustaBit API

  • 5

    Q4 2018 Growth Strategy

    • Product Development
    • Increase our addressable market
    • integrate TrustaBit into broader market’s (retail, hospitality, tourism)

Financial

Token Info
Token TAB
Token Type ERC223
Platform Ethereum
Investment info
Accepting ETH
Distributed in ICO 61%
Soft cap 3,000,000 USD
Hard cap 49,000,000 USD

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