Blockchain Hotel Platform Triphop Rewards Travel Influencer Marketingbr>
Triphop, a blockchain social travel and rewards platform used by over 60,000 members and 550,000 hotels, has instituted a new travel program: a rewards system leveraging the power of influencer marketing to offer instant cash back and rewards to hotels guests, including complimentary room upgrades, in-stay benefits, and Tripcoins.
Through Tripcoin’s platform, guests can be rewarded with digital currency based on their level of online activity, including ratings, posts, and engagement. Guests will also receive a better in-stay experience via perks and benefits personalized by the hotel, ultimately increasing the online presence and the digital footprint of hotels operating on Triphop.
Triphop CEO and Co-Founder Basil Elotol answered some Block Tribune questions on the platform.
BLOCK TRIBUNE: Walk me through how this works. Someone books through Triphop. When do the cryptocurrency rewards start?
BASIL ELOTOL: Rewards for a booking are presented to the user when they are on the application searching for hotels. These rewards are received once the user has completed their stay. Users can also earn additional rewards by sharing their experience on social media. Booking and social media rewards can be cashed out immediately after a user’s stay is completed.
BLOCK TRIBUNE: I take it the benefits are different for each property? Or are there baseline benefits?
BASIL ELOTOL: Benefits do vary by property and are based on the user’s booking frequency and the size of her social media following. Please note that benefits differ from rewards. Rewards also vary by property.
BLOCK TRIBUNE: How will you measure the social media influence of guests? Will it be a numbers thing? What platforms are monitored?
BASIL ELOTOL: The social media influence of guests will be measured by looking at the users reach, engagement, and mentions using a combination of proprietary and third party social media monitoring tools. Twitter, Facebook, LinkedIn, and Instagram are the initial platforms under consideration.
BLOCK TRIBUNE: 20-year-old Instagram models have different tastes than 40-year-old travelers. How will that be accounted for in the measurements?
BASIL ELOTOL: While it is true that a 20-year-old may have different taste than a 40-year-old, the goal is to expand the digital footprint for the hotel – leverage our members as brand promoters. That effort will be measured through social performance metrics such as reach and engagement.
BLOCK TRIBUNE: Does the service monitor reviewers? How will negative reviews be dealt with?
BASIL ELOTOL: Reviews and ratings are recorded on the blockchain, alongside other trip details. Triphop is developing a Proof Of Stay (PoS) protocol which validates that a user has indeed stayed at the hotel before allowing him to leave reviews. Blockchain technology allows for the information to be authentic and valid for travelers, by keeping a digital ledger.
BLOCK TRIBUNE: If you are successful, how will this alter the existing landscape for travel booking? Who might be disintermediated?
BASIL ELOTOL: Triphop’s vision is to maximize value for travelers and hotels, creating a ecosystem where incentives are aligned between traveler and hotel. OTAs, indirect inventory providers, and travel management platforms may be impacted. In addition, payment processors will be disintermediated when a user books a hotel using Triphop tokens.
BLOCK TRIBUNE: Tell me your token sale details
BASIL ELOTOL: The pre-sale will be starting October 15 and the public sale on November 15. Triphop has a Hard Cap of 50 million USD and a Soft Cap of 5 million USD.