Press Release

GOeureka – Next-Gen Solution Shaping The Future of Online Hotel Booking

Share

Hotel is one of important thing that people experience when they want to travel. Web booking hotels is one of the most popular and successful services on-demand. Many people concern about hotel booking, what is it, how it works, how much it take expenses and how it compares to other type of hotels. What happends if blockchain technology is applied to the hotel booking? What impact will be given  from the use of blockchain on hotel booking? As is known blockchain technology has many advantages and also has been applied in many developed countries in the world to help their industries. Initial coin offering, fund rising with cryptocurrency, creates a new business project of the trend of hotel booking in the digital industry. This project name is GOeureka.

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. By reducing the financial commitments of hotels to third-party booking platforms, GO’s vision is to enable hotels to focus more resources on providing better intrinsic value and services to travellers around the globe. GOeureka can be one of your alternative choices in hotel booking.

What is 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 aims to develop an easy to use, reliable Facility and Services booking system with persistent indisputable records. As with all new systems, much of what is proposed will evolve over time as requirements change. The web platform will be developed with a backend built on the Python Django framework while individual components will be built using a mix of programming languages (HTML, CSS, Javascript, Golang, etc.) and the mobile application built on the Ionic framework. The database will be a PostgreSQL database that runs on a cloud server (Amazon Web Service) with certain data validated and stored on the Ethereum blockchain. Smart contracts will be ERC20 compliant (though newer standards may be applied after the time of writing) and customized using Solidity.

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.

How It Works?

The Future of Online Travel Bookings

  • zero commission fee
  • automated rebooking feature
  • interoperable loyalty points
  • fiat & cryptocurrency payment method
  • worldwide coverage at launch

Why Ethereum blockchain?

The blockchain provides GOeureka with the required token economics needed to eliminate high commission fees and the ability to facilitate interoperable loyalty points. GOeureka’s platform also benefits from the distributed ledger technology that guarantees security and transparency across its platform.

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.

GoEureka Web Application Platform

  • Booking & Inventory Platform
    The web application platform will host a booking platform for travellers and a hotel inventory
    system for hotels. Travellers will be able to search and book hotels. Hotels can update room inventory and prices directly or integrate with channel managers.
  • Rebooking Feature
    Travellers will enjoy automatic post-booking discounts for their stays through GOeureka’s
    patent-pending rebooking feature. The GOeureka rebooking algorithm detects when a hotel rate
    drops, and automatically re-books an existing booking (qualified bookings that have not passed
    and are within valid cancellation policies) at the lower rate.
  • GO store
    The GO store is an in-app exchange for token holders to purchase GO credits using GO tokens. It is a safe and fast liquidation option for token holders to convert tokens into spendable fiat-value credits. Users enjoy discounted products and services on the GOeureka platform when purchasing with GO credits.
  • The Proxy Wallet
    One key issue typically faced when designing a blockchain system for mass adoption is the handling of user wallets. While a hardware wallet like a Ledger Nano or a plug in like Metamask can expect users to use a recovery phrase, general users are unlikely to be happy with such a solution.
  • Payment Processing
    GOeureka aims to provide multiple payment methods that appeal to both traditional and crypto
    consumers. Consumers will have the option to transact using fiat currency, major cryptocurrencies, GO credits or loyalty points. Prices of goods and services will be displayed in fiat and the cryptocurrency of user’s choice. There are multiple available approaches for the development of GOeureka’s payment processing. For the traditional checkout process where payment is made in fiat, GOeureka will implement a third-party payment gateway. This method sees payment being processed through a payment gateway (e.g. PayPal) that sends transaction details to a payment processing network (typically hosted by a merchant’s bank). Once processed, the processing network sends approved data to the credit card issuer to proceed with the funds transfer.

  • The Proxy Wallet
    One key issue typically faced when designing a blockchain system for mass adoption is the handling of user wallets. While a hardware wallet like a Ledger Nano or a plug in like Metamask can expect users to use a recovery phrase, general users are unlikely to be happy with such a solution.

Mobile Application Platform

The mobile application platform will act as an extension of the web application, with the same consumer-related functions. Additional mobile app functions are detailed below.

  • Check-in & Check-out
    As consumer data will be shared between GOeureka and hotels, the consumers will have a seamless check-in experience during their stay. Upon registration, GOeureka collects personal identifiable information, which will be encrypted and stored off-chain. This information will be used to facilitate the check-in process since users are already authenticated on the GOeureka platform. Unique identifiers will be matched with data from the hotel’s central reservation system and consumers are able to check-in directly on the mobile app.
  • Hotel Services
    Upon check-in, authentication tokens will be sent to GOeureka’s hotel CMS and guests will be matchmade with the hotel they have checked into once tokens are authenticated in the backend. Hotels and guests will have direct access to each other and will be able to communicate for the duration of the stay. Guests will be entitled to the aforementioned hotel services, depending on what hotels make available.
  • Room Key
    To provide full self-service capabilities, GOeureka will also provide a room key feature on the
    mobile app. The availability of the mobile room key depends on the hotel’s physical infrastructure, but hotels with smart locks or keypad locks will have the room key feature
    integrated on GOeureka’s app.

Token Details

 

Positives
  • The Market: is huge, but with the advancement of technology the language barrier is collapsing.
    And users of blockchains enjoy those technologies for the foreseeable future. Many of them will contact the hotel directly in the future.
  • VISION: Cutting out the middleman in the hotel industry is an excellent use case for the blockchain. However, the competition in this sector is high so marketing and branding for this project need to be strong
  • TEAM: The team is fairly small but appears to have experience in the industry which is reassuring. A strong board of advisors.
  • PRODUCT: The whitepaper is well-developed with a detailed section on how the project will be marketed which is important in such a compeitive industry. The MVP is available to use.
Negatives
  • Big competitors with huge customer base (hotels and customers, both)
  • Low crypto adoption rate for ordinary customers/hotels management
  • Big competitors from point 1 can became “tech evangelists” for hotes/customers, teaching them how to use crypto and related tech, introducing their loyalty points, this is not so complex.

Disclaimer: All information on this post is made to educate our readers. Don’t invest in any ICO unless you’re confident about its capabilities and do so at your own risk.


WebsiteWhitepaperTwitter | Telegram | Facebook | Instagram | LinkedIn | Medium 



Bitcointalk Profile: Pixmartz
Link Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=841835
ETH Address: 0xa38370065430E1c101A339f0c779D52685c754D7


Share

Leave a Reply

Your email address will not be published. Required fields are marked *