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TrustaBit

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TrustaBit ICO details

Start Date: 2018-2-5

End date: 2018-2-12

    • Category: Tourism
    • Token: TAB
    • Platform: Ethereum
    • Type: ERC223
    • Initial price: 1 TAB = 0.10 USD
    • Accepting: ETH
    • Soft cap: 3,000,000 USD
    • Hard cap: 49,000,000 USD

TrustaBit – Blockchain for delayed flights

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 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.”

The Problem

Airline customer loyalty driven by service, not price

Currently, when a passenger’s flight is delayed, there is no seamless way for them to get a voucher. The passenger has to explain what happened to a call center or through a form, wait for the customer service rep to decide whether they will receive a voucher and for what amount, then continue to wait for the voucher to be emailed or mailed to them. Then the passenger has to wait again for the voucher to either be emailed or mailed to them. By the time the voucher reaches the passenger the customer loyalty has already decreased. The frustration from this customer’s experience can impact the airline’s reputation and future sales in a number of ways, as disgruntled customers may post negative social media posts, share poor reviews online and offline, and bring their future business to a competitor.”

The Solution

By using our software, we want to nurture back the travelers emotional connection to your airline. When you deploy TrustaBit into your environment, users can be compensated immediately based on set business criteria. The vouchers will be sent to their email address immediately when their flights are delayed or cancelled without the need for them to call into a call center or to fill out a form. This will allow you to make things right with the passenger the first time to increase brand loyalty.
trustabit how it works

Team

Saritta Hines

Founder / Chief Executive Officer

Blair White

Founder / Chief Sales Officer

Woody Means

Chief Technology Officer

Jaymes Hines

Chief Marketing Officer

Kelvin Ndereba

Blockchain Developer

Sheletha Drew

Senior Corporate Tax Analyst

Samuel Dare

Lead Hyperledger Developer

JaMarr Johnson

Director of Marketing

Landon Williams

UX/UI Designer

Hakar Sulaiman

Creative Design Engineer

TrustaBit Advisors

Mahroze Baloch

Corporate Transactional Attorney

Casey Gardiner

Co-founder at DigiWallet

Milestones

Q4 2017 Idea Creation
• Global airline voucher market research • Whitepaper • Registration of legal entity • Technical feasibility assessment
Q1 2018 Token sale
• Team set up • Token presale • Token sale • Distribution and creation of TABs
Q2 2018 Development
• API integration with Blockchain technology • Smart contract development • Security audit • Formation of strategic partnerships
Q3 2018 Business Development
• Brand awareness initiatives • International marketing campaigns • Worldwide launch of TrustaBit API
Q4 2018 Growth Strategy
• Product Development • Increase our addressable market • integrate TrustaBit into broader market’s (retail, hospitality, tourism)

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