Concierge.io ICO [Review]
Finally there is platform in the Travel Industry that connects customers directly to the provider. Concierge is transforming the travel industry by cutting out the middleman, resulting in 0% supplier commission fees and lower prices for the customer.
Powered by NEO blockchain technology, Concierge transactions are fast, transparent and secure via the use of smart contracts and digital assets, which can all be done in one convenient decentralized app (dApp) and/or via the website. Transactions are made over the NEO blockchain through the user-friendly Concierge platform and also making use of integration with the Concierge token (CGE). It’s a system that converts cash and other crypto to CGE, which can then be used across the entire Concierge network.
Could Blockchain Booking Systems See Hotel Prices Tumble?
Currently you would go to a market-leading site like Expedia, Booking.com or Agoda to access and browse listings, and to compare hotels, tours and flights. Once you’ve found a vender that ticks all the boxes and meets your needs, you book them using that site. Easy, right? Absolutely, however the site will take a commission from the vendor for promoting their business and the customer ultimately ends up paying this, as the vendor must increase their price to counter-act paying this fee.
Concierge plans to deliver this same convenient service and listing platform but with improvements that eliminate this problem by removing commission fees for the supplier and in-turn reducing the cost and increasing the level of service for customers who will save 15 – 45% on each booking. The knock-on effect is that hotel and travel costs would be cut down in order for the suppliers to be competitive with one another, but with at no loss to them as their costs are also reduced by using Concierge.
Out with the Old in the with New
Ethereum is a widely-known competitor of NEO, and a number of other crypto-startups in the travel space have chosen to build their platforms on top of the Ethereum blockchain. The Ethereum system currently uses proof-of-work system (POW), and can complete only 15 transactions per minute. Concierge on the other hand uses the technological advances of NEO, who’s system is operating at 1,000 transactions per second with the aim to be running at 100,000 t/s by 2020. With non-crypto travel market leader’s such as Booking.com having transaction speeds of approximately 30 seconds, it is obviously something to consider when evaluating the importance of backing the best in the business. Fast transactions = happy customers.
Utilizing NEO and How It Works?
NEO is a unique non-profit community-based cryptocurrency that utilizes blockchain technology and digital identity to digitize assets to automate the management of digital assets by using smart contracts. It has become far safer to own digital assets as blockchain technology makes the digitization of these assets decentralized, safe, trustworthy, and free of a third party. Utilizing NEO allows bookings to be made instantly and have live updates on availability on listings across the marketplace.
Concierge offers an eco-friendly approach by utilising the NEO proof-of-stake protocol (POS), with each transaction costing just a drop of gas (less than $0.001). Conversely, a majority of other cryptocurrencies like Ethereum use POW in order to secure their blockchain. Although POW is well known for being the first concurrency mechanism to be utilized (by Bitcoin), it is equally as well known for the significant energy inefficiency it inherently creates, which ends up consuming more power than over 159 countries around the world.
It makes sense doesn’t it, combining the already proven successful concept of a one-stop travel marketplace with the best, up-to-date POS, NEO blockchain technology. The result is a more affordable and profitable system for everyone involved with faster, safer and more environmentally friendly methods of transactions.
The Future for Concierge
Concierge.io is on track to great success already with both their whitelist token sale and their Pre-ICO token sale being sold out within 4 hours of being released. So far, the project has raised approximately $2,175,000 USD for the sale and released of 20,000,000 CGE. There are 100,000,000 CGE in total supply, with 65% allocated to the public through previous and upcoming token distribution events, 15% retained for the team, advisors and the Concierge community and 20 % reserved for future business development and inevitable market expansion.
Their focus is to create a travel hub for users and vendors to connect without the excessive fee structures that are currently the norm, and to substantially increase worth of the CGE token in the process. Naturally CGE’s value has the potential to increase as they grow their team, bringing in both blockchain and travel industry experts and develop their platform to incorporate the benefits of blockchain tech, whilst hoping to bring about long-term, positive change the travel industry.
Upcoming ICO token sale
The Concierge.io main token sale starts on the 31st March, and runs until the 31st April, with a hard-cap of 45 Million CGE being set. 1 CGE is set at a value of $0.35 USD, however within the first 12 hours of the token sale bonuses of up to 25% are available.
To get involved with the next big ICO, and one that’s bringing the travel industry into a new world of bleeding-edge tech advances, check out https://token.concierge.io.