A self-funded startup in San Jose, California has been quietly building a blockchain-based travel ecosystem for the past 3 years and is finally readying itself to launch. Its name is XcelTrip and it is branding itself as the first Decentralized Travel Ecosystem (DTE) in existence.
The problem that XcelTrip primarily seeks to solve is the existence of intermediaries who charge a cumulative gross margin as high as 25% from vendors, which typically ends up resulting in added costs to the traveler. It intends to essentially eradicate that excessive fee through use of blockchain-based tools and components, a system of reservations, fulfillment and settlements along with real-time after sales service.
Xceltrip is working to revolutionize the OTA industry with integration of Blockchain and Tokenomics on its web platform and mobile app. It will implement Blockchain technology in a rapid evolution process, retaining and value adding to functionality of the existing OTAs processes, which seeks to ensure easy adoption and least resistance and progressively create a one of a kind, fully Decentralized Travel Ecosystem on the Ethereum Protocol.
Initially, XcelTrip intends to offer traditional-style search, view and purchase options for airline tickets and hotel rooms on its web portal and mobile application, while also including blockchain-based features and soon plans launch value added services such as "X Talk" and "X Cabs" to its users.
"Being an entrepreneur I had always envisioned a system that empowers the masses at large," says XcelTrip CEO Hob Khadka. "Imagine being armed with the ability to earn when you travel. You would like that wouldn't you? Now if you are able to earn when your friends traveled or even better when anyone traveled, wouldn't that be fantastic? So at the core of XcelTrip we created the IMP (Independent Marketing Partner) program where any individual with an entrepreneurial spirit is entitled to a share from the earnings of XcelTrip by simply doing two things; (1) encourage and ensure listing of vendors at XcelTrip to market, promote and sell their products &/or services and (2) to consistently engage with the vendors giving them an edge over their contemporaries in the market while providing the best quality in products and services and concurrently increasing the gross margins."
Many entrepreneurs look for an exit after three years of working on a project. Khadka is a bit different, as he has been working on building the infrastructure for that amount of time and also recognizes that it will take a few more years before his system is built to be fully decentralized, which is a core component of the platform he seeks to establish.