Cryptocurrencies are still gaining more areas of application, as the travel industry becomes one of the latest sectors to adopt the use of the virtual currencies in its rewards model. In May, WeGoGo announced plans to launch a Crypto-based reward system. KeyoCoin is also introducing a similar program in the Americas. The latest development is expected to enhance the use of the digital assets by smaller travel providers and users and thereby shift the power from large distributors.
WeGoGo Rewards Model
WeGoGo inaugurated an initial coin offering of WeGold, a Cryptocurrency that will be used within the platform in May. The users will get rewarded for making travel recommendations, taking part in beach cleaning when on trips, and sharing eco-tips with other travelers on the platform.
WeGoGo will encourage the users to popularize longtail providers like local surf and dive schools by rewarding them. The program will also incorporate these businesses into the travel rewards system. Furthermore, unlike the traditional distribution systems that marginalize the smaller players, WeGoGo will nurture a “fair share” system.
Keyocoin To Launch A Travel Rewards Program
In the US, KeyoCoin has said it will introduce a blockchain-based travel rewards program. The company has indicated that the program will shift power from the few large businesses to many small players. The new program will benefit both the travelers and the travel service providers and will be powered by KeyoCoin cryptocurrency.
Local experience providers, travel, hospitality, and other businesses will use the new system to reward their customers. The users will be rewarded in the Cryptocurrency for buying or successfully accomplishing local-based travel challenges such as Amazing Race among others. The travelers will be able to use the KeyCoins for traveling, taking part in various activities, accommodation, and share with friends and family going for trips, or to tip the staff.
KeyoCoin platform is available in an app that has more than 12,000 tours and activity products and plans are underway to introduce hotels. All these facilities are located in four US markets and six South American nations. The project is expected to benefit both the businesses and users in the travel industry in the region.
KeyCoin has a strong advisory team composed of prominent individuals from successful businesses. They include Rick Savage who works at Apple as the head of social media and Oracle’s Vice President, Layla Ravis. Other advisors include an Ethereum investor called Federico Pistono, IGN SEO director Marat Gaziev and Tamara Camp who once worked at Live Nation as the vice president.
Why The Introduction Of The New Reward Models Is Important
Matt Baer notes that although the travel industry has been using loyalty programs for a long time, only airlines and large hotels have been able to enjoy its benefits. The CEO and founder of KeyoCoin adds that the presence of various challenges makes the programs uninspiring to earn and fail to reach their potential.
Sarah Dandashy says that the introduction of such new reward programs will help in bridging the gap between local experience providers and travelers. The head of travel and hospitality at KeyoCoin also notes that the new program will allow travelers to have the exact experience that they are looking for.