XcelTrip was designed in order to create a perfect travelling experience. The company’s headquarters is in San Jose, California. The team is working hard and developing new features to totally reform the travelling industry by incorporating an innovative blockchain technology into its own web platform and mobile app. Hob Khadka is a successful businessman and large-scale investor. He is an author of the idea and concept of XcelTrip.
Hello, Hob. What are the purpose and mission of your project?
Metaphorically speaking, we are trying to create a Global Travel super highway without any tole or fee. XcelTrip’s mission is to make travel industry most efficient by creating a decentralized platform for the entire travel ecosystem, where service providers as well as consumers (travelers) can make travel transactions without paying any fee. The XcelTrip business concept is opposite to the existing travel business paradigm which is overwhelmingly controlled by Online Travel aggregators, also known as middlemen.
How did you start to create this project?
The idea to create such business came from my frequent travel experience. In the last five years, I have spent more than half of my time travelling outside the country. Naturally, as a frequent business traveler, I was curious to understand the business environment within the travel industry, and, to my surprise, I discovered that forty percent of the travel cost is associated with the intermediary or middle man, who add little or no value to the travel experience. Such revelation made me realize that travel industry needs a business model that connects Travel service providers with travelers without involving any intermediary.
Your personal attitude to the project?
The XcelTrip project is divided in two phases. In phase one, we will have full functional (airline ticket, hotel and B&B) travel OTA business up and running, which is expected to be done by the end of June 2018. Immediate after the fully functional OTA model, our tech team will be working on converting the OTA model to decentralized platform, which has been already designed. By the end of December 2019, XcelTrip will be on Blockchain decentralized platform, at which point we will become feeless travel portal.
Why is it worth investing in your project and when can it be done?
While the word “disrupter” is frequently used in today’s business environment, XcelTrip is not only a disrupting business model, we are confident it’s going to disrupt even some of the known disrupters like Air B&B and Uber. Contrary to those disrupters with a centralized business model and fee driven revenue, XcelTrip is built on decentralized platform without any fee. Because of the feeless decentralized platform with many value added services and best loyalty and reward program offered by any travel company, we expect hundreds of millions of travel service providers and travelers to use XcelTrip Portal for their travel transactions and XcelToken, as a payment method. Additionally, XcelTrip is also expanding the use case of XcelToken to the entire hospitality industry through discount and promotions, which is likely to help drive the XcelToken value higher.
What is the vision of your project?
I believe the market watchers will watch out for two things – XcelTrip platform and use case for XcelToken. As XcelTrip becomes a hit of the public for their travel purchases and XcelToken becomes a method of payment, the value of XcelToken will rise and thus will be in demand.
How will XcelTrip disrupt $7.6 trillion dollar travel industry?
As I said above, XcelTrip model is not like any other model in the travel Industry. While other existing OTA businesses thrive on fee and corporate style centrally controlled management, we are taking the fee away from the travel business model and creating a horizontally decentralized travel platform managed by computer protocols and logic and governed by the users of the platform comprised of all travel Ecosystem stakeholders, such as airline, hotel, homestead, etc., as well as travelers. We have also created a token as a means to purchase (utility) travel services, which is also a value proposition for investors. The whole XcelTrip paradigm is based on replacing the middleman from travel industry, which is imbedded in most aspects of the $7.6 trillion dollars travel and hospitality industry today.
Why is XcelToken different than other cryptocurrency?
Many businesses, claiming to be utility token have created the token before having any business use case for their token. Unlike those “cart before horse” white papers only utility tokens, XcelToken is backed up by its own use case, XcelTrip ecosystem. Also, while many utility tokens, such as Ripple, are using their tokens for business to business (B2B) usage only, XcelToken is one of the pioneers in B2C business utility. Finally, unlike other utility tokens, which are designed to be used within their business environment only, we are expanding the utility of our token beyond XcelTrip – to hospitality industry and more.
The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.