Travelflex Coin

As TravelFlex does not focus on any particular region, it might be hard for them to yield significant growth rates. Also, the industry of international payments is considered as highly competitive with low barriers to entry. There are players ranging from IT-Startups (TenX, CryptoPay, Monaco) to traditional banks and payment systems (PayPal, Visa, MasterCard). Moreover, there are already several competitors in the area of crypto international payments with existing products available for customers (TenX). The competitive advantages over digital banks (Monzo, Revolut) is not clear and thus cannot be proved. According to Gartner Report, replacing an existing near-real-time payment solution with a blockchain-based one will deliver little intrinsic benefit and it will not lead to significant shifts in the industry.

The roadmap is not clearly given in WP. The provided product development description only highlights the stages and is not detailed. All of the additional services, such as the Travelflex wallet, the Travelflex cheques, and Travelflex cards, not ready and are only expected to be developed in 1Q 2018 and will start to release only from 2Q 2018. The switch to a new algorithm in 4Q 2018 should be carefully planned as it will cause all of the existing coins to be replaced by the new ones and might have negative outcomes for the clients. The rationale behind this switch is not given. The given product line seems complicated and the convenience of use-cases is arguable: printed cheque, plastic card. Currently, they do not have agreements with global payment systems therefore the expansion might not be feasible. The main product focus is not clear. Travelflex aims to create a tool for interntational travel payments with built-in social network and issuance of physical cards and cheques. The rationale behind this approach cannot be seen and might significantly affect the product growth. What is more, Travelflex aims to expand its services globally but does not focus on any particular markets.

The exact fee level and calculation approach for travel cheques usage is not given in WP. Therefore, the commercial viability of the product is not clear. The team does not clarify the fee structure for the card. Again, the commercial viability of the product is not clear. Overall, the business model is not given in a structured way and cannot be understood from WP. The Hard Cap valuation of Travelflex is $30M and is 4X larger than the median US software companies seed stage post-money valuation. Currently, there are no agreements with exchanges to list TRF coins. Travelflex does not provide any financial forecasts or assumptions for their growth.

The CEO’s experience cannot be verified using Linkedin. According to his profile, he does not have any previous experience prior to Travelflex. Neither Head’s of Engineering nor VP’s of Finance pages - Bing Hayashi and Marcel Hoogslaf – do not exist on LinkedIn. Blockchain Developer’s experience cannot be verified using Linkedin because his page is not available there. What is more, it is not clear where each team member is located. That is why robust development of the project might be at risk.