Aug 6, 2018
Along with operational and remittance problems, in a more global world the industry is expanding and direct & indirect economical input to the system is expected to be more than 13 Trillion USD in 2020. However, the speed of advancements in operational matters are not correlated with the acceleration of growth of the economical input. As Further Network, we would like to tackle the major issues by introducing Smart Travel Record (STR).
STR, is a smart token consisting of necessary data for flight, hotel or any other reservation or any travel product. STR will help solve the issues of settlement and payment using system’s own digital currency. Further will introduce an Autonomous Smart Travel Network where any airline, agency, hotel wholesaler or hotel itself would be able to create a smart contract for the sale of their asset. This contract would be available for one-time or would be recurring for certain periods which are pre-defined on the digital asset itself.
With the use of blockchain technologies under the hood, we would be able to control and provide necessary data for real-time settlement and payment services. On the other hand we will introduce new functionalities like dividing and/or exchanging the STR with other users in the system. STR would also bring more structured data and automation to the operational usability providing vendors will define their rule sets. These rule sets would be per certain periods of time like seasonal agreements or only for certain dates containing certain rules designed for designated customer.
STR would be available to any travel industry asset provider, from cruise ship operators to hotels, from airlines to car rental companies. Every step of your travel can be combined in one STR. With every asset defined in your STR, you would access and do operations consisting all or individual asset specifically. STR, will hold the key for the identity of the traveler and traveler’s itinerary. Allowing the holder of the STR to make changes on the itinerary, or use as a proof of key holder for the asset. With the same STR, a traveler can make a check-in for the flight and also for the destination hotel.
The ticket should be more than just a manifest of flight information. It must be customizable or even personalizable for traveler’s needs and preferences. With Further’s unique technologies travellers will be able to change, sell, add options and customize their tickets. Moreover it will not be a simple ticket anymore but Smart Travel Record, a Further technology.
Revolution starts here
STR, Smart Travel Record, a smart token, unique Further technology consisting of necessary data for flight, hotel or any other reservation or any other travel product. STR will help solve the issues of settlement and payment using Aton, our digital currency. STR would also bring more structured data and automation to the operational usability providing vendors will define their rule sets.
In it is core the structure is to establish a B2B environment including interactions with outside world. We are planning a closed, permissioned, scalable, and a consortium type blockchain. To establish this first we need to define some essentials like the nodes, consensus, validation, contracts in the system.
It is not possible for everyone to get into the system as a proper node. We will divide all the peers in the system depending on their capabilities. Nodes’ common functionality will be executing transactions. Asset issuing, rule defining nodes will be well-known nodes. Institutions with the conditions specified by the system will be taken as well-known nodes by authentication.
In the case of an asset being sold, transferred or in other words for all the lifetime actions, it is absolutely necessary for the asset issuer and the intermediary counterparts to take an active role. However, a certain number of other relevant third party counterparts will also be required to approve the integrity of the contract and provide consensus. For example, in an airline ticket sales with multiple flights, regardless of STR generation node, where the ticket is first sold, other airlines of the travel will be involved in validation of the generated STR. When the consensus is reached the smart contract will be executed.
Attention. There is a risk that unverified members are not actually members of the team
$18 082 617
Interesting idea, healthy sized team, challenge will be to build this and differentiate themselves from others out there.
Further Network positively disrupts airline and travel ecosystem with the blockchain (similar to other ICO tokens such as Mango Start Ups, Gamblica, Alttex, THEFANDOME, PAYSURA, KickCity, Amon, Dentix). It brings a paradigm shift to the entire business model with Smart Travel Record (STR), customizable airline ticket and peer-to-peer real time settlement and payment. Further Network aims to build and maintain an autonomous smart travel network where asset providers can create their own assets and rules to transfer the same using their own smart contract and get payment in real time using cryptocurrencies and blockchain. The company plans to begin with the tokenization of current assets to achieve fully-integrated systems with blockchain without any middleware. The company plans to introduce Smart Travel Record or STR which is a smart contract with details of travel products such as hotel and flight reservation. With the use of its own currency, STR, it will be able to solve the issues of settlement and payment. The Autonomous Smart Travel Network will allow the airlines and hotels to create smart contracts for the sale of their asset.
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