Jan 25, 2018
TrustaBit is a state of the art software solution that will give airlines the opportunity to automatically issue vouchers to passengers when their flights are canceled or delayed. The total passenger rights market is estimated to be $3.3 billion annually. Since 2013, AirHelp has collected $85 million in total compensation from passengers who have had their flights delayed. AirHelp functions as a middleman; the passenger provides information about their flight to AirHelp, who then works directly with the airline to get compensation on the customer’s behalf. To date, a total of 1.3 million passengers have used this service and they have paid AirHelp a fee of 25% of the total amount collected. These numbers show that passengers are willing to pay extra for a trust worthy digital service that will give them what they are owed.
In the European Union they have established EU261 which states that airlines have to pay a compensation to the passenger in the range of $261- $626 depending on the time and distance of the flight. In the United States there is no specific law to help with delayed flights unless you have an international itinerary, then the Montreal Convention will apply. Many US carriers still choose to compensate passengers for the inconvenience of those delays and cancelations.
Your airline can increase its return on investment for passenger compensation by directly offering their customers a more efficient and convenient way to receive their vouchers. Our smart contracts will allow your customer service agents to focus more on “the tricky” situations while leaving the mundane and repetitive work to our system. Long waiting times, subpar customer service and excessive administrative procedures are among the current pain points for passengers who attempt to collect vouchers directly from an airline." When you implement our blockchain solution you can increase your customer loyalty and take advantage of this new market segment. According to a J.D. Power study, “When passengers choose an airline based on reputation or experience – as opposed to cost or schedule- satisfaction and brand loyalty increases.”
TrustaBit are building an ecosystem where a user who has an expiring voucher can trade that voucher for TABs. TABs are a proprietary "currency" of sorts which be used in a similar way to an online gift card or voucher, except that it is more elastic and secure. The days the user receives a voucher is when it holds the most value in TABs As the voucher ages it becomes less liquid.
Q4 2017 Idea Creation
Q1 2018 Token sale
Q2 2018 Development
Q3 2018 Business Development
Q4 2018 Growth Strategy
Attention. There is a risk that unverified members are not actually members of the team
This ecosystem looks promising because it’s introducing the blockchain’s wonderful possibilities to the airline business. You can refer to TrustaBit’s whitepaper to get a full overview of this crypto project and the technologies it’s using. If you’re satisfied with the business model, you should go ahead and join the ICO sale and buy some TAB tokens.
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