Tryvium
Tryvium bridges all the gaps between tourists and hospitality services providers, saving them time, money and logistics.
Contents
Outline
Tryvium is the common name for the Tryvium Company LTD, Tryvium Platform, Tryvium (TYM) currency, Tryvium Mobile App and the broader Tryvium vendor base and community. Together they form the first decentralized OTA – Online Travel Agency – based on a state of the art blockchain technology.
TYM is the cryptocurrency used by Tryvium Apps and for all services provided by the Tryvium Company LTD. It was formed as an ERC20 token and will be distributed to the public through an ICO. In the post-ICO period TYM ERC20 token will be swapped to a Syscoin asset. Therefore it will inherit all of the traits and characteristics common to the SYS tokens, but most importantly it will enable creating business-grade smart contracts. At this point the Tryvium Company LTD will let the governance of the token transition into the public domain.
Tryvium Company LTD is a (for-profit) legal entity formed in Malta in 2018, which has started the Tryvium initiative and continues to spearhead its development. The company’s main purpose is to improve the booking industry via cryptocurrency adoption and blockchain registry system. Its revenue comes directly from its business model – being an OTA [1] – and is independent of TYM’s price fluctuations.
Tryvium Community is comprised of the vendors (hospitality services providers) which are using the Tryvium products, tourists using the Tryvium products and general TYM supporters and proponents such as developers and traders. When the TYM swap to the Syscoin asset is finished, the community will have full reign over the TYM governance and will be able to provide feedback on Tryvium products to the Tryvium Company LTD. However the community will have no say whatsoever in governance and other matters affecting the Tryvium Company LTD.
Tryvium Review
Tryvium is positioned in the tourism sector which by default is a border-transcending industry. But in the last decades it has become increasingly burdened by corporate conglomerates, stringent payment and tax regulations and travel visa requirements. Tryvium aims to significantly alleviate these problems by introducing free-market competition to counter the corporate conglomerates and by simplifying paperwork for satisfying tax laws and travel regulations. The main actor behind it is the Tryvium Company LTD which initiated the movement, however TYM currency is decentralized, under the governance of the community and thus not directly related to the Tryvium Company LTD.
Business model
The Tryvium Company LTD aims to be cheaper, faster and easier to use than the established booking providers. On top of that it provides bookkeeping, payment and regulation-compliance tools for hospitality services providers and their consumers.
The company profits from all purchases/sells made through the platform, by taking a flat 8% commission. In comparison, Tryvium’s competitors charge 25-30%. The unique component of the Tryvium Company LTD’s business model is that it offers the above mentioned tools as an additional incentive for adopting it. These tools save users time and trouble, making their travels safer and their business easier to manage. The letter translates into less overhead and thus lower expenses. In the final view that also means lower prices for tourists.
Like traditional OTAs’, Tryvium Company LTD business model also has very low overhead and minimal operating costs. Even the added tools will not require much more than periodic updates to stay up to date with the regulations the tools will cover.
The biggest continual expense OTAs have and which Tryvium Company LTD will have to match is marketing. Especially at the beginning Tryvium will have to invest into marketing infrastructure to level the field with existing OTAs. During this stage it will leverage the Tryvium Community and the broader cryptosphere to gain an edge.
Apps and Services
Tryvium Company LTD will launch a series of apps and platforms utilizing the TYM blockchain and using TYM as the native payment currency, its main focus is on:
Tryvium Platform is a Booking.com and Expedia competitor that matches customers seeking hospitality services with hospitality services providers. For the providers it acts as a marketing channel and for tourists it acts as a price catalogue, review database and a booking service.
Tryvium All-In-One Solution is an all-in-one business suite for hospitality services providers, to save them time and legal trouble by consolidating all their activities and their cash flow in a single place.
Tryvium Mobile App contains the Tryvium Platform And both of the Tryvium All-In-One solutions in a single mobile app, intended for all the clients to use it on the go.
The Tryvium Community and independent developers will also be able to create their own apps on the TYM blockchain.
Tryvium Roadmap
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