Blockchain for Travel
Emergence of blockchain applications and non-financial use cases is expanding everyday, one such promising usecase that is of particular interest to use is travel & tourism. This makes more sense since the company Founder has come from background working in Travel & Tourism industry for many years.
Problem to Solve
Our facility will reduce dependency on foreign banks and hence reduce the related, often excessive, fees. A typical speed of buying a foreign currency for traveller’s forex is 2.7% which then becomes 5% once the converted foreign currency is reversed back to original currency on return of travel. With BitVelocity, once live, we will have the infrastructure to reduce this cost to as low as 0.5%.
Massive Cost Reduction
After a successful launch of social cryptocurrency platform we intend to offer our cryptocurrency marketplace to travellers and tourists. Users like traders and investors will already benefit from the platform since holding BTC or XRP on the platform they can either pay direct in BTC or XRP. Eventually paying a little fraction of a cost to what a forex exchange would charge. On our platform, users can convert their cryptocurrency to local currency and then spend, again paying very little of a cost to what a fiat currency would charge. Converting to fiat, they will be able to spend using our digital app as if they were using a debit cards.
Future plan for travellers includes travel debit card, that will have debit cards with local currency (GBP, Euro, USD) hence eliminating the need to exchange to foreign currency completely.