From the use cases explored in Agistri, Greece, one key area came to light and that was how the travel industry is not innovative compared to other sectors. This implied a large, dormant opportunity for disruption.
Travel Club vs Travel Agents.
A travel club’s core focus is on providing benefits and services that are built into the membership. Conversely, travel agents need to upsell benefits and services to make a profit margin.
Air Miles vs DT-Token
Air miles are not that successful and are also limited in the use, discouraging people from redeeming them. On the other hand, the DT-Token (issued by the Drachmae travel Club) will be distributed at booking of travel and redeemed in the club. DT-Token can also be used outside of the club in much the same way as Bitcoin works as a decentralized currency. DT-Token therefore enables more efficient Opt In and Opt Out scenarios.
The Travel sector is currently leaning towards the travel club model, and consumers are trending towards member based clubs, as they are able to get better services and value for money. Drachmae Travel Club is opening up to 10,000 Founding Members, in which the membership is exchangeable or resellable. Members have OPT in and OPT out options, and the intrinsic value of the membership and its liquidity provides tremendous value. The marketplace for the memberships is being built on Blockchain technologies including NXT, Ethereum and Drachmae’s own DT-Chain, a Permission Based Blockchain.
Drachmae goal is to launch the first data driven, blockchain based network with DT-Chain. It will employ Permission based nodes, enabling security of data and the digital identity of its users. By using blockchain technology it will reduce overhead costs and provide beneficial services at lower costs to the members.
10,000 Founder memberships are created on the blockchain, enabling the members to trade the membership or gift them as tokenized assets. Due to the limitation on the amount of memberships the travel club will be truly private and unique. At a discounted package level of 18.5 GBP per month, and initial purchase price of 35 GBP, Founding members save 50% on average for the membership. This now enables the tokenized membership to gain value. Members also have the option to Opt Out if they do not pay the monthly subscription unless they want to use the members area.
This is the first attempt in the world to merge Blockchain, Digital Currency, Travel and Memberships into one solution.
Whilst the Travel Club industry is plagued with MLM or get-rich schemes, legitimate Travel Clubs can offer saving of up to 75% on hotels, 30% on cruises, and have built-in medical coverage and airline lounge access. As a price comparison, air lounges can cost 100 GBP to 350 GBP per year vs 1 year of the club subscription at 222 GBP (which also includes many other services).