rezqiano: TRAVELFLEX — Decentralized Social Travel Network & Payment System

Hello friend coinner wherever you are,i am rezqiano,my article this time will invite you to listen to a future project in blockchain technology world that is:

Website : https://travelflex.org/

TRAVELFLEX

What is it and why should I use it?

Travelflex is a new cryptocurrency that is aiming to solve the scalability issues that other coins like Bitcoin are facing at the moment. By using a complete new DAG based algorithm Travelflex isn’t just a simple clone or a token.
The block speed, for example, is 1 block per second, compared to 1 block per 10 min for Bitcoin. It will be a real Proof-of-Work (POW) coin that can be mined and runs on its own network unlike 90% of all the others coins.

Don’t be confused by the name Travelflex since the coins can be used for almost anything payment related, not just traveling.

Travelers first paid with cash, then there were travelers cheques, and eventually there were payment cards to make financing your trip easier. With the development of better modes of transport and the invention of the airplane, reaching the other side of the world has become even easier.
Travelling has evolved in the past years, however, we at Travelflex believe we can take it to a higher level. Travelflex wants to connect the travel industry to blockchain, to make travel financially cheaper and more secure.
When you pay with Travelflex coins (TRF), you don’t have to worry about paying high fees for exchanging cash money, using the ATM or your credit card.

Your TRF can not be lost or stolen, unlike the cash money or your credit cards you are carrying to your destination. You will never have any problems with the ATM not accepting your debit card or even swallowing your card. Travelflex will come with its very own physical card that can be used at every ATM.

Furthermore, we want to install special Travelflex ATMs at major travel hubs, so you can print your TRF like travelers cheques and scan your cheques at our ATMs. The printed coins only work with your own pincode, so even if you lose your print-out, no worries, no one else can use your cheques.

Your credit card information can easily be stolen. When you hand in your credit card at the hotel, someone can easily copy your credit card information and use it for themselves at a later time. The information from the Travelflex card and Travelflex cheques can not be stolen, as they still need your own personal pincode to work.

When you make a payment to a hotel, TRF will work as an escrow. The coins will only be paid on the day of arrival, with your in-app approval. So, even if you arrive at your destination and it seems like the hotel does not exist or you are not receiving the service you were promised, you do not have to worry about losing money.

What’s more, mining TRF will be done through our mobile application. There will be no need for expensive hardware, CPUs, graphic cards or ASICs. Everyone with a mobile phone can mine TRF. The mobile application is a unique social application. It has a friendlist, an encrypted chat function and it can be linked to social media.

Key Features of Travelflex are:

1 — Super-fast transactions worldwide and a proper block size (0.5 TRF per second).
2 — Physical Travelflex card (usable as a credit/ATM card).
3 — Mobile nodes to keep the network decentralized and faster.
4 — Direct, 100% secure and decentralized chat from wallet to wallet (peer to peer).
5 — Connect to your favorite social media and add your friends to your friendlist.
6 — Near Field Communication (NFC) to see who uses Travelflex around you.
7 — A true ASIC resistant decentralized mining Proof-of-Work (POW) coin. GPU mining.
8 — Escrow service over the network.
9 — Giving back to charities through mining.
10 — 24/7 support.
11 — Modern printable Travelflex cheques.

Join our Telegram conversation! HERE

Market Position

VISA can handle on average around 1,700 transactions per second (tps), call it a daily peak rate of 4,000 tps. PayPal, in contrast, handled around 10 million transactions per day for an average of 115 tps in late 2014. Today the Bitcoin network is restricted to a sustained rate of 7 tps due to the bitcoin protocol restricting block sizes to 1MB.

Recently with improvements, let’s imagine the blocksize doubled to 2MB, so the rate also doubled to 14 tps.

Bitcoin — 3 to 4 transactions per second for 1MB, 6 to 8 tps for 2MB (Cost= 2–10 USD+) for 1MB
Ethereum — 20 transactions per second (Cost= 0.01–0.1 USD+)
Paypal — 193 transactions per second average
Iota 500 to 800 transactions per second on average

ICO

An Initial Coin Offering (ICO) is a form of crowdfunding or fund raiser. During the ICO we are selling a percentage of the new cryptocurrency TRF. These coins will come with a compatible wallet. Through this ICO we are looking to receive the necessary funds to finance our project, pay salaries, cover marketing and legal matter expenses and invest in research and development, while you will receive TRF for a low price. Also, there will be a chance to win one of five island vacation packages or a luxurious, all-inclusive 112-days cruise trip around the world. Check below for more information on how to win a vacation.

The Initial Coin Offering (ICO) will start December 14th 2017 and end January 14th 2018, or until all coins are sold, whichever comes first. There will be 100,000,000 coins for sale. 95% of the coins will be sold to the public and 5% will go the bounty program, the founders will not keep any coins for themselves. The founders will follow a founders reward model based on Zcash. When mining has started, 90% of the newly created TRF will go to the miners, 2% will be donated to charities, and 8% will go to the founders. After 4 years, this construction will stop and the coins will go to the miner and to charities. This will mean the founders have more interest in supporting the product and they will have no ability to ‘pump-and-dump’. This should give you more trust in Travelflex. The founders hold NO pre-mined coins. One (1) Travelflex coin will have a price of $0.28.

To participate in the TRF ICO, you can pay with the following currencies: Bitcoin (BTC), Bitcoin Cash (BCH), DASH, Ethereum (ETH), Litecoin (LTC) or fiat currency. The exchange rate that will be used for paying in coins, will be the equivalent of the price in USD at that moment (rates will be taken from online resources, the actual exchange rate may differ from the exchange rate used due to the volatility of the cryptocurrencies). Coin will be transferred to buyers upon payment confirmation. The transfers will be done manual, it might take up to 3 weeks after the ICO to send everyone their coins. The purchased coins will not be active until the end of the ICO. There will be 15% extra coins offered as a bonus for purchases made within the first week of the start of the ICO.

Roadmap

Q4 2016
The initial idea popped up in the visionary mind of the founder. The creation of a new cryptocurrency and related secured services and dedicated to the travel industry, imposed itself as a disruptive and haunting idea

Q1 2017Two cryptocurrency enthusiasts joined the founder and began setting up a team behind the Travelflex concept

Q2 2017An initial team had been gathered for the project and the concept was being outlined. Experts started to develop a beta version of the mobile application on both Android and iOS platform. The chat function was being tested and updated until it succesfully worked

Q3 2017The decision to base the company in Hong Kong was made. To be in the heart of one of the most dynamic markets in Asia-Pacific. Legal matters and financial transactions are being secured. The Travelflex logo and trademark are registered

Q4 2017Travelflex is setting up for the Initial Coin Offering. Final testing of the beta version of the mobile application is completed. The live chat team is ready to answer all your questions

ICOWorldwide launching of the Travelflex Initial Coin Offering. There will be 95,000,000 coins for sale, 5,000,000 coins will go to the Travelflex Bounty program. Unsold coins will be burned with proof of burning

Q1 2018Mining the TRF coin starts. The development of Travelflex cheques and cards is still in progress. Travelflex will be listing TRF on all major exchanges for trading purposes

Q2 2018Printable cheques are available. Establishment of partnerships with leaders in the travel industries, to allow the Travelflex community to use their TRF in their transactions through booking services, airline companies and hotelchains

Q3 2018The Travelflex card is released and usable at ATMs. Loyalty programs are being developed. Partnerships with GDS industries will be initiated to allow more users to benefit from Travelflex services

Q4 2018The Travelflex card should be working as planned and will be accepted at more and more points

Q1 2019Travelflex continues to develop new relations with partners. This to give the coin more acceptance and use for the holders. The support team is still there for helping out when needed

Q2 2019The team will keep working on the existing applications. New ideas might have been born and in development. By this time, the cryptocurrency industry might become regulated and Travelflex is prepared with funds and lawyers if necessary to keep TRF 100% functional within the existing regulations. This holds the same for if special requirements are needed before this time