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travacoin.com

Founded Year

2016

Stage

Angel | Alive

About Travacoin

Travacoin offers a payment solution that enables airlines to compensate and refund passengers using a Blockchain based payment system.

Travacoin Headquarter Location

Dublin,

Ireland

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Expert Collections containing Travacoin

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Travacoin is included in 3 Expert Collections, including Blockchain.

B

Blockchain

3,939 items

Companies and startups in this collection leverage blockchain technology for crypto investing and trading, decentralized finance (DeFi), NFTs, and more.

T

Travel Technology (Travel Tech)

2,131 items

The travel tech collection includes companies offering tech-enabled services and products for tourists and travel players (hotels, airlines, airports, cruises, etc.). It excludes financial services and micro-mobility solutions.

F

Fintech

4,692 items

Track and capture company information and workflow.

Latest Travacoin News

Wipro Builds a Blockchain-Based Solution for Travacoin to Enable Digital Currency-Based Payments for the Airline Industry

May 23, 2019

The Solution AIMS to Fast-Track Payments During Travel Disruptions and Optimise Administrative Overheads Wipro Limited , a leading global information technology, consulting, and business process services company, announced that it has developed a blockchain-based payment solution for Travacoin, a company specializing in an eponymous digital payment solution. Travacoin is a digital payment system which enables airlines to refund and compensate passengers in a timely manner when a disruption occurs. Passengers will be notified of a delay or cancellation and refunded in this digital currency, which can be used to repurchase airline tickets, book hotels and avail other airport and travel related services. Passengers will benefit by way of a significant reduction in the waiting time for compensation. In addition, passengers can use Travacoins at retail stores in and around the airport and avail attractive discounts offered by retail partners. By compensating passengers with Travacoins, airlines will be able to reduce their administrative overheads and channel the savings to offer a better travel experience to fliers. A recent study conducted by FTI Consulting, and commissioned by Travacoin on the commercial feasibility of using digital tokens for refunds and compensation for flight delays indicates that Travacoins will save airlines between 20% and 40% of what they are currently paying passengers in cash and will also increase customer loyalty towards airlines through improved convenience during travel disruptions like airline delays. Brian Whelan , Chief Executive Officer of Travacoin said, “Travacoin is a unique solution to a common problem faced by the airlines industry today. With every delay, be it caused by a staff strike or a technology problem, comes an increasing number of claims from passengers. Airlines respond defensively, consequently losing customer loyalty as well as millions in hard currency along the way. This solution offers airlines a cost effective way to reconnect with their passengers in a positive way, turning adversity into opportunity. As we expand, the plan is to grow the solution to encompass other payment and settlement functions, turning Travacoin into a unique payment solution for the entire travel industry. Wipro’s deep domain know-how of the industry processes, blockchain expertise, and ability to rapidly co-innovate and scale-up the solution has been critical to our success.” Krishnakumar N Menon , Vice President – Service Transformation and Blockchain Theme Leader, Wipro Limited said, “We are encouraging blockchain innovation by actively engaging with firms focused on solving real-world business problems. It has been exciting to work with Travacoin to build an innovative industry-leading travel currency for the airline industry. The blockchain-based solution will help airlines optimize costs through the reduction of administrative overheads and facilitate quicker payments and settlements.” Wipro is a recognized leader in implementing blockchain technology for its clients, providing strategic advisory and consulting services combined with a deep portfolio of industry solutions. Wipro is committed to creating strong blockchain communities while developing talent for building extensive technology expertise across multiple leading blockchain platforms such as Hyperledger Fabric, Etherum, Quorum, Corda, Mutichain, Hyperledger Indy and Hyperledger Sawtooth. The company is also involved in a number of distributed ledger technology consortia and alliances including the Hyperledger project, the Ethereum Enterprise Alliance, the Energy Web Foundation and the Blockchain in Transport Alliance.

  • When was Travacoin founded?

    Travacoin was founded in 2016.

  • Where is Travacoin's headquarters?

    Travacoin's headquarters is located at Dublin.

  • What is Travacoin's latest funding round?

    Travacoin's latest funding round is Angel.

  • Who are the investors of Travacoin?

    Investors of Travacoin include Shashank Nigam.

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