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TRIPBIT Basic Review

Project Details


Ticker symbol: TBT

Project type:

Business services, Cryptocurrency, Internet, Smart Contract, Tourism, Travel, Online Bookings.

Extended company description: A distributed travel platform that combines the three main markets of the travel and tourism industry:

  • Flights
  • Hotels
  • Events

Company: TripBit Pty Ltd.



Explanation Video

ICO Details

Pre-Sale Start: 21.03.2018
Pre-Sale End: 24.04.2018
Pre-Sale Bonus: 35%

Public ICO start: 01.05.2018

Public ICO end: 03.07.2018

Token Sale duration: 9 weeks

Token type: ERC-20

Token emission: 700,000,000

Tokens available (Pre-Sale + Public ICO): 490,000,000

Investment goal:

TBT price: 1 ETH = 10,000 TBT

Accepted payment: ETH

Bounty: program is active

Token role: functional


Team (number of people): 9

Advisors and partners (number of people): 2, they are also team members: Jayden & Andy

GitHub: N/A

Project Information

A distributed travel platform that combines the three main markets of the travel and tourism industry:       

  • Flights
  • Hotels
  • Events

TripBit connects the tourism industry and blockchain technology in order to make payments and bookings. Users can make payments on the platform using traditional currencies as well as cryptocurrencies and tokens. In connection with the use of blockchain technology and tokens, the project mentions the following benefits for users:

The platform will offer the following services:

  • hotel reservation
  • purchase of flights
  • purchase of tickets for various events
  • possibility of resale and purchase in the secondary market

In the future, the project is planning to expand its range of services to:

  • reservation of tours and route services
  • airport transfer
  • car rental services


  • Jayden Takahashi - Blockchain Advisor
  • Andy Choy – Senior Analyst & Advisor


Investment attracted: $200,000 seed funds


The project is based on a travel platform which allows users to book accommodation, buy air tickets and tickets for various events.

Strengths of the project:

  • the markets selected by the project demonstrate high growth rates.
  • the presence of the tour operator as a partner, will allow them to establish processes within the platform.

Weaknesses of the project:

  • There is no MVP in public access (according to the roadmap, several platform modules should already function).
  • According to LinkedIn data, the team does not have much experience in the development of large projects, or specialized experience.

Market and Industry

According to Market Research Reports, the annual growth of the global tourism market will be about 30% by 2020.

According to the WP, the project is going to enter three markets related to tourism industry:

  1. Flights: according to the forecasts of Statista, passenger traffic is expected to increase by 6% in 2018.
  2. Hotels: analytical agencies anticipate that the hotel industry will demonstrate high growth rates, at an estimated level of 37% per year until 2020.
  3. Events: According to Statista’s forecasts, ticket sales for events will grow by 11% annually. [https://www.statista.com/topics/962/global-tourism/], [https://www.marketresearchreports.com/travel-leisure], [https://www.statista.com/statistics/193533/growth-of-global-air-traffic-passenger-demand/], [https://www.insidertradings.org/2017/12/05/hospitality-market-expected-to-reach-at-a-cagr-of-37-by-2020/], [https://www.statista.com/outlook/264/100/event-tickets/worldwide]

The research of the project team showed that the size of tourism industry amounted to $7,600 billion in 2016. In addition, this trend will continue and the industry will continue to grow at high rates.

With regard to the team’s research in the main areas, we consider it incorrect to include the aviation industry (the size of the industry is $2,700 billion) and the event industry (the size of the industry in the US is $115 billion) into tourism market. The aviation industry directly correlates to the amount of potential flight bookings/sales, whereas the events industry correlates to the amount of potential events tickets sales, which we believe makes it relevant to travel & tourism research.

The size of the hotel industry, which the team includes in the target market, is $700 billion.
Comments: the markets demonstrate high growth rates, therefore, there is a chance to occupy a niche in each of them.


In the course of our research, we have identified the following competitors:

  • Winding Tree – A decentralized travel platform.
  • Trip - A hotel booking platform.
  • Travelblock - A decentralized platform, which allows users to find tours, book hotels and purchase flights.

Summary: The key difference between TripBit and its competitors is the ability to pay for services with cryptocurrency, fiat, and tokens. However, their competitors already have a pool of strategic partnerships.

Engineering Features of the Project

TripBit will be built using blockchain and smart contracts.

The solution that the project provides consists of 2 parts:

  • All-in-one platform solution – A global platform for tourism.
  • Dapp P2P Marketplace - A marketplace for travelers, a secondary market for tourism products and services.

Technical Description

TripBit will include two platforms:

  1. the first one will allow users to book hotels, to purchase flights and tickets for events.

  2. the second one will allow users to exchange and to buy or resell tickets in the secondary market (Dapp, P2P, Marketplace).

Platforms will accept the following currencies:

  • TripBit Tokens (TBT)
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Fiat (USD, AUD, EUR, GBP, etc.)

Technical Roadmap

Based on the project’s data, the following modules should be available:

  • cryptocurrency
  • aviation
  • hotel / event management systems
  • real-time crypto-transaction systems

Since the R&D stages were held in 2017, the main platform should be ready by January 2019.

Comments: The presented technologies are already successfully applied in the market. The team do not see any working products in the market which allow users to pay with both cryptocurrencies and fiat for travel bookings, and the platforms which accept crypto-only do not seem to be in a consumer-ready state.

However, the purpose of introducing the platform’s own token is not entirely clear. There is a loyalty program and discounts for using the TBT token to purchase online travel bookings from our platform.
According to the roadmap, the R&D stages ended in 2017, however, details are not disclosed. It is also impossible to see the smart contract in an open repository. The smart contracts will be released soon.


We have analyzed the website and documentation of TRIPBIT for sufficiency and consistency with regard to making an investment decision.

Information about the project is contained in the Whitepaper and One Pager. The documentation is in both English and German. One Pager is also available in German. The project is described in sufficient detail in the Whitepaper. The main emphasis is made on the description of platform functionality and market analysis.

The website also provides information about the project, the team, the RoadMap, the ICO and frequently asked questions. The website is presented in English. The advantage of the website is that only the necessary information is presented. However, the FAQ section needs further elaboration, the answers do not provide enough information on the questions posed.

Summary: The documentation gives a comprehensive view of the project. The work process of the platform is described in sufficient detail. However, the technical aspect of the platform is not disclosed.


Tokens issued for sale: 70%

Public ICO start: May 01, 2018

Token type: ERC-20

Accepted payment: ETH

TBT price: 1 ETH = 10000 TBT

Crowdsale duration: 9 weeks, until July 03, 2018

TBT token is the platform currency. TBT can be used as a means of payment for services and goods on both TripBit and partner platforms.

Token limitation: 700,000,000

Advantages for token holders: the tokens are functional, which allows users either to sell them or to use them for accessing the platform services.

Dividends: no

Additional token emission: no

Escrow: N/A

The Token Sale is implemented in several stages:

Max goal: $40,000,000

Min goal: $4,000,000


Comments: Tokens will be distributed to participants’ wallets 7 days after the ICO.


A bounty program is indicated in the WP.

The project allocates 5,000,000 TBT to bounty. The program is open in the following areas:

Summary: The project has an extensive bounty-program. All program conditions are specified in the WP.

Token and Capital Distribution

Tokens and capital are distributed according to the following scheme:

Summary: Tokens do not affect the distribution of shares in the company. The incentive system is built in such way that it is more profitable to buy tokens earlier.

Development Plans

The RoadMap:

January 2019: implementing a large-scale marketing campaign, forming a business development strategy.

Summary: The team is planning an advertising campaign to scale and expand the sales funnel, but the details are not disclosed.

The main marketing activity is scheduled only from the beginning of 2019. This fact, combined with no MVP available, can negatively affect the popularity of the project and may lead to a drop in the price of the token in the secondary market.


The team consists of 9 people. Information about the main team members based on LinkedIn is given below:

  • George Rozos (LinkedIn) - CEO and founder. Advisor at National Australia Bank, founder and trader at Elemont FX, financial trader at Financial Markets Trader.
  • James Rozos (LinkedIn) - founder and technical director. Software developer at Campaign Monitor, NU Healthy Cafe, previously: developer at WiseTech Global.
  • Rohan Jain (LinkedIn) - developer at DAPP. Developer RPA (trainee) at Mindfields, sales assistant at Tea Too, previously: sales assistant at HOYTS Group.

The team has 6 more people.

Summary: all team members, except the chief analyst, indicated their affiliation with TripBit. The team is mostly from Australia. The team also includes the following specialists: DevOps coordinator, financier, blockchain consultant, software developer, marketer and chief analyst.


Information about the project is available in various popular services such as Twitter, Telegram, Medium, LinkedIn and Bitcointalk. The project has a Bounty program.

The team conducts an advertising campaign on social media, providing regular news updates on Twitter. The format of articles about the project shows that they are written mostly by the team members as a review or by information portals as an announcement of the next project staging the ICO.

Comments: The interest in the project is at a low level. The marketing campaign is mainly developed on Twitter. There is large interest in the project in the Telegram group, with over 10,000 members.

Traffic analysis of the TRIPBIT website based on Similarweb.com data showed the following:

Traffic source: [https://www.similarweb.com/website/tripbit.info]

Comments: direct link: 100, referrals: 0, search: 0, social media: 0, mail: 0

Traffic through search: 0

Referrals: 0

Summary: Based on the available data, it can be concluded that users are not interested in the project. The project team just started an advertising campaign. Currently, there are news updates on Twitter, there is a blog on Medium too. The team will be marketing their website when the pre-sale goes live to acquire leads and conversions. Marketing efforts prior to pre-sale have been focused on ICO Gold Listings, the Telegram group, and Twitter communities.


The developers may be contacted using the links below:







The information contained in the document is for informational purposes only. ICORating received monetary compensation in the amount of $9034 from the entity rated in this report for completing the ratings report. However, the entity rated in this report did not have the opportunity to approve this rating report before the report was published, nor did the rated entity have the opportunity to edit or remove this report once it was published. The views expressed in this document are solely those of the ICORating Team, based on data obtained from open access and information that developers provided to the team through Skype, email or other means of communication. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.