Basic Rating

3.6
  • TravelChain Project

  • TravelChain is decentralized blockchain-based platform which provides accessible and authentic smart-data.
  • 3.6

Rating Insights

Mapala’s TravelChain is a planned decentralized platform for data exchange and direct advertising in the travel market. Users will be rewarded for sharing travel and personal data such as transaction history, reviews, visited locations/events, accommodations, personal information, interests, search history, and more. In return, companies will receive via TravelChain all the data required to create a custom advert (including even GPS data). Users will be able to specify their minimum fee for viewing an ad.
TravelTokens will be used for trading in user information, advertising, account upgrades, and purchasing additional platform and travel services, as well as paying platform operation fees and applying for decision making or management positions. The main source of TravelChain income will be fees on system transactions and fixed issue to a community reserve fund. All the fees paid on the platform will be distributed 80% to referers and 20% to a development fund.

TravelChain is planned to be a public, open-source blockchain; public information will be publicly available whereas private information will be encrypted. Administration will be comprised of Technical Supervisors (Delegates), elected by TravelToken owners (and which receive compensation in TravelTokens for their work), and Economic Supervisors (the Committee). All TravelToken owners will have voting rights (regarding the Supervisors, distribution of token funds, and community issues), weighted by the amount of TravelTokens in their possession.

According to the development roadmap, a working net will be launched in February 2018.

Category Rating

Click any score to view its breakdown and category insights
3.4
Product

Product

According to the business plan: * Mapala currently has >2100 users who have been integrated into the TravelChain database from the beginning. * The TravelChain blockchain core technology is fully developed and its development on Graphene is nearing completion.* Travel market research has been finished, a first version of the decentralized tourism data ontology has been created with the involvement of NSU scientists, and the travel services marketing campaign is running.

Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

3.0
N/A
3 - Has growth potential.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

5.0
N/A
5 - Highly specialized, proprietary.
4.4
Use of Blockchain

Use of Blockchain

From the technical whitepaper: "TravelChain is a register of data containing public or private user information with these options: making deals on exchange of information, goods and services from user to user. TravelChain offers businesses to buy directly from users their private information and create targeted advertising according to their current needs and thereby reducing potential costs of advertising campaign for a client. Information is recorded in TravelChain according to ontology standards developed in cooperation with a working group of market participants and data analysts from Novosibirsk State University. Data structure is designed considering that this information shall be used by systems of machine learning and artificial intelligence to discover hidden demands of users."

Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

5.0
N/A
5 - Novel blockchain and service.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

5.0
N/A
5 - Real, tangible, utility-based value.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

5.0
N/A
5 - Fully decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.
3.8
Whitepaper

Whitepaper

There is a general whitepaper, a thorough technical whitepaper, and a graphically laid out but confusingly overloaded business plan.

Comprehensiveness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
3.6
Roadmap

Roadmap

In February 2018, TravelChain expects to launch the main network for developers, then begin preparing the data collection interface. Strategic partner integration and the formation of a developer community are expected in Q2 2018. After that, tokens will be distributed through ecosystem projects, teams, and active users for the purpose of recruiting a critical mass of participants.

Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasiblity

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

4.0
N/A
4 - Past a few hurdles.
3.2
Compliance

Compliance

On the face of it, the token has defined uses on a platform that is nearly operational. (And they have 2 legal advisors.) However, direct attention to legal concerns and risks is not given in the documentation. In the FAQ, there is the standard "You cannot take part in Token Sale if you are a citizen of the United States, the PRC or Singapore, or if you are a citizen or a resident of a country where the use of cryptocurrencies and tokens is restricted."

Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

5.0
N/A
5 - Foundational or varied use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

4.0
N/A
4 - Not as such, or compliance is assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

1.0
N/A
1 - None available.
3.0
Company and Team

Company and Team

The website lists 3 founders and 22 team members with a convincing range of job descriptions However, not all have LinkedIn profiles, and of those that do, many are sparse/skeletal, or in Russian, or show nothing remarkable. The website also lists 7 development advisors, 5 marketing advisors, and 2 legal advisors (who mostly have fleshed-out, extensive LinkedIn profiles).

Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

2.0
N/A
2 - Fragmented or inconclusive.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
3.6
Token Sale

Token Sale

"Hard cap is $10,000,000. $606,000 raised in pre-sale. Token price is $0.01519. Total supply is 2,100,000,000. Token distribution: Early founders & participants – 1.51%, Token PreSale - 17.69%, ICO – 33,00%, Team – 13.80%, Advisors – 2,00%, Bounty – 1.00%, Development Trust– 30,00%, Safety fund’s starting account – 1%. Fund distribution: Development – 50.3%, Operating expenses – 19.4%, Marketing – 21.7%, Developers community – 6.3%, Legal services – 1.9%. This, from the FAQ, is notable: ""Initially, we were going to issue it on a smart contract (ETH-20) basis on Ethereum and then transfer it to the TravelChain blockchain. But our development department coped with the prototype writing ahead of schedule, this allows us to run Token Sale on our own blockchain."" (And the testnet has launched.)"

Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

4.0
N/A
4 - Well defined and reasonable.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.

Product

According to the business plan: * Mapala currently has >2100 users who have been integrated into the TravelChain database from the beginning. * The TravelChain blockchain core technology is fully developed and its development on Graphene is nearing completion.* Travel market research has been finished, a first version of the decentralized tourism data ontology has been created with the involvement of NSU scientists, and the travel services marketing campaign is running.

Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

3.0
N/A
3 - Has growth potential.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

5.0
N/A
5 - Highly specialized, proprietary.

Use of Blockchain

From the technical whitepaper: "TravelChain is a register of data containing public or private user information with these options: making deals on exchange of information, goods and services from user to user. TravelChain offers businesses to buy directly from users their private information and create targeted advertising according to their current needs and thereby reducing potential costs of advertising campaign for a client. Information is recorded in TravelChain according to ontology standards developed in cooperation with a working group of market participants and data analysts from Novosibirsk State University. Data structure is designed considering that this information shall be used by systems of machine learning and artificial intelligence to discover hidden demands of users."

Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

5.0
N/A
5 - Novel blockchain and service.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

5.0
N/A
5 - Real, tangible, utility-based value.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

5.0
N/A
5 - Fully decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.

Whitepaper

There is a general whitepaper, a thorough technical whitepaper, and a graphically laid out but confusingly overloaded business plan.

Comprehensiveness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Roadmap

In February 2018, TravelChain expects to launch the main network for developers, then begin preparing the data collection interface. Strategic partner integration and the formation of a developer community are expected in Q2 2018. After that, tokens will be distributed through ecosystem projects, teams, and active users for the purpose of recruiting a critical mass of participants.

Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasiblity

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

4.0
N/A
4 - Past a few hurdles.

Compliance

On the face of it, the token has defined uses on a platform that is nearly operational. (And they have 2 legal advisors.) However, direct attention to legal concerns and risks is not given in the documentation. In the FAQ, there is the standard "You cannot take part in Token Sale if you are a citizen of the United States, the PRC or Singapore, or if you are a citizen or a resident of a country where the use of cryptocurrencies and tokens is restricted."

Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

5.0
N/A
5 - Foundational or varied use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

4.0
N/A
4 - Not as such, or compliance is assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

1.0
N/A
1 - None available.

Company and Team

The website lists 3 founders and 22 team members with a convincing range of job descriptions However, not all have LinkedIn profiles, and of those that do, many are sparse/skeletal, or in Russian, or show nothing remarkable. The website also lists 7 development advisors, 5 marketing advisors, and 2 legal advisors (who mostly have fleshed-out, extensive LinkedIn profiles).

Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

2.0
N/A
2 - Fragmented or inconclusive.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Token Sale

"Hard cap is $10,000,000. $606,000 raised in pre-sale. Token price is $0.01519. Total supply is 2,100,000,000. Token distribution: Early founders & participants – 1.51%, Token PreSale - 17.69%, ICO – 33,00%, Team – 13.80%, Advisors – 2,00%, Bounty – 1.00%, Development Trust– 30,00%, Safety fund’s starting account – 1%. Fund distribution: Development – 50.3%, Operating expenses – 19.4%, Marketing – 21.7%, Developers community – 6.3%, Legal services – 1.9%. This, from the FAQ, is notable: ""Initially, we were going to issue it on a smart contract (ETH-20) basis on Ethereum and then transfer it to the TravelChain blockchain. But our development department coped with the prototype writing ahead of schedule, this allows us to run Token Sale on our own blockchain."" (And the testnet has launched.)"

Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

4.0
N/A
4 - Well defined and reasonable.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.

Most Read Reviews