GOeureka is a travel tech company utilising blockchain technology to build a hotel booking platform. Our mission is to decentralise the hotel booking sector and deliver greater transparency by allowing hotels to directly connect with their customers. As a technology partner to hotels, GO aims to provide a dynamic digital experience to users and eradicate the high commission structures imposed by online travel agents. By reducing the financial commitments of hotels to third-party booking platforms, GO’s vision is to enable hotels to focus more resources on providing better intrinsic value and services to travellers around the globe.
Booking & Inventory Platform
The web application platform will host a booking platform for travellers and a hotel inventory system for hotels. Travellers will be able to search and book hotels. Hotels can update room inventory and prices directly or integrate with channel managers. A majority of hotels manage their inventories using channel managers as a single point of management, therefore GOeureka will provide necessary APIs (Application Programming Interface) for integration. GOeureka will also work directly with major channel managers to automate the integration process for hotels.
Rebooking Feature
Travellers will enjoy automatic post-booking discounts for their stays through GOeureka’s patent-pending rebooking feature. The GOeureka rebooking algorithm detects when a hotel rate drops, and automatically re-books an existing booking (qualified bookings that have not passed and are within valid cancellation policies) at the lower rate. Travellers will be notified of their discounted stay.
When hotels choose to drop their rates on the GOeureka platform, they will receive a summary report on the affected bookings and the total discounts provided by the rate cut. This will allow hotels to make true informed decisions that are beneficial to themselves and their guests.
GO store
The GO store is an in-app exchange for token holders to purchase GO credits using GO tokens. It is a safe and fast liquidation option for token holders to convert tokens into spendable fiat-value credits. Users enjoy discounted products and services on the GOeureka platform when purchasing with GO credits. GO credits are fiat-valued in-app credits that allows for instant transactions and off-chain settlement. Token holders will redeem GO credits according to the prevailing market rate at time of exchange. GOeureka will rely on data sources from various exchanges and number of custom oracles to retrieve the average token price on the market. Users will use the proxy wallet detailed below to exchange GO tokens for GO credits.
The Proxy Wallet
One key issue typically faced when designing a blockchain system for mass adoption is the handling of user wallets. While a hardware wallet like a Ledger Nano or a plug in like Metamask can expect users to use a recovery phrase, general users are unlikely to be happy with such a solution. We intend to use what is called a proxy wallet for all Ether transactions:
1. Users will undergo a proof of identity when signing up for GOeureka
2. Cryptographic Key Pairs are created on user devices and never leave their devices
3. A corresponding smart contract called a “proxy wallet” will be created on the blockchain
4. The user channels all transactions via the proxy wallet which is tied to the user’s identity
5. The proxy wallet allows the user to interact with all parts of the GOeureka system
6. On registration of a lost phone, GOeureka can, via a rigorous process, establish the identity of the account and assign that person’s new address to be the new controller of the proxy wallet.
The proxy wallet is already in use in several organisations.
Payment Processing
GOeureka aims to provide multiple payment methods that appeal to both traditional and crypto consumers. Consumers will have the option to transact using fiat currency, major cryptocurrencies, GO credits or loyalty points. Prices of goods and services will be displayed in fiat and the cryptocurrency of user’s choice. There are multiple available approaches for the development of GOeureka’s payment processing.
For the traditional checkout process where payment is made in fiat, GOeureka will implement a third-party payment gateway. This method sees payment being processed through a payment gateway (e.g. PayPal) that sends transaction details to a payment processing network (typically hosted by a merchant’s bank). Once processed, the processing network sends approved data to the credit card issuer to proceed with the funds transfer.
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