Exclusive Interview With The XcelTrip Founder who is all set to bring disruption.
1. What is XcelTrip?
XcelTrip is a Next-Gen Blockchain Powered Travel Platform which has been built to disrupt the trillion-dollar travel industry. It boasts of features which are set to democratize crypto use-cases. XcelTrip is one of the key verticals of XcelLab which is focused on encouraging larger adoptions of its own native token within the ecosystem to enable users to experience the best use of its major Crypto within the ecosystem.
XcelTrip allows you to book with crypto at more than 800,000 hotels and 150 airlines around the world on xceltrip.com. Our vision is to disrupt the trillion-dollar travel industry with our blockchain based platform built to deliver more power to the users and drive efficiencies across the key success factors.
XcelTrip App is downloadable on both iOS and Android devices. It is a crypto-payment enabled solution to help you book various holidays across the world using Bitcoin, Binance Coin, Ethereum, DDPT and our very own, XCELToken. We are constantly adding major cryptocurrency to this ecosystem to drive user growth. XcelTrip has 250,000 of userbase and few millions of dollar revenue a month in sales.
2. What advantages does the blockchain ecosystem bring specifically to your use-case over the traditional travel industries?
The major travel industry players are the GDS and OTA Aggregators, who are monopolizing the majority of the market share and making the most profits. The vision is to disrupt the industry by giving connectivity and access to travelers directly to the travel service providers – enabling a decentralized travel ecosystem.
Blockchain is best suited to create such a decentralized ecosystem, it will not just bring efficiency, but will also give the power back to travelers via encryption, user identity protection, avoid unwanted fee & charges such as currency conversion fee, service fee and taxes that currently increase your travel cost by 15 to 20 percent. Blockchain will also remove unwanted intermediaries through smart contracts and distributed network solutions.
We have developed XCELToken, which is poised to drive democratization and enterprise-level adoption of crypto in this trillion-dollar industry. Having our native token as the key driver will enable us to remove non-value adding services.
3. Can you tell us more about XCELToken and its adoption?
XCELToken is an ERC20 token on the Ethereum Blockchain platform. XCELToken is a versatile assets based utility token created to build, engage and foster large crypto community within the hospitality, payment, retail and gaming industries.
XCELToken is the primary utility token powering the XcelTrip ecosystem. XCELToken serves as the payment token for the services offered by XcelTrip.
Earn when you travel: This is one more innovative use-case of token and unique to the travel industry. XcelTrip will create a shared economy scenario, where XCELToken acts as a source of earning. Users can earn cashback or an incentive for adding inventory to our platform via the Independent Marketing Partner Program (visit xceltrip.com for more details).
Further being listed in various exchanges, traders can also earn from trading with XCELToken. Crypto asset value has grown exponentially over the years. With a ready use-case and a vast ecosystem, we believe XCELToken will increase in its value substantially, making it a great investment choice.
XCELToken has been adopted at an enterprise level across Payment Solution, Payment Gateway, Crypto Wallet and Retail Merchant POS(XcelPay). XCELToken is being used as a community loyalty and growth driver in Mobile gaming (Everest Adventure), Social Networking platform (Bitnaire) and Crypto Exchanges (CoinGeo).
4. You already support over 800,000 hotels and 150 Airlines around the world with Crypto. What are the plans for further expansion?
XcelTrip’s vision is to expand our services to all the aspects of the travel and hospitality industry. We are adding over 1 million new hotel inventory and more airlines in April 2019. XcelTrip is also building its own inventory listing properties across the globe and committed to have over 500,000 hotels and resorts within its own extranet by 2020. The year 2019 is going to be the exponential year of growth where more use-cases will be added including Restaurant Reservations, Transport Services, Entertainment, Tours and more. It doesn’t stop here, instead, it's the beginning of disruption!
5. What were the main challenges you encountered along the way?
The major challenges are related to the lack of regulatory in the blockchain and cryptocurrency industry overall, which leads to resistance in the vendors community to accept settlement in crypto.
Decentralization, we initially thought it would be faster, but as the ecosystem is maturing, we understand that this will be more progressive in nature, but not rapid. Keeping this in mind we have adopted and reworked our strategies.
6. What are the next steps on your journey?
Our objective is driving community development and penetration of crypto usage across various use-cases.
XCELToken is built to be a versatile utility token, which will power multiple use-cases across industries. XCELToken has been adopted at the enterprise level with XcelPay - a payment gateway, crypto wallet, and merchant POS solution; Everest Adventure - a mobile game; CoinGeo - a secure exchange; and Bitnaire - a network platform for crypto community.
We believe XCELToken use-cases will not just increase its value but also support a sustainable and scalable blockchain ecosystem.
7. How did you manage to achieve the growth you did and what are your plans for increasing this further?
XcelTrip is a self-funded and is in complete operational mode. We did not opt for shortcuts or raise funds through ICO. One of the key factors in our success is our passion for creating real-world use-cases. We have collaborated with top vendor partners, suppliers to source and add quality inventory that is comparable to the top OTAs around the world.
We have put “Crypto First,” which has helped us make a deeper connection with the crypto community around the world. Our work has been recognized at the Travel Daily Week in China, we have been a four-time platinum sponsor at the Blockchain Expo North America, London, Amsterdam and have been recognized as the best blockchain OTA at the Korea tourism summit.
XcelTrip has been featured in various global publications. This has helped us garner user trust and awareness around the world. Our agenda now is to build sustainable tie-ups with other crypto and blockchain platforms by offering them our use-case platform, blockchain collaboration and undertaking joint marketing activations. This we believe, will help us build a larger community for the crypto ecosystem.
8. What new verticals, do you believe will further enable rapid adoption of Crypto?
We believe the retail industry will write the next growth story. The shopper is now in the driving seat. Technology is not just empowering them to demand better product and accountability but also changing shopper behavior.
Retailers need to step their product, service, and technology to satisfy this new age consumer. E-commerce has ushered in the new era of interaction between retailer and users; physical value is replaced with digital value.
Cryptocurrency is the natural progression to this journey; users want to control their privacy, want to gain from crypto value growth and cut down unwanted, non-value adding intermediaries in the ecosystem.
Blockchain and cryptocurrency enthusiasts are, highly-invested in the successful adoption of cryptocurrencies in mainstream business activity. This emotional investment in their success will drive crypto usage in the retail economy.
9. Where do you see your solution fit within the larger crypto ecosystem?
The travel industry is a trillion-dollar industry, touching the lives of billions of people every day, there are numerous industries that are travel industry complimentary or dependent such as hospitality, food and beverage, transportation, entertainment and more.
XcelTrip is built with a vision to be a decentralized platform that will bring value adds and security to users. XCELToken being a utility token can be easily adopted across all such complimentary industries.
The rapid adoption of XCELToken and popularity of XcelTrip are a testimony of our universal appeal to both traditional and future digital ecosystem. Adding crypto and decentralization to the mix will only make it more user-friendly and sustainable.
10. How good is your team?
XcelTrip is the brainchild of Gyanendra Khadka, who is the Founder and CEO of XcelTrip. He is a well-known Bitcoin evangelist, an inspiring venture capitalist, a game changer for Blockchain start-ups in Silicon Valley and worldwide. As a passionate venture capitalist, Gyanendra has invested in more than 23 Blockchain and AI start-ups, while building an exciting ecosystem for budding entrepreneurs globally.
He has founded and served as the CEO for multi-million-dollar companies. He has over 15 years of successful career-spanning business management, strategy, innovation and investment management in the United States, Europe, and Asia. Khadka’s business operations span over 20 countries.
Further, XcelTrip is managed by seasoned domain experts with cumulative experience of over 100 years. XcelTrip has a strong blockchain development team in US & Asia. Our business development team are spread across US, Europe, Asia, and Africa.
11. How can one get their hands on XCELToken?
XcelTrip has launched Series A Public Sale up to the 31st March 2019 to raise USD $25M. The options offer a variety of choices inclusive of equity, tokens or bonuses. Tokens disbursed based on the investment options chosen are available for usage on the XcelTrip platform immediately, which has been the key point in gaining trust from the investors.
A great start to our Series of Funding has proven that our project is set to be one of the most sought after and in-demand project that will revolutionize the travel industry.
This is your chance to be part of the future of XcelTrip and share our success! Get your XCELToken during this period, and earn a 30% bonus token on all your purchases.
To participate in the XCELToken Public Sale visit www.XCELToken.com
12. Who are your competitors and what are your strengths to disrupt them? How do you plan to win users and vendor partners?
Our competitors are other traditional OTAs out there. Our strategy to disrupt them is to build on the following key points
Beyond this, our unique proposition of “don’t just spend, earn when you travel,” has garnered fascinating results. Users can contribute inventory to XcelTrip ecosystem and earn XCELToken. Users who hold XCELToken, further gain from its valuation growth, so your holiday booking will become inexpensive over a long-term period as compared to FIAT whose purchasing power diminishes over time.
13. Most vendors and merchants are conventional, and they have not yet adopted crypto? How are you planning to do the payment settlements to vendors?
XcelTrip despite being self-funded, have chosen the hard but the righteous way of building a business ecosystem. We are aware of the fact that the adoption of blockchain is progressive in nature. Hence, currently, XcelTrip is managing the back-end settlement of Crypto to FIAT to settle with our vendor partners, those who are still not comfortable using crypto.
Over the last year, we have gained a lot of ground in creating awareness for crypto use-cases. One of the key things working in our favor is XCELToken’s versatility and our ready use-cases. We have not approached vendors or users with just a concept or whitepaper, instead, we built an operational platform, that is adding value.
This combined with the fact that XCELToken is getting multiple enterprise level adoption across various platforms is helping us convince more users and vendor partners to accept a settlement in crypto.
A vendor and user on XcelTrip, gain not just by saving on their booking, but also gain access to new use-cases for their token, gain from token value appreciation and earning from contribution to the platform. The vendor and user community have very well appreciated this platter of benefits.