TravelFlex Review December 25, 2017 – Posted in: Reviews

The Main Idea

Travelflex is aiming to change the travel industry by improving the travel-related payments through the introduction of the advanced payment system and a social network. Travelflex is also giving a re-birth to the traveller’s cheques.

Project Description

Travelflex is a cryptocurrency that has advantages to other coins like Bitcoin, in terms of scalability, by using a DAG-based algorithm. This coin can be mined and has its own network. Although the initial purpose of the coin is to be used by frequent travellers, it can also be used as a payment for any goods and services. While the Bitcoin network can handle 3 to 4 transactions per second for 1 MB, Travelflex is able to process 1,200 to 1,400 transactions per second, and this number can even be increased when more users join the network. Travelflex coins can be mined with GPU and, in the nearest future, even with a mobile application. This app will also have social functions, including a chat, a friend list, and a feature of discovering other Travelflex users.

This is how Travelflex works:

  1. Buyer and seller agree to the common terms, including the price, shipping, etc.
  2. The buyer sends TRF coins to Travelflex and its Escrow services
  3. The seller, in his turn, sends the goods or meets up with the buyer.
  4. The buyer accepts or declines the goods or services.
  5. The TRF coins are transferred to the seller’s account.

Key Advantages

  • Extremely fast transactions and a proper block size (0.5 TRF per second)
  • Physical Travelflex card
  • Social network with a secure p2p chat and friend list
  • Near Field Communication (NFC)
  • Proof-of-Work (POW) coin
  • GPU mining (ASIC resistant)
  • Escrow service
  • Donations to charities
  • 24/7 support
  • Modern printable Travelflex cheques
  • Mobile nodes to keep the network decentralized and faster.

Funds Use

Travelflex is aiming to use the funds attracted during the ICO for the support of the mobile app, development of the new algorithm and physical cards, coverage of the legal and promotional issues, as well as wages. The chart below provides a detailed information on the funds’ distribution.

ICO Details

Token Name/Ticker Travelflex Coin (TRF)
Token Standard Proof of Work coins that can be mined
DAG algorithm
Total supply 163,000,000 TRF
Crowdfunding supply 95,000,000 TRF
Soft Cap $6,000,000
Hard Cap $28,000,000
Currencies accepted BTC, ETH, BCH, Dash, LTC, Fiat
Price  $0.28
Minimum amount for participation $50
Distribution time The purchased coins will be immediately active
ICO Dates 14 Dec 2017 – 12 Jan 2018

Core Team

Peter Hoogslag, CEO

Bing Hayashi, Head of Engineering

Marcel Hoogslag, VP of Finance

Alex Putzolu, Blockchain Developer

Yosui Kitahara, Core Developer

Andy Acataldi, Research & Development

Links

Website | Whitepaper | Facebook | Twitter | Explorer | Bitcointalk