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WeGold By WEGOGO ICO (WGD Token): Asian Travel Blockchain

Friday, June 22, 2018

What Is WeGold By WEGOGO?

WeGold is a revolutionary blockchain-driven platform that intends to disrupt the Asian tourism industry. Particularly, this project is tailored for the Chinese travelers. Though it is still in its early stages, this auspicious project has received plaudits from renowned authorities such as the Forbes Asia magazine for its outstanding potential.

Market Opportunity

The current tourism boom in Asia is dominated by Chinese travelers. Surprisingly, the numbers have been on a steady rise despite the economic slowdowns that have hit the Asian continent in recent times. Moreover, this growth is also associated with the economic development of South East Asian countries.

In 2014, China overtook the US as the leading producer of international tourists. With only 45 of the Chinese citizens having valid passports, it shows that the Chinese market has loads of untapped potential. According to projections, the number of Chinese tourists is expected to double by 2025 (it currently stands at 120 million).

The following are the driving factors behind the Asian travel boom:

  • Economic growth – China’s economic growth is phenomenal, and its citizens are enjoying the benefits of being a developed nation.
  • Digitization of China – globally, there is no country that rivals China’s 50% smartphone penetration rate.
  • Social media – most of smartphone owner interact through social media platforms, where they are likely to access tourism ads.


What Problems WeGold Seeks To Solve

Dominant Companies
Similar to other sectors, the tourism industry is controlled by a few corporate giants. These institutions often prioritize profits, leaving customers to languish in poor service. More, the real contributors are sidelined in crucial decision-making processes.

Poor Customer Service
As mentioned above, the primary objective of service providers is maximizing profits. As result, they always compromise on service delivery, leaving clients unsatisfied on most occasions. On the other hand, small-scale businesses, which typically offer the best experience, have no resources to complete with the trendsetters i.e. large businesses.

Marginalization
In the existing market structure, startups and SMEs are forced to accept the lowest fees and huge markups. Consequently, it is unsustainable for upcoming business to operate in the tourism sector.

Stolen Credit
The big boys often take advantage of the positive reviews posted by a tourist on social media and turn them into marketing campaigns without accrediting the content creators.

The WeGold Asian Travel Blockchain Solution

WeGold will create the WEGOGO Travel Token (WGD) to address the issues facing the Asian tourism industry. Using blockchain technology, WeGold intends to create a level trading environment for all tourism service providers, as opposed to the existent model where the winner takes all.

The WeGold travel ecosystem will consist of:
  • Pathfinders – these are the core entity of the entire ecosystem, as it is built around them. Pathfinders are travel hobbyists who identify new tourist locations across the world.
  • Traditional Aspirational Service Providers
  • WEGOGOERS – these are the tourists.
  • WeGold tokens – the ecosystem’s utility coin.
WeGold WGD Token ICO Details

The WeGold token (WGD) is an ERC20 complaint utility built on the Ethereum blockchain. It is also the native cryptocurrency of the WeGold ecosystem.

Token Sale
WeGold will issue a total of 3,400,000,000 WGD for sale during its ICO. The total supply of WGD is fixed at 10,000,000,000.

Parameters Of The ICO
  • Hard cap: $88 million
  • Token price: 1 ETH = 14,565 WGD (the price is variable)
  • Minimum purchase: 2ETH
  • Maximum purchase: unlimited
  • ICO start date: 15th May 2018
  • ICO end date: 30th June 2018.

Conclusion

The tourism industry in Asia, especially in the country of China, is currently experiencing high growth when compared with other countries. But in this industry, there is still an unfair system that only gives more profit to big companies but SMEs who engage in tourism services have not gained maximum profit, likewise, traveler has not got the service and interesting experience from his journey. And with the presence of Wegold from the Wegogo platform will make the industry fairer and provide more benefits to the traveler and also the SMEs involved in the tourism industry. One example of benefits provided is to provide incentives to pathfinders or people who have travel hobbies and love to discover new tourism places. And another interesting thing about this project is that they already have a working product, which is currently WEGOGO has a system that can already be used in WeChat, and on iOS and will soon be launched. Andriod displays more than 10 islands and 400 activities with over 5,000 transactions conducted on its beta.

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