Tryvium (TYM)

Tryvium is a modern platform for booking hotels, apartments, B&B, and other accommodations. The technology incorporates the use of blockchain along with smart contracts systems to deliver real-world solutions to the industry challenges. Using Tryvium infrastructure, users can purchase tokens to make transactions and make reservations at the platform. The assets management can be done through a multi-currency systems entertaining different economic models; both crypto and fiat currencies.

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Updated: Mar 30, 2019

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Ticker

TYM

FoundedMalta

Registration countryMalta

Registration year2018

Office addressC3006 Balluta Terrace St Julian's Ramp, St Julian's STJ1062 Malta

What is Tryvium

Tryvium is a modern platform for booking hotels, apartments, B&B, and other accommodations. The technology incorporates the use of blockchain along with smart contracts systems to deliver real-world solutions to the industry challenges. Using Tryvium infrastructure, users can purchase tokens to make transactions and make reservations at the platform. The assets management can be done through a multi-currency systems entertaining different economic models; both crypto and fiat currencies.

The market penetration will begin from Europe where the users of the platform will make most contribution and product feedbacks. The service will encourage users to use and support other users of the platform. The platform enables better user-experience, well-developed travel plans, lower intermediary charges, and enhanced reliability. The platform eliminated redundant mediators hence giving low transactions and service costs. The service charges are merely 8% whereas the industry giants usually charge up to 30% of the total sales. This means Tryvium will be able to deliver better services to the users for reasonable prices.

The platform is soon set to launch the Trivium Gift Experience along with the several different services. The Gift Experience will enable you to gift your loved ones the pleasure to choose their favorite destination. It will be offering them hand-picked experiences all across Europe. The Gift box will be made available by the end of 2019.

Trivium infrastructure will deliver a decentralized network to create a cost-effective booking platform where both small-scale hotel owners and corporate giants can come ahead and create new business and tourism opportunities.

What is Tryvium

Tryvium is delivering practical solutions to the housing and hospitality market by implementing blockchain infrastructure in the system. This will be achieved with the help of a peer-to-peer networking system to rule out the intermediaries of the system. The decentralized infrastructure allows a direct host to client connection to facilitate the short-term property leasing market. A significant proportion of Online Travel Agencies are taken over by the industry giants Expedia and The Priceline Group. They also have their influence on the metasearch sites such as Trivago or Kayak. The organizations have acquired a significant portion of the client base and came ahead as the industry giants ruling the Wall Street.

The market is however concerned with increasing saturation in the OTA market. Booking.com had a market share of 39 percent in 2013, which has since grown further still and now there are reasons to believe 60 and 70 percent. Expedia and Hotels.com (an Expedia group) holding the remaining share of the online market. The market is in a desperate deficiency of a cost-effective, reliable alternative to the existing business model. The commissions charged by these OTAs can range from 15-25 percent of the value of total stay fare. Moreover, In the European Union nations VAT charges are added to these commissions rising them up to 18-33 percent. Booking.com further supplements these commissions by asking hotels to pay for preferential placing – typically a further 3 percent.