How it startedIt all started when a few friends were discussing the problems they faced while going to a country called Zimbabwe. As the friends were carrying cash while visiting the country (Zimbabwe’s ATM are not giving cash because of dearth of cash in the country), they were too afraid carry a bulk of cash in their pockets in a new country. There are mobile payment solutions in the country but nothing would work at the time you land in the country and you can be left stranded. This was the time, when founders thought the concept of Blance Coin- a coin for global travellers who can make their hotels and taxi bookings directly with the service providers’ whiles sitting at their home and become tension free with the ease of carrying much lesser cash in a remote country. On the top of it, the token users earn a handsome discount as they book the services directly with the service provider (with Zero Commissions) and service providers reach out to their targeted audience without the need of a middleman. All of this will happen on Blance Marketplace which will be powered with Decentralized BlanceBlockchain Token
How will Blance Token PerformBlance will be providing a separate portal and mobile app to enable global travellers to view the best hotels and resorts of their comfort, available taxis and restaurants of their choice. This portal will be called
www.blcmarketplace.com and Users of this portal will be able to directly book these services and will be paying for the services with the help of Blance utility token along with the traditional methods of payment like credit cards, debit cards and Paypal. There would be an inherent algorithm that will make conversion of fiat currency to Blance Utility tokens in case the payment is made with fiat and will credit the Blance Tokens in favor of the service providers. BLC Ledger which takes zero commission whenever the service providers transact with the users becomes an important feature in the system.
What is the current Issue• Global Travellers find it risky to take surplus cash in the visiting country’s denomination
• They have to pay exchange charges for currency conversions
• Hotels and Taxis have to be done majorly via middlemen
• Hotel, Taxi and Restaurant owners have to sell their products through middlemen
• Additional Charges have to borne both by the seller as well as the buyer
How Will Blance Solve the IssueBLANCE is the coin for global traveller. BLC will utilize decentralized ledger (the ledger which will be based on Ethereum platform) to keep the records of payment. The travellers will be using the tokens to pay for the transactions (without commissions) and hoteliers and agents will be earning the tokens out of the services they are rendering. Apart from saving on the commissions, BLC team will be making tie up with the hoteliers to offer discount to token holders in lieu of their advertisement on the decentralized booking portal (where token holders can make booking)
Why it is a win-win situation for all
By this system, the token holders do not have to pay commissions on foreign money conversions when they travel every time. The hoteliers and agents enhance their sales via a commission free network and reaching their target audience directly.
