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Travelflex is a new cryptocurrency that is aiming to solve the scalability issues that other coins like Bitcoin are facing at the moment. By using a complete new DAG based algorithm Travelflex isn’t just a simple clone or a token.
The block speed, for example, is 1 block per second, compared to 1 block per 10 min for Bitcoin. It will be a real Proof-of-Work (POW) coin that can be mined and runs on its own network unlike 90% of all the others coins.
Don’t be confused by the name Travelflex since the coins can be used for almost anything payment related, not just traveling.
VISA can handle on average around 1,700 transactions per second (tps), call it a daily peak rate of 4,000 tps. PayPal, in contrast, handled around 10 million transactions per day for an average of 115 tps in late 2014. Today the Bitcoin network is restricted to a sustained rate of 7 tps due to the bitcoin protocol restricting block sizes to 1MB.
Recently with improvements, let’s imagine the blocksize doubled to 2MB, so the rate also doubled to 14 tps.
Bitcoin – 3 to 4 transactions per second for 1MB, 6 to 8 tps for 2MB (Cost= 2-10 USD+) for 1MB
Ethereum – 20 transactions per second (Cost= 0.01-0.1 USD+)
Paypal – 193 transactions per second average
Iota 500 to 800 transactions per second on average
Travelflex is a decentralized travel network and payment system. Travelflex provides customers and partners with super-fast transactions, worldwide. With our physical Travelflex card, you will be able to top up your card with TRF and use it as any other visa card or mastercard. We are currently working on our mobile application, which will contain a wallet, a friend list, chat function, Near Field Communication (NFC) to see other TRF users around you and ...Read more
The travel industry is one of the world’s largest industries, with steady growth every year. In 1995, about 520 million people travelled internationally. 20 years later, in 2015, this number had grown to 1,065 million people. The travel industry provides employment to more than 292 million people, which accounts for 10.2% of worldwide employment.
Travelers first paid with cash, then there were travelers cheques, and eventually there were payment cards to make financing your trip easier. With the development of better modes of transport and the invention of the airplane, reaching the other side of the world has become even easier.
Travelling has evolved in the past years, however, we at Travelflex believe we can take it to a higher level. Travelflex wants to connect the travel industry to blockchain, to make travel financially cheaper and more secure.
When you pay with Travelflex coins (TRF), you don’t have to worry about paying high fees for exchanging cash money, using the ATM or your credit card.
Your TRF can not be lost or stolen, unlike the cash money or your credit cards you are carrying to your destination. You will never have any problems with the ATM not accepting your debit card or even swallowing your card. Travelflex will come with its very own physical card that can be used at ATMs.
Furthermore, we want to install special Travelflex ATMs at major travel hubs, so you can print your TRF like travelers cheques and scan your cheques at our ATMs. The printed coins only work with your own pincode, so even if you lose your print-out, no worries, no one else can use your cheques.
Your credit card information can easily be stolen. When you hand in your credit card at the hotel, someone can easily copy your credit card information and use it for themselves at a later time. The information from the Travelflex card and Travelflex cheques can not be stolen, as they still need your own personal pincode to work.
When you make a payment to a hotel, TRF will work as an escrow. The coins will only be paid on the day of arrival, with your in-app approval. So, even if you arrive at your destination and it seems like the hotel does not exist or you are not receiving the service you were promised, you do not have to worry about losing money.
What’s more, mining TRF will be done through our mobile application. There will be no need for expensive hardware, CPUs, graphic cards or ASICs. Everyone with a mobile phone can mine TRF. The mobile application is a unique social application. It has a friendslist, an encrypted chat function and it can be linked to social media.
TRF does not just want to change the way you travel, we also care about changing the world. This is why we set up various wallets for charity. Every time you mine TRF, you will be able to donate some of the TRF to a good cause.
For more information on cryptocurrency, mining, blockchain and TRF check out our FAQ.
Peter has been actively involved in the cryptocurrency space virtually since its inception in 2009. He wisely decided to concentrate on Bitcoin mining in 2011 and has been very successful ever since. Peter knows about every aspect of the cryptocurrency world, from mining and trading, through to cryptocurrency holding. With his vast knowledge in cryptocurrency he has decided to set up his own coin. TRAVELFLEX.
Marcel had been a General Practitioner, before embarking in to finance. Prior to Travelflex, he has been responsible for managing every financial aspect of pharmaceutical companies around the world, ranging from the Netherlands and Thailand through to Italy. Right now, he is in charge of Travelflex’s finance and accounting operations.
Yosui studied Information Technology at Murdoch University, Australia. He is responsible for everything concerning blockchain. He tests, builds, installs, repairs and maintains our blockchain based programs.
Tineke is our graphic designer. She has traveled all around the world and has been involved in various creative projects and gigs worldwide. She has been actively involved in cryptocurrency since 2014 and is very thrilled to be a part of this project; combining creativity, traveling along with cryptocurrency.
Jim is our newest team member. He is an all-round Web Designer with extensive experience in e-Commerce solutions. He is maintaining and improving the Travelflex website and works on the development of all our related projects. Jim keeps everything up to date and assures the best usability for our visitors.
Being able to speak more than 3 languages, Pavel is in charge of the European and South American Travelflex pr-staff. Pavel oversees social media activity, along with managing and directing the internal and external communication of Travelflex.
Travelflex is a growing business with employees all around the world. We need driven people who love a good challenge. If you would like to apply, please send your information (motivation and CV in PDF or doc format) to [email protected]
If we think you could be a great asset to our team, we will get back to you. Right now we are still actively looking for the following
For general inquiries, wholesale inquiries or any other questions, you can email us at:[email protected]