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Yatri Pay | November 11, 2022

YatriPay An Idea

and journey of a thousand miles

"The journey of a thousand miles begins with one step". With seven & half billion people on earth, millions of people start or finish their journeys everyday and this makes the Travel Industry huge. Prior COVID-19, estimated 339 million individuals were directly or indirectly employed by the Tourism industry, which translates to roughly every 1 in 10 jobs. Being an industry affecting such a large number of people, the Travel & Tourism sector has a lot of scope for technological innovations, making traveling convenient and affordable for the masses. We see Blockchain as one such technology with potential to make ground-breaking impacts in this sector. Yatripay project runs its own dedicated blockchain with Proof of Stake consensus mechanism. We have implemented a network which is fast but secure at same time, evenly distributed but does not lack integrity and on top of that it can be scaled to measure where it can be utilized by enterprises for both payment and retail applications.

The whole idea of the project revolves around YatriPay (YTP) the official digital currency of Yatripay Project. Currency conversion is one of the biggest hassles during traveling, we envision to omit it by integrating YTP as a mode of settlement at hotels, for cabs, flights and many others. Along with the real life use cases, the YTP will be listed at various exchanges and will be available to use via desktop, mobile and web applications. As YatriPay would be used for value transfer, security happens to be the utmost concern. YatriPay being proof of stake is automatically immune to all flaws of POW systems such as the 51% attack. This is complimented by the fact that YTP is totally decentralized by nature, anyone can spin a fullnode or a validator node and support the network. Travelling is more about exploring the blue dot we live on and in recent decades we have seen people advocating for greener solutions or products in every aspect of life. With this in focus YatriPay is crafted to be an energy efficient blockchain. Unlike POW miners with high electricity consumption, POS Block validators can use the regular source of electricity with their laptops or desktops. This resonates with YartiPay's vision of everyone's active participation in the network, making this network more strong, scalable and vast. YatriPay has a total finite supply of 13 billion YTP with a 35.56% pre-mine of about 4,623,250,000 coins. These funds will be used to support the Yatripay project in order to achieve the project's vision.

One of the main focuses of the project is to educate people about cryptocurrencies and blockchain, quenching their curiosity and spreading awareness. Yatripay Project is committed to run both online and offline sessions for this purpose where we will help new users to establish a knowledge base so they can utilize the maximum of the blockchain sphere. In order to make things more accessible Yatripay has developed its own web wallet with virtual staking feature. Users will be able to bypass the technical know-hows of staking as we have introduced the unique concept of "Subscription". For activating a staking package, users will have to buy a Subscription in order to lock coins for a fixed duration. Upon successful completion the staking rewards will be directly deposited to the respective addresses. Yatripay looks forward to creating a strong community for the project and hence have provided social media activities and referrals on the web platform where one can increase their ROI by enrolling in these tasks. The overall goal is to add more and more people to the project and create trust among the community as behind every successful crypto project there is always a strong community.

We live in a digital age where every next thing like shopping, banking, entertainment etc. is available to be consumed just with a smartphone and internet connection. When in comes to travel & tourism, people can book flights, accomodations, adventures and much more on internet but in terms of sightseeing we have nothing more than videos and images of these exotic destination over internet. With the introduction of the ground breaking invention called Metaverse we beleive infinite innovations can be done in the field of sightseeing. Yatripay has plans to launch a Metaspace exclusively for travel as these uses AR and VR technology for interaction and the experience is very close to real life. Yatripay wants to change the space of digital sightseeing from imgaes and videos to Augmented & Virtual Reality where people can explore various famous destinations and monuments virtually.

Tourism space has been there for a really long time but after the global pandemic COVID-19 it really needs a serious revival. Pandemic changed how the world operates, work from home became the new normal and people avoided stepping outside due to fear of catching infection. But as people were constantly missing the access to recreational tourism, after the first and second wave they flooded the travel destination in large numbers and this started the term 'Revenge Travel'. We firmly believe that once the situation is back to normal, the travel industry is going to see a boom as never before. Vision of the project is to plug Blockchain Technology in this ecosystem and make travel more accessible and affordable for people. As YatriPay Project commits itself to disrupt this industry with many positive ventures, it is attainable that the YTP would see consistent gains in value as well. Yatripay has already started its journey of thousand miles and would be making consistent developments in future to move closer to it's goal of revoltioizing the Tourism Sector.