(COLUMBUS, Ohio) – In the increasingly crowded field of cryptocurrencies, TravelCash (TCV) is appealing to coin enthusiasts and skeptics alike with an innovative two-pronged strategy: employ next-generation technology, but adhere to more traditional business models.
“The cryptocurrency market has been inundated with shiny, new coins that look really enticing, but if you dig just below the surface, there may not be much substance to them,” said Will Gozzard, creator of TravelCash. “We are different. We’re creating a voucher ecosystem that uses a next-generation transactional platform, backed by a US-based company whose leaders have extensive experience.”
As the name suggests, TravelCash will cater to the 7.5 trillion dollar-a-year travel industry, allowing users to pay for goods and services while traveling simply by using a virtual wallet on their phones.
“There are risks associated with carrying cash or credit cards while you travel,” said Jim Davidson, the Chief Technology Officer of TravelCash. “Your money – or worse – your identity can easily be stolen. But with TravelCash, your wallet is stored encrypted on the cloud and is only activated when you choose to do so.”
“Most of us remember travelers checks and how safe and convenient they were,” said Gozzard. “We’re like travelers checks built for the digital age.”
Unlike other coins, TravelCash does not rely on blockchain technology, which can be slow and cumbersome, or ERC-20 contracts. Not only can it be hard to find retailers who accept coins built on those platforms, but using Bitcoin, for example, can carry high transaction fees and take several days to process, especially with smaller amounts.
Because of that, using cryptocurrencies that rely blockchain or ERC-20 contracts for daily retail transactions can be impractical.
Instead, TravelCash is the world’s first cryptocurrency to trade exclusively using Voucher-Safe technology on the Ascension platform. Ascension uses location-agnostic servers available globally which could potentially process thousands of transactions per second.
And, unlike blockchain technology, the Ascension platform is scalable, so servers may be added in the future to meet increases in transactional demand.
Other advantages of TravelCash on the Ascension platform:
- All wallets remain protected offline until they are activated.
- All transactions are sent encrypted from wallet to wallet, so there is no possible exposure of personal or financial information.
- If users lose their phone or their computer is damaged for any reason, their wallets are fully recoverable.
- TravelCash charges retailers just 1% per transaction, saving retailers 50% to 70% over credit card fees.
Ascension has been fully operational and rigorously tested since 2013. “In fact, we’ve subjected the system to numerous stress tests, randomly inundating it with mock transactions,” said Kevin Wilkerson, the Chief Technology Officer and Co-Founder of Ascension. “It has not failed any of our stress tests.”
In addition to employing next-generation platform technology, the other prong of the TravelCash strategy is to back their voucher system with a US-based company led by a team with extensive experience in a wide range of industries.
Cumulatively, the leadership team of TravelCash has more than 150 years of experience in the travel industry, digital currency, finance and banking. Led by CEO Phil Nick, who spent more than 30 years in finance, the team also includes Greg Bernd, former Vice President of Sales for Expedia and Co-President of Classic Custom Vacations.
The company’s Chief Technology Officer, Jim Davidson, has been involved with digital currency since 1998, and is widely considered one of the world’s leading experts in the field. In addition to his role with TravelCash, Davidson also serves as an advisor to the Digital Cash Alliance and the Ascension Foundation.
TravelCash has even formed a government relations team to stay in front of any issues related to regulation. “I don’t know of any cryptocurrency that has the level of business experience or the technical knowledge as our leadership team,” said Gozzard. “That’s what makes us different.”
For more information visit travelcashinc.com.
Submit your interest for TravelCash here: http://icoas.travelcashinc.com/