Photo - The JetSet Group Inc.
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The JetSet Group Inc.

A blockchain-powered travel company

USA, California
Market: Tourism, sport, Crypto currency
Stage of the project: Prototype or product is ready

Date of last change: 10/09/2019
Min investment
$  70.000
Total required
$ 350.000
Rating
equalizer 183 из 1000
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Idea

JetSet is utilizing blockchain technology to help you save money when you travel. Powered by our proprietary cryptocurrency, we're going over the tops of banks, currency exchanges, and traditional travel websites to make going on trips easier, safer, and cheaper for you.

Current Status

We have currently finished our first round of $150,000 completed with SAFE agreements from investors. We are currently in milestone 7 of our alpha and the prototypes of our Hub and Spoke devices are in production and scheduled to ship within 2 weeks.

We are also in the process of applying for licensing and registration from the Tokyo Metropolitan Government as well as working with the SEC within the United States.

Market

TOTAL ADDRESSABLE MARKET:
$5.3 trillion travel industry
1.4 billion travelers globally


SERVICEABLE ADDRESSABLE MARKET
200 million millennial aged travelers globally
35% increase in international travel


SERVICEABLE OBTAINABLE MARKET:
Millennial and Gen-Z travelers preferring cashless payment options
Cash-only businesses in tourist hotspots who do not want to pay processing fees

Problem or Opportunity

High fees from payment processors, government restrictions, and no consistent regulation across borders means a traveler bouncing between countries can face confusing and troublesome issues in the middle of their trip. But this also uncovers an opportunity: what if we were able to create a nearly no-fee, extremely low-cost ecosystem which helped match travelers with businesses directly related to their trip?

Furthermore, what if we have a physical location that could help travelers interact with those businesses when internet or cell service isn’t available? This is a part of the travel industry that is complex and underserved but can be solved by going over the top of traditional institutions and across international borders.

Additionally, as Millennial and Gen-Z travelers spend more time and money on trips they are doing so without the use of credit cards more and more and relying on fiat currency. The advent and spread of blockchain technology and utility tokens has revealed a chance to combine this fragmented landscape into one unified field, and as more money is spent on travel, the opportunity is only growing.

The explosion of blockchain based solutions across nearly every industry has ushered in a new era of innovation and disruption. Every potential way of spending money is being seen as a chance to implement blockchain and find an elegant resolution to problems plaguing consumers. Travel is no different, and given the risks associated when spending money while abroad, a public and transparent blockchain project which JetSet is developing is a well-rounded answer to those risks.

Solution (product or service)

JetSet is a global marketplace and ecosystem powered by the JETS token. It is an end to end network that supports the traveler in multiple ways, starting from booking flights and accommodations to helping them withdraw fiat currency in their destination country. We will be deploying a physical network of terminals called Hubs and Spokes that supports a traveler during their entire trip. We are more than just a place for travelers to book and buy things pre-trip – we support the traveler from the time they book their flight to well after they’ve returned home and are unpacking their bags.

Competitors

Our competitors can be divided into 4 buckets:

Financial institutions that issue or offer credit cards, debit cards, and currency exchange services. Examples: Bank of America, Chase, BBVA.

Currency Exchange companies that have kiosks at the airport or train station. Examples: ICE, Travelex, MoneyCorp, Western Union.

Other blockchain travel companies:
TravelChain, Pallycoin, Winding Tree

Existing Online Travel Agencies. Examples: Kayak, Orbitz, Hotels.com, TripAdvisor.

Advantages or differentiators

Our ability to be not only competitive but overtake other contenders in the travel space is apparent and will only continue to grow.

• A proprietary physical network that enhances our virtual token and app
• Low fee and no fee options for both travelers and vendors
• No licensing costs allowing us to scale globally with minimal overhead
• No price volatility in our token compared to other services that are pegged to Bitcoin
• Transparency into our ledger
• Low latency transactions and the ability to handle them incredibly fast on a global scale
• Not just focusing on one specific area of travel, but to support the traveler from end to end
• A rewards program for everyone

Business model

We will generate revenue through 3 main channels:

1.5% TRANSACTION FEE ON CASH WITHDRAWALS

ADVERTISING REVENUE VIA HUB STATIONS

BACKEND FOREX TRADING POSITIONS

Money will be spent on

This next round of investment will be focused on the legal fees that come with crypto regulation and licensing and registration. We will also be focusing on improving and developing the Hub and Spoke to make them faster and better, and bringing on more developers to focus on execution.

Offer for investor

We're offering a round of $350,000 at 10% which gives us a very comfortable and realistic valuation of $3.5mn. This can be justified through our strong IP as well as our current legal efforts to ensure we are operating above board in every country in which we deploy. Our focus is on the product and building the best ecosystem we can. This helps us with our legal and marketing efforts so we can continue to raise a 3rd Series A round.

Team or Management

Invention/Patent

We have prototyped and are manufacturing fully custom and proprietary next-generation ATM machines we call Hubs. These will be placed at airports, train stations, and major city centers. These will act as validators on our JetSet network to ensure security during all transaction verification events.

We have also developed a secondary unit called the Spoke, which will act as an extension of the JetSet network in smaller towns and cities, giving travelers the ability to access the JetSet network without a gap in coverage.

Photos

Photo 1 - The JetSet Group Inc.
Photo 2 - The JetSet Group Inc.

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address