UZOMA is a socio-economic platform from Bali that has 4 (four) main ecosystems named tourism, entertainment, financial and blockchain-based marketplace. UZOMA uses the ethereum ERC20 platform named UZOMA token (UMA). Uzoma wants to create a large community and work mutually beneficial, by utilizing the progress of blockchain technology and the development of cryptocurrency that is getting better nowadays. The development of this technology makes people increasingly want to make interesting ideas and get the benefit in the communities involved. Every member who joins UZOMA community will get a special price for travelling and tourist accommodation in Bali, and will get an award in the form of UMA if they carry out all transactions and activities in the ecosystem interaction of the UZOMA user community through exchange of vouchers with UMA tokens. UZOMA optimizes if it can compete in the world of cryptocurrency because it has team that has experience in their fields. UZOMA was born not only to get instant profits, but also to be more focus on community growth and user’s comfort, so all members and aspects will get the benefit from UZOMA .
Current Problems of Travel Agencies
With the development of social media, online applications, travellers can now easily search and book their own hotels online. However, there are difficulties in payment methods with online service providers, especially with international travel. The table below is a description of the payment process when ordering through a website or online payment application:
OTA (Online Travel Agent): Priceline, Expedia, and Booking - everyone knows this internet travel business. It is a global hotel giant market with ten billion dollars of market capitalization. The market is targeted mainly at hotels. They connect hotels with clients, tourists, selling their property and charge a large fee of up to 30% per order. They are the main sales channel that is responsible for booking up to 70%.
Project’s Objectives
As technology advances are a necessity, the estimated block chain platform for online hotel bookings in Bali can eliminate intermediary costs and cover 20% of the hotel market, which will be double payment by 2030 it, is exceed over $ 1.1 trillion in volume and thus is so surpasses OTA that is the current main market holder.
Project Strength
OTA (Online Travel Agent): Priceline, Expedia, and Booking - everyone knows this internet travel business. It is a global hotel giant market with ten billion dollars of market capitalization. The market is targeted mainly at hotels. They connect hotels with clients, tourists, selling their property and charge a large fee of up to 30% per order. They are the main sales channel that is responsible for booking up to 70%.
Project’s Objectives
As technology advances are a necessity, the estimated block chain platform for online hotel bookings in Bali can eliminate intermediary costs and cover 20% of the hotel market, which will be double payment by 2030 it, is exceed over $ 1.1 trillion in volume and thus is so surpasses OTA that is the current main market holder.
Project Strength
UZOMA project has the following features and strengths:
1. The lowest transaction costs because there are no payments for servers, there are no fees for miners, platform owners and for exchanging fiat currencies,
2. Financial infrastructure, internal currency (UMA) and instruments reduce volatility and increase liquidity through the market maker smart-contract (MMSC),
3. A large client base and hotel,
4. Honest reviews, transparent rating systems of hotels and rooms rated by real travellers,
5. Non-staff hotels, Rapid spread of non-staff hotel (IoT) concepts that can cut hotel costs.
UZOMA 's Vision and Mission
UZOMA 's vision:
"Creating a decentralized tourism ecosystem where there is a good relationship between tourism service providers and people from around the world to create better price and services for tourism needs in Bali".
UZOMA 's mission:
1. The creation of mutually beneficial relationships between service providers, agents and tourists who come to Bali.
"Creating a decentralized tourism ecosystem where there is a good relationship between tourism service providers and people from around the world to create better price and services for tourism needs in Bali".
UZOMA 's mission:
1. The creation of mutually beneficial relationships between service providers, agents and tourists who come to Bali.
2. Providing opportunities for everyone to improve the quality of their lives and businesses through the usage of digital technology.
3. Take an active role in developing star-ups (new entrepreneurs) in the field of digital technology
UZOMA 'S MAIN GOALS
In the early stages of the project, most marketing activities must be directed to the market with the highest potential. To determine such a market, UZOMA Platform analyst has examined the latest country rank based on tourists' outbound and inbound tour expenditures, the countries which its citizens spend most of their money to visit Bali each year. According to the statistics, the leading countries in terms of numbers of residents who like traveling to Bali are China, South Korea, Russia, the US, Canada, Australia, and European countries: Nedherland, Germany, France, Britain and Italy.
These countries will be the first core group of UZOMA target market. The choice of this marketing strategy will give us the maximum number of potential users who are already in the initial stages of project realization, offering them a variety services like safety, comfortable and authentic trips. The second phase, we plan to expand platform services to other popular tourism destinations, such as Java, Lombok, Papua, and other tourism destinations that will be selected on travel market request later.
UZOMA Development Strategy
Law Metcalfe states that the influence of telecommunications networks is proportional to the square of the number of users that are connected from the system. Laws are often illustrated using the example of a fax machine: a single fax machine is useless, but the value of each fax machine increases with the number of fax machines on the network, because the total number of people with each user who might send and receive documents are increasing. Focusing on the supply side first drives demand, which in turn drives supply. When the network effect starts, there will be more users; it will be the more valuable value of our tokens. This rapid adoption then enshrines itself because both parties appreciate access to a larger user network coupled with an enhanced transaction experience
How Can Blockchain Benefit Tourists?
Blockchain is fully decentralized, autonomous, and open-source. This system is supported and controlled by all involved factors and cannot be manipulated to benefit one party than the other. With block chain system, consumers can interact directly with retailers, cut intermediaries, save costs and provide the most efficient user experience. The stable and secure nature of block chain provides a reliable payment platform and an encrypted method for data transfer. A unique private key identifies all interactions on the chain and each transaction is recorded in an irreversible manner. All of this is achieved without any support of the third management and it is safe from outside interference or interference.
Law Metcalfe states that the influence of telecommunications networks is proportional to the square of the number of users that are connected from the system. Laws are often illustrated using the example of a fax machine: a single fax machine is useless, but the value of each fax machine increases with the number of fax machines on the network, because the total number of people with each user who might send and receive documents are increasing. Focusing on the supply side first drives demand, which in turn drives supply. When the network effect starts, there will be more users; it will be the more valuable value of our tokens. This rapid adoption then enshrines itself because both parties appreciate access to a larger user network coupled with an enhanced transaction experience
How Can Blockchain Benefit Tourists?
Blockchain is fully decentralized, autonomous, and open-source. This system is supported and controlled by all involved factors and cannot be manipulated to benefit one party than the other. With block chain system, consumers can interact directly with retailers, cut intermediaries, save costs and provide the most efficient user experience. The stable and secure nature of block chain provides a reliable payment platform and an encrypted method for data transfer. A unique private key identifies all interactions on the chain and each transaction is recorded in an irreversible manner. All of this is achieved without any support of the third management and it is safe from outside interference or interference.
The cost of implementing block chain reservation system can be ignored when it compared with the cost of preparing and maintaining a website in general. Customers can easily connect to the block chain system only with mobile phones and immediately start interacting with branded systems that provide ongoing benefits from the first day. Low entry fees and simplicity of deployment mean block chain-based platforms are available for any organization or businesses, regardless of size or exposure to technology. This is exactly where Uzoma stepped in by simplifying and breaking down the hospitality industry and empowering tourists and service providers including accommodation providers.
How does Uzoma Use Blockchain Technology?
UZOMA uses blockchain technology in various ways including:
1. Payment, users pay with crypto UMA
2. Commissions paid to marketing personnel to promote the platform
3. Separate payment types serve as collateral for deposits, which can be useful
for car rent. Hash transactions are recorded in blockchain. However, all transaction details are stored centrally in the cloud.
1. Payment, users pay with crypto UMA
2. Commissions paid to marketing personnel to promote the platform
3. Separate payment types serve as collateral for deposits, which can be useful
for car rent. Hash transactions are recorded in blockchain. However, all transaction details are stored centrally in the cloud.
We believe, at this stage the using of blockhain technology and in particular, Ethereum blockchain keeps all transaction details impractical in terms of cost, speed and privacy protection. It is same like the storage lists to keep a list and availability of their calendar, as well as user and vendor profiles and reviews on the blockchain.
For More Information :
Website : https://uzoma.io/
Twitter : https://twitter.com/Uzomatoken
Facebook : https://www.facebook.com/Uzomaofficial
Telegram : https://t.me/joinchat/DdS0whJsinhRRd0Q734FLA
Authors :Tellysa
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