Building a Company on Blockchain
You may have heard a lot about Blockchain these days – the latest technology buzzword that is steadily gaining recognition.
If history has anything to say about it, it won’t be long before many of the major Fortune 500 companies—and new enterprises down the road—start modifying their business practices to harness the power of Blockchain as an integral part of their business plans.
All of them will be looking up to MyTravelBiz.
What is Blockchain?
Before delving into how MyTravelBiz, co-founded by Atif Kamran and Geraldine Aquino in 2017, became the first Direct Selling company with its marketing plan built on blockchain, creating a global community of entrepreneurs in the process, it is important to understand the method behind this innovative technology.
Blockchain is most often associated with Cryptocurrencies—“Crypto” defined as a digital representation of money. But it is only one use of blockchain technology. The power behind cryptocurrency is the strength of the blockchain itself, which lies in every step of the transaction and where every user has an identical copy of that transaction.
CB Insights, experts in private company data, uses a simple example to explain this peer-to-peer electronic cash system with fictional “Alice” and “Bob.” In CB Insights’ scenario, Alice gives Bob a physical arcade token and their “business” is done – nothing to prove, no need for a witness, and it’s easy to see who has what.
If this transaction took place digitally, using an intermediary like a bank or other financial institution, there are any number of ways that transaction could have run afoul along the way—a technology crash where the record was lost, altering of the record by Alice or Bob (or by an unscrupulous person at the bank), or perhaps a hacker who hijacked the funds midway.
Because blockchain technology works like a digital ledger where information is permanently stored across a network of computers and safely encoded in real time, it provides the optimum solution to the biggest problem in communication – that of placing trust in a third party for data security as a single authoritative entity. As a result, no more than one person can claim ownership of said funds at a time.
Another one of the beauties of conducting business through blockchain, is that it can be used to safely transfer more than just money. Think about the title to your vehicle, your Medical Power of Attorney, or your Last Will and Testament. Any of these documents can be safely encoded and sent to their intended destination or recipient through blockchain without fear of compromise, making the technology essentially invaluable.
Emerging as an Entrepreneur in the Current Blockchain Landscape
With MyTravelBiz (MTB), with Kamran, serving as President and Aquino, the company’s Chief Executive Officer, is already revolutionizing the travel industry by harnessing the power of blockchain technology.
What places MyTravelBiz at the technological forefront is that Kamran and Aquino have designed and built their company to operate with its marketing plan on blockchain, making them the first direct selling company in the world to do so.
“We saw early on how building every aspect of our company —from our marketing plan, to commission payout and staff salaries on blockchain would revolutionize the way companies do business,” said Kamran. “The Direct Selling industry has suffered from a lack of understanding for a variety of reasons over the years, but we are committed to doing everything we can to bring it into the now and make it work for today’s Entrepreneurs.”
That can only happen through innovation and transparency. Aquino and Kamran wanted to bring peace of mind to their Representatives and blockchain technology is a way to do that through “proof of ownership.” All commissions are registered on blockchain that can be checked and verified at any time.
“Most Direct Selling companies pay their Entrepreneurs on a monthly basis, but Atif and I were very deliberate and mindful about choosing to pay our Representatives every week,” explained Aquino. “Although operationally it’s more costly and time consuming, especially as we continue to grow at such an exponential pace, we are committed to helping our valued Representatives take charge of their financial destiny for themselves and their families. It makes it a lot harder to do that if they’re worried about how their efforts will balance, literally, at the end of the month. If for no other reason, using blockchain technology in this way to empower and inspire others makes this completely worth it.”
Their goal? To create 100 millionaires.
“Our mission at MyTravelBiz is to make travel accessible and convenient for everyone,” said Kamran. “By leveraging the power of blockchain technology we have been able to create life-changing opportunities for our entrepreneurs and the global community alike.”
The rapidly growing group of MTB Representatives are tapped into one of the largest and fastest-growing industries in the world – Travel. And through the company, whose patent-pending travel platform has more than 15 years of proven industry success, they are enjoying unlimited opportunity, financial rewards, and most importantly, joy.
This speaks to the integrity and core values Kamran and Aquino infuse into everything they do.
“Our Representatives are traveling toward total financial freedom and in turn, we help by arming them with the products and tools they need to achieve their goals,” said Aquino. “We’re continuously developing cutting-edge platforms and using blockchain technology to be at the forefront of innovation in the industry.”
Blockchain technology serves all segments of society
It’s important to note that those of us with relative means and strong, consistent access to the best technology are not the only beneficiaries of blockchain technology. According to Tom Chitty with CNBC, with Blockchain, the poorest in society may be the biggest winners.
“Along with speeding along the flow of the cash and having a secure place to keep records, the benefits for the poorest in society are enormous,” he said. “Take a farmer with a small plot of land which is then flooded. The paper copy of the deed to his land is washed away, resulting in the farmer having no proof of owning the land. Or perhaps he does have a digital copy on a government database, but it is erased, altered, or even destroyed in a political coup. If the farmer had filed that deed on a blockchain, he could have avoided all these problems.”
Kamran and Aquino assert that travel makes us stronger, opens our eyes and hearts to the global community, and helps us change the world. Blockchain technology is one of the tools they are using to accomplish this.
“For the consumer the blockchain future seems brighter with more security, less costs, and better experiences,” Chitty said.
For more information about MyTravelBiz (MTB), see the company website at https://corporate.mytravelbiz.com.