TrustaBit is a Title III - Regulation Crowdfunding Campaign and is actively accepting investments.
$250.00 minimum investment

TrustaBit

Mobilizing the Traveling Consumer

Small OPO
Aliso Viejo, CA
Business to Business
Accepting International Investment
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Mobilizing the Traveling Consumer

Invest in TrustaBit

We’ve all been there. You are on your way to the airport - or maybe you’ve already arrived - and you learn that your flight has been delayed or even worse, canceled! The last thing you want to do is call an airline customer service line, hold for hours, then wait months for a flight credit. You feel frustrated, helpless and defeated. Why isn’t there a way to instantly receive a voucher that will allow you to continue your trip with ease?


Enter, TrustaBit.


TrustaBit plans to use blockchain technology to automatically issue vouchers to passengers when their flights are delayed, overbooked or canceled. Our goal is to mobilize the traveling consumer. 


The experience of traveling is often ruined by the hassle associated with recouping losses caused by weather delays, mechanical repairs or air traffic. This can leave passengers feeling frustrated and disillusioned with airlines – they feel like they have no control. Our mission is to alleviate and eventually, eliminate, this frustration.

Currently, and to the best of our knowledge, when flights are canceled or delayed, there is no seamless way for passengers to receive compensation. Airlines are at risk of losing valuable customers due to variables that are out of anyone’s control. 


That’s where TrustaBit steps in.


We plan to work directly with the airlines, so that the burden is removed from the traveler.  No more frustrating phone calls or waiting for a voucher to be mailed out. This creates happy customers and, ultimately, may increase brand loyalty. 


According to Douglas Quinby, Phocuswright Conference, Florida, November 9, 2017, the travel industry is a $1.2 Trillion industry.


Our goal is to onboard one tier-1 US airline by Q3 2019.


You may now be asking yourself “What’s in it for the airlines?” Because TrustaBit plans to work directly with airline partners, we believe we will be able to provide the maximum benefit for all parties involved.

Development Stage

We are currently in the seed phase.  A prototype of the web application is complete.  The blockchain network and token are currently pre-prototype.  The TAB protocol is currently in a pre-prototype MVP stage. This Offering is intended to help complete blockchain implementation.

Why Airlines Choose TrustaBit

Cost Reduction

Our system has the potential to minimize the number of calls related to issuing and redeeming flight vouchers. This should reduce the call center running costs associated with the claim filing process, allowing agents to focus on escalations.

Compliance

Under European law, regulation EU 261 states that passengers must be compensated for delays exceeding 2 hours. Our future protocol could automate compliance in relevant markets making the process seamless.

Customer Loyalty

Millennials are the most frequent travelers of any generation. They took an average of 7.4 business trips last year and are more likely to spend extra on flight upgrades and perks. Our proposed solution will likely appeal to millennial passengers, who are likely to choose an airline based on reputation and brand experience rather than cost or flight schedule. Additionally, 97% of millennials will share their experience on social media, which can act as free advertising for a brand.

"Airline customer loyalty is driven by service, not price."

The Offering


Investment: Membership Units & TAB Tokens


$1/Membership Unit│When you invest you are betting the company’s future equity value will exceed $7M.


Perks

TAB Tokens

The Offering includes 10 TAB Tokens, for every $1 invested.  In addition, the following bonuses will apply.


$400+ — If you invest $400-$999, you will receive a 5% Token Bonus.          

$1,000+ — If you invest $1,000-$4,999, you will receive a 10% Token Bonus.        

$5,000+ — If you invest $5,000-$9,999, you will receive a 20% Token Bonus. 

$10,000+ — If you invest $10,000 or more you will receive a 35% Token Bonus.


*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens.  See Offering Summary below for additional terms.


TAB Tokens

Description: After we launch our protocol, whenever there is a flight delay, the travelers on that flight would be automatically receiving TAB tokens. For every 45 minute delay the traveler would be issued a set amount of TAB's.  Looking forward, the next time you experienced a delayed flight, our future blockchain would assure that your TAB tokens are getting credited to your account.  


The TAB tokens could one day allow you to cash in your tokens at the airline for free flights and upgrades at a discount. Or you possibly could trade your tokens with other customers if you wanted to cash out directly. This way people who lacked a few tokens for their next free flight could easily buy additional tokens from other customers.


The right to tokens is contingent upon the successful development of such Tokens and to the extent applicable, the blockchain upon which they function. There is no guarantee that successful development will ever occur.


The TAB protocol is currently in pre-production phase and we are currently building out the back end infrastructure.  Once this phase is complete we expect to perform beta testing with our community.  Then ultimately rolling out the production version of the TAB protocol.


See the Offering Summary for more details related to the terms of the Tokens.

How TrustaBit Will Work

The Stats

According to the International Air Transport Association, on average, over 8 million people fly each day and 68% percent of passengers will remain loyal to an airline program that offers the most rewards. These high value passengers are of optimum importance to airlines and the travel industry as a whole. 


Furthermore, according to Brian Pearce, IATA, 27% of airline revenue comes from business class customers alone. Airlines invest significant time and money attracting and catering to high-value passengers. TrustaBit could help maintain these loyal passengers, allowing customer service agents to focus their time and attention on other pressing matters. 

Who We Are

Saritta Hines, CEO and Founder of TrustaBit, has over 10 years experience as a platform architect. This specialized expertise allows her to bring technical innovation and business teams together to transform the customer experience. Saritta, along with Co-Founder, Blair White, have assembled a dedicated team of engineers, developers, and advisors whose business acumen and technical expertise will help propel the company forward. 

A Letter From Our CEO

Dear Prospective Investors,


We started TrustaBit with one goal in mind – to mobilize the traveling consumer. Everyone loves to travel, but when things don’t go as planned, the recovery process can be long and arduous. Our mission is to solve this critical flaw within the airline industry and offer a global solution.


Our team of developers, engineers and marketing professionals are dedicated and working tirelessly to make our product available to you. We speak about TrustaBit often and on nearly every occasion, the responses are overwhelming. People often report having experienced flight delays or cancellations, with no compensation. Those that did receive compensation had to wait weeks or even months. Travelers all over the world are frustrated and feel defeated.


We plan to eliminate this situation and we invite you to be our partner on the journey. As an investor in TrustaBit, you will be at the forefront of an innovation the airline industry has never seen and critically needs.


We want to redirect the future of the industry, giving freedom and control back to you, the traveler. Let’s change the way we travel, through technology.


Sincerely,


Saritta Hines CEO, TrustaBit

Key Issues

Our Solution

When TrustaBit is implemented, users can be compensated immediately based on set business criteria. The voucher will be sent to the customer’s mobile device or email address when flights are delayed or canceled, eliminating the need to contact the airline call centers or complete a claim. We believe this will increase brand loyalty and secure future referrals.

TrustaBit can restore the travelers' emotional connection to an airline.

Features

Trust

Customers gain restored trust that your brand will solve issues quickly, easily and securely.

Smart Contracts

Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.  The implementation of these smart contracts could reduce the costs associated with call center operations.


Secure

TrustaBit intends to use Hyperledger Fabric, a private blockchain, which offers a shared, immutable digital ledger. This provides one secure source of truth that cannot be altered. 

How We're Different

Unlike other companies in the market, TrustaBit works directly with airlines to provide an integrated solution, rather than facilitating a “back and forth” conversation. Current passenger rights companies function as agents, charging 25% of the total compensation owed to the customer, just to process their claims. This process is still done manually, which leaves room for human error and further delays. We plan to use blockchain technology to automate the compensation process and Hyperledger Fabric to provide a secured, shared ledger that is updated and validated in real time. 

We plan to work directly with the airlines, while keeping customer satisfaction a top priority -- that's the TrustaBit difference.

How Your Company Can Benefit From TrustaBit

Moving Forward

TrustaBit’s mission is to change the way we travel through technology. Once we establish ourselves in the airline industry, we can also add hotel and rideshare companies onto the same blockchain. This will allow one voucher to be used with multiple vendors, so the consumer is not limited to one point of sale. It’s a win-win situation!


  • Automatically issue vouchers to customers, using smart contracts and blockchain technology.
  • Increase brand perception and loyalty with consumers.
  • Reduce customer service direct and indirect costs.
  • Lower churn rate while increasing revenue.
  • Generate custom emails based on consumer behavior through marketing automation.


Market Traction and Business Model

TrustaBit has already gained traction in the market by joining the International Air Transport Association (IATA) Strategic Partnership Program. IATA is the trade association for the world’s airlines, representing some 280 airlines or 83% of total air traffic. IATA helps formulate industry policy on critical aviation issues. This partnership, TrustaBit will be able to present the TAB protocol to key airline decision makers within IATA’s expansive network and forge deeper connections within the industry as part of an exclusive group of non-airline partners.


Our business model is straightforward. We charge an $8 transaction fee for the first 50,000 vouchers issued on our platform and a $5 transaction fee for each subsequent voucher. 


Funds raised through crowdfunding will be used for product development and marketing.

Invest in TrustaBit Today!

We’ve all experienced the frustration of a delayed or cancelled flight -- why should we let this experience continue to negatively impact our travel experience? The answer is, we absolutely should not. TrustaBit was created to solve this critical global issue within the airline industry and we invite you to join us in making our solution a reality.

 

We are in the seed phase of investing and need your support.  A prototype of the web application is complete and your investment will enable us to complete the blockchain implementation. We have 11 team members, who are working tirelessly to launch our product onto the market. Production would be expedited if this amazing team had the ability to focus on TrustaBit full-time and your support will help make this a possibility.

In the Press

Introducing Two Very Different Ways to Use Smart Contracts
March 2, 2018

Blockchain is the technology buzzword du jour. It powers the world’s cryptocurrencies by providing a novel and secure way to transfer and store transactional data – across a distributed network of nodes, instead of using a traditional central database.

Blockchain-based rewards token: Trustabit plans to make delayed flights a hell of a lot less stressful
February 5, 2018

The past few years have been embarrassingly rough for airlines as one PR disaster followed another. Their post-incident compensation schemes are not doing their client and public relations any favours either. Technology start-up Trustabit believes that blockchain technology is the solution to this

Blockchain: which road to travel?
May 1, 2018

Blockchain to revolutionise the complex travel ecosystem or blockchain technology to drive efficiencies in travel companies? Now that the buzz around what blockchain can deliver for travel has eased to a hum, many firms are faced with this choice.

Offering Summary

Maximum 107,000* shares of Membership Units ($107,000)

*Maximum subject to adjustment for bonus units. See 10% Bonus below

Minimum 10,000 shares of Membership Units ($10,000)


Company
TrustaBit LLC
 

Corporate Address
26896 Aliso Creek Rd Suite B-1007 Aliso Viejo, CA 92656
 

Description of Business
TrustaBit plans to use blockchain technology to issue compensation to passengers quickly, easily and securely when their flights are delayed.
 

Type of Security Offered
Membership Unit and TAB tokens
 
Purchase Price of Security Offered
$1.00
 

Minimum Investment Amount (per investor) 
$250












Perks*

For every $1 invested, the Offering includes 10 TAB Tokens.  In addition, the following bonuses will apply.


TAB Token Discount Rate:

$400+ — If you invest $400-$999, you will receive a 5% Token Bonus.          

$1,000+ — If you invest $1,000-$4,999, you will receive a 10% Token Bonus.        

$5,000+ — If you invest $5,000-$9,999, you will receive a 20% Token Bonus. 

$10,000+ — If you invest $10,000 or more you will receive a 35% Token Bonus.

*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens.


Terms of Tokens


TAB Tokens

Description:  Whenever there is a flight delay, the travelers on that flight will be automatically receiving TAB tokens. For every 45 minute delay the traveler will be issued a set amount of TAB's.  Looking forward, the next time you experience a delayed flight, you can be assured that your TAB tokens are getting credited to your account. You can cash in your tokens at the airline for free flights and upgrades at a discount. Or you trade your tokens with other customers if you want cash directly. This way people who lack a few tokens for their next free flight can easily buy additional tokens from other customers. The TAB tokens will be issued on the ERC20 blockchain.

The right to tokens is contingent upon the successful development of such Tokens and to the extent applicable, the blockchain upon which they function. There is no guarantee that successful development will ever occur.

The TAB protocol is currently in pre-production phase and we are currently building out the back end infrastructure.  Once this phase is complete we expect to perform beta testing with our community.  Then ultimately rolling out the production version of the TAB protocol.

  • Initial Blockchain: Ethereum
  • Migration to Alternative Blockchain: Hyperledger Fabric
  • Expected Network Launch date: 2018
  • Total amount of Tokens authorized for creation: 1,000,000,000
  • Amount of Tokens or Rights to Tokens already issued: 0
  • Will they be listed on Exchanges: Tokens intended to be tradable on registered ATS exchanges upon launch of the services.
    • if so, which: TBD

Other Material Terms:

  • Voting Rights: None
  • Restrictions on Transfer: 1 year from closing of Offering  
  • Dividends/Distributions: Upon discretion of the board
  • Redemption Rights: None
  • Other: N/A

The Company currently does not have a functional distributed ledger based business model nor a blockchain based token and there is no guarantee that such will be developed in the future. The promise of future tokens is contingent upon the successful development of such items.  There is no guarantee that successful development will ever occur.  The right to receive future tokens and the offering of future tokens is being offered as part of this offering exempt from registration under Regulation CF.  

Tax Advisory: Investors should consult their tax advisors with respect to the tax basis for each of the Membership Units and the Tokens, since they will trade independently.

Jurisdictions: No Investor who (i) resides, (ii) is located, (iii) has a place of business, or (iv) is conducting business (any of which makes the Investor a “Resident”) in the state of New York will be accepted in this offering.

The 10% Bonus for StartEngine Shareholders

Trustabit LLC will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.

StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% bonus on this offering within a 24-hour window of their campaign launch date.  This means you will receive a bonus for any units you purchase.  For example, if you buy 100 Membership Units at $1 / unit, you will receive 10 bonus units, meaning you'll own 110 shares for $100.   Fractional units will not be distributed and unit bonuses will be determined by rounding down to the nearest whole unit.

This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
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Cash And Cash Equivalents
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Accounts Receivable
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Short Term Debt
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Long Term Debt
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Revenues And Sales
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Costs Of Goods Sold
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Taxes Paid
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Net Income
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Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

TrustaBit + Microsoft: Transforming the Blockchain Industry with Positive Change

8 hours ago

We pinched ourselves. No, it wasn’t a dream.  

TrustaBit CEO, Saritta Hines was recently hand-picked by Microsoft to be featured in a series of ads highlighting various new Windows 10 Pro products that help the company run smoothly. A company like Microsoft could have selected any startup for this opportunity, yet we believe they saw something unique in TrustaBit and recognized the value in our project. We cannot think of another DApp (decentralized application) represented in Fortune 500 company advertisements. Can you? Dare we say, it’s a first! TrustaBit, along with Microsoft, looks forward to transforming the blockchain industry with positive change. The ads can be found on YouTube via the links below.

Windows 10 Pro | Shared Devices

Windows 10 Pro | Security 


Windows 10 Pro | Autopilot


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