Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
One of the selling points of travel booking websites when they were first established was to remove some of the overheads customers paid to traditional agencies, with their high street stores and the agents manning desks. But the online travel agents themselves have become powerful middlemen in their own right, consuming a growing share of revenues earned by hotels, according to the founder of UAE-based start-up Tratok Portal.
The company is using blockchain technology in an attempt to disrupt the $7.6 trillion global travel and tourism industry, which contributes almost 12 per cent of global gross domestic product but has suffered greatly due to Covid-19, according to the World Travel & Tourism Council.
“The global travel industry got too complacent and stopped thinking outside the box. Increased dependence on online travel agents and aggregators have resulted in diminished revenues,” says Mohammed Altajir, founder and project custodian of Tratok. “Stakeholders stopped looking at new revenue streams and ultimately paid the price. The onset of Covid-19 has necessitated disruption and increased the industry’s willingness to experiment with new booking models.”
One of the problems Tratok is attempting to solve is a lack of transparency in pricing, Mr Altajir says, with the total cost of a trip not usually displayed until the payment stage. Also, due to fluctuations in currencies, purchases in a non-local currency can make a big difference in the amount a consumer pays. Tratok is promoting the use of a token that cuts out the need to pay conversion fees and minimises the risk of exposure to currency fluctuations.
Increased dependence on traditional online travel agents and aggregators have resulted in diminished revenues
“By leveraging a blockchain ecosystem, you can cut out middlemen and reduce the cost of bookings, while at the same time allowing service providers to realise superior profits,” Mr Altajir says.
Online travel agencies currently take up to 30 per cent of hotel revenues and can charge “outlandish” membership fees, he adds.
“They will seize a fixed amount of your inventory, force rate parity and delay your trade receivables by 90 to 180 days,” Mr Altajir says. “All of this is not sustainable for an industry that has gone through challenges and needs to rebound. This is not only hurting service providers but also their employees, who are being asked to take a salary cut, unpaid leave or are being laid off.”
The Tratok token can be used to make bookings for travel and tourism services such as flights, travel, accommodation, car rentals, experiences and activities, Mr Altajir says. Customers can also purchase cruise liner packages from the portal in the first quarter of 2021, he adds.
In October, the company performed pilot tests for booking UAE hotels with tourist groups from Europe. The tourists reported average cost savings of 5.2 per cent on their booking, the hotels increased their margins by 28.2 per cent and received the payments made by customers instantly.
The marketplace ranks a user with a service provider based on their requirements and interests using machine learning algorithms. It levies a 1.5 per cent commission for every successful transaction. Tratok has nearly 2 million verified users and is currently onboarding 1.2 million rooms in 153 countries. Around 60 per cent of its nearly 2 million users are from Europe, while others are from markets in South-East Asia.
“Our original plan was to have 50,000 keys in the UAE by June 2021 and a further 200,000 in the eurozone and then expand from there,” Mr Altajir says. “By the end of September, we already had 1.2 million rooms. So, we have already smashed our targets. We have around 11,000 hotels in the ecosystem.”
The possibility for customer fraud is minimal on Tratok because everything is verified by blockchain, according to Mr Altajir. The portal will soon add a range of benefits to the ecosystem, such as free airport pick-ups for every fifth random booking or free beverages or a spa treatment for every 10th booking.
The company, which is registered in Dubai and is in the process of opening at the Abu Dhabi Global Market, employs 36 people, both directly and indirectly, and plans to hire more employees this year.
“With blockchain, you can perform tasks with far less resources,” Mr Altajir says. “Our team will concentrate on marketing. Initially, we want to target blockchain enthusiasts. There are currently 105 million such people in the world and they have access to more than $800 billion worth of liquid resources to deploy. We will also target Gen Z because they are good at adopting new technology.”
So far, the company has been privately funded by its founders, who have spent $2.9m on the concept, development, penetration testing and enhancing security features.
“This is what separates us from the rest of the industry. A lot of people capitalised on the cryptocurrency mania to exploit the public. Several blockchain start-ups raised money from the public through token sales, which are often illegal, and spent it on marketing,” Mr Altajir added.
The tokens they have issued have benefited from the surge in value that many cryptocurrencies have witnessed, increasing in value by almost 500 per cent last year, giving the amount of tokens in issue a nominal value of $2.8bn.
Q&A with Mohammed Altajir, founder and project custodian of Tratok Portal
What is the next big dream you are looking to make happen?
We have already implemented a dot-org portal for Tratok. We want to do more not-for-profit and company-sponsored subsidised travel for charitable causes. This includes, for instance, travel for medical treatment, taking lesser privileged children for training to a soccer camp, etc. We have already set up the framework for this.
What new skills have you learnt in the process of launching Tratok?
People management and patience.
Who is your role model?
Sheikh Rashid Bin Saeed Al Maktoum for what he did as a state architect. Some of his earlier initiatives such as the dredging of Dubai Creek and the Jebel Ali Port took a lot of vision and courage at the time. They all paid off.
Where do you see yourself after five years?
Ringing the bell to launch Tratok’s initial public offering.
If you could start all over again, what would you do differently?
I would have been less shy about approaching government entities and tourism boards here. They facilitate ease of doing business. Don’t be afraid to reach out to them if you have a good idea. They don’t merely preach the mandate to empower UAE-based enterprise, they practise it.
What already successful start-up do you wish you had started?
Rovio Entertainment, the creator of Angry Birds. It’s simple and unique yet brings a smile to so many people’s faces.
UAE currency: the story behind the money in your pockets
Specs%20
%3Cp%3E%3Cstrong%3EPower%20train%3A%20%3C%2Fstrong%3E4.0-litre%20twin-turbo%20V8%20and%20synchronous%20electric%20motor%3Cbr%3E%3Cstrong%3EMax%20power%3A%20%3C%2Fstrong%3E800hp%3Cbr%3E%3Cstrong%3EMax%20torque%3A%20%3C%2Fstrong%3E950Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3EEight-speed%20auto%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E25.7kWh%20lithium-ion%3Cbr%3E0-100km%2Fh%3A%203.4sec%3Cbr%3E0-200km%2Fh%3A%2011.4sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%20%3C%2Fstrong%3E312km%2Fh%3Cbr%3E%3Cstrong%3EMax%20electric-only%20range%3A%3C%2Fstrong%3E%2060km%20(claimed)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Q3%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1.2m%20(estimate)%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
ASHES FIXTURES
1st Test: Brisbane, Nov 23-27
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
RESULT
Manchester United 1 Brighton and Hove Albion 0
Man United: Dunk (66' og)
Man of the Match: Shane Duffy (Brighton)
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
The specs: 2018 Mazda CX-5
Price, base / as tested: Dh89,000 / Dh130,000
Engine: 2.5-litre four-cylinder
Power: 188hp @ 6,000rpm
Torque: 251Nm @ 4,000rpm
Transmission: Six-speed automatic
Fuel consumption, combined: 7.1L / 100km
A Long Way Home by Peter Carey
Faber & Faber
More from Rashmee Roshan Lall
The specs
Engine: 3.0-litre flat-six twin-turbocharged
Transmission: eight-speed PDK automatic
Power: 445bhp
Torque: 530Nm
Price: Dh474,600
On Sale: Now
UAE currency: the story behind the money in your pockets
The%20specs
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Dengue%20fever%20symptoms
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The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
UAE currency: the story behind the money in your pockets
Company%20profile
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Profile of Tarabut Gateway
Founder: Abdulla Almoayed
Based: UAE
Founded: 2017
Number of employees: 35
Sector: FinTech
Raised: $13 million
Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
AIDA%20RETURNS
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The specs: 2019 Chevrolet Bolt EV
Price, base: Dh138,000 (estimate)
Engine: 60kWh battery
Transmission: Single-speed Electronic Precision Shift
Power: 204hp
Torque: 360Nm
Range: 520km (claimed)
MATCH DETAILS
Barcelona 0
Slavia Prague 0
Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
KILLING OF QASSEM SULEIMANI
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
CHELSEA'S NEXT FIVE GAMES
Mar 10: Norwich(A)
Mar 13: Newcastle(H)
Mar 16: Lille(A)
Mar 19: Middlesbrough(A)
Apr 2: Brentford(H)
MATCH INFO
World Cup qualifier
Thailand 2 (Dangda 26', Panya 51')
UAE 1 (Mabkhout 45 2')
All%20We%20Imagine%20as%20Light
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EPayal%20Kapadia%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Kani%20Kusruti%2C%20Divya%20Prabha%2C%20Chhaya%20Kadam%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Company%C2%A0profile
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Manikarnika: The Queen of Jhansi
Director: Kangana Ranaut, Krish Jagarlamudi
Producer: Zee Studios, Kamal Jain
Cast: Kangana Ranaut, Ankita Lokhande, Danny Denzongpa, Atul Kulkarni
Rating: 2.5/5
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
The%C2%A0specs%20
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ELECTION%20RESULTS
%3Cp%3EMacron%E2%80%99s%20Ensemble%20group%20won%20245%20seats.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20second-largest%20group%20in%20parliament%20is%20Nupes%2C%20a%20leftist%20coalition%20led%20by%20Jean-Luc%20Melenchon%2C%20which%20gets%20131%20lawmakers.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20far-right%20National%20Rally%20fared%20much%20better%20than%20expected%20with%2089%20seats.%3C%2Fp%3E%0A%3Cp%3EThe%20centre-right%20Republicans%20and%20their%20allies%20took%2061.%3C%2Fp%3E%0A
WHAT IS GRAPHENE?
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics.
((Disclaimer))
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The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
RESULTS
Men
1 Marius Kipserem (KEN) 2:04:04
2 Abraham Kiptum (KEN) 2:04:16
3 Dejene Debela Gonfra (ETH) 2:07:06
4 Thomas Rono (KEN) 2:07:12
5 Stanley Biwott (KEN) 2:09:18
Women
1 Ababel Yeshaneh (ETH) 2:20:16
2 Eunice Chumba (BRN) 2:20:54
3 Gelete Burka (ETH) 2:24:07
4 Chaltu Tafa (ETH) 2:25:09
5 Caroline Kilel (KEN) 2:29:14
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
UAE currency: the story behind the money in your pockets
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
