How JetSet Works

Let’s take a deeper look into how we tie together our app, website, physical network, and blockchain.

JetSet is a blockchain powered end to end travel ecosystem that is solving two major problems in the $8 trillion travel industry: the high costs and fees associated with international cash withdrawal and purchases, and the highly fragmented trip booking process. We will be deploying a physical network of terminals called Hubs and Spokes that support 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.

When a traveler is stepping off a long flight in a foreign country, they often don’t have many tools readily available to them. Cell service is dependent upon their home country’s cell plan, and services directly available to them at the airport are often overpriced. As mentioned earlier, foreign currency is one of the biggest and costliest hurdles. With the JetSet platform, we can eliminate those immediate off-the-plane hurdles.

When a user signs up for a JetSet account, they deposit money into their account in several ways. They can use an ACH transfer, cryptocurrencies such as Bitcoin, Ethereum, or Stellar, or their credit and debit cards. ACH transfers tend to carry little to no fees but can take up to 5 days for the funds to appear in their wallet. PayPal transfers with a debit or credit card are instantaneous but often have fees associated with them. Coinbase transfers are immediate as well with minimal fees due to network or mining costs.

Once a traveler is in their country, they can obtain currency through two channels:

  1. From a Hub station at major transportation stations and city centers
  2. From a Vendor utilizing our Spoke Station

These options all give the traveler a great deal of flexibility when it comes to getting what they need on demand with a large footprint globally.

Users will be able to find locations in real-time that participate in the JetSet network as well as Hub and Spoke stations via the smartphone app. Hub stations will provide access to the JetSet network, allowing travelers to withdraw cash, book travel, and get news and weather updates giving travelers information without the need for cell service. Travelers can withdraw cash at their destination with only a 1% transaction fee.

Furthermore, should a traveler have any leftover physical fiat currency, they can deposit it back into a Hub station and that money is put back into their JetSet account which can then be sent back to their bank account.

All of this will happen on the JetSet blockchain, a publicly available and immutable ledger. Refunds, adjustments, and credits will all be available for users to see should the need arise, with the security of knowing each account is tied to a real person or business. In the travel world, trust is everything and we want to build a global community around that.

The Hub -

A reimagined ATM system

The Hub is our next generation proprietary automated teller machine, which will be deployed globally in major cities. We wanted to redesign the ATM from the ground up, making it more than just a single-purpose machine. It gives a traveler access to the entire JetSet ecosystem without the need for cell or Wi-Fi service.

The Hub will utilize state of the art security and will only be accessible by those with a JetSet account. A user simply walks up to the machine, activates it using a secure QR code or NFC on the screen of The Hub, and unlocks it using the biometrics or security features of their own phone.

The Hub will act as an information point for travelers, helping them know more about the city they’re in. It will provide up to the minute news and weather information, along with all the services of JetSet, as well as dispense and receive fiat currency.

When a traveler is done with their trip, they can simply visit a Hub, deposit their unused bills back into the machine, and their account is replenished accordingly.  When they return home or visit another country on their trip, they can put the funds back into their bank account or withdraw them in that country’s local currency respectively.

Whenever a traveler conducts a currency exchange transaction, they will always be shown how much they have saved compared to other financial institutions.

The Spoke -

A hybrid Point of Sale and ATM

We are concurrently developing a standalone hybrid POS/Hub station available for vendors who can act provide similar functionality to the Hub for travelers.

When a traveler is in a city with no Hub location, they can go to a vendor who has a Spoke Station. They can conduct transactions via this unit as a point of sale system. It allows the JetSet network to extend into remote locations while still providing travelers with ease of access.

For security purposes, the amount of fiat currency in the unit is limited to what a vendor is able to provide up front. It is pre-loaded by the Vendor and up to them how much they wish to give out allowing them to act as a small ATM.

JetSet’s success is predicated on the manufacturing and deployment of our physical Hub and Spoke terminals. The value proposition of JetSet is also based on the deployment of these terminals to help travelers receive the best currency exchange rate possible.

Travel rewards shouldn't just be for the few...

Every customer should have options about how they can spend their money and where. It's why we developed The Passport - an opt-in card that works just as well as mobile app payments, giving you flexibility about how you spend when using JetSet. Every traveler is automatically enrolled into JetSet Plus rewards, earning 1 point for every dollar (or euro, pound, 100 yen, etc.).

...they should be for everyone.

JetSet Luxe is an upgraded rewards program for those who spend at certain thresholds over time. It gives them access to better rewards redemptions and exclusive access to JetSet events across the world.

The Handheld POS -

The Ultimate Flexibility for Businesses

For large scale businesses that need the benefits of using JetSet but need a portable POS unit, our handlheld POS allows them to accept both mobile and Passport payments.  Al handheld units are tied directly to their JetSet account and the JetSet blockchain, giving them peace of mind when using our network and giving them the ultimate flexibility.