Further Network Company Profile

Background

Overview

Further Network is a technology startup specializing in the travel and transportation sector, focusing on leveraging blockchain technology to enhance transaction processes within the industry. The company aims to streamline operations by enabling peer-to-peer (P2P) transactions for data management, settlement, and payment between airlines and their business partners.

Mission and Vision

Further Network's mission is to revolutionize the travel ecosystem by reducing operational costs and unlocking growth opportunities for stakeholders through the adoption of blockchain technology. Their vision is to create an Autonomous Smart Travel Ecosystem that facilitates seamless and efficient interactions among all participants in the travel industry.

Primary Area of Focus

The company's primary focus is on the airline vertical, aiming to tokenize assets and implement real-time payment systems using blockchain and digital currencies. This approach seeks to eliminate intermediaries and enhance the efficiency of transactions within the travel sector.

Industry Significance

By integrating blockchain technology into the travel industry, Further Network addresses longstanding challenges related to billing, settlement, and payment processes. Their solutions have the potential to significantly reduce operational costs and improve the overall efficiency of transactions among airlines, agencies, hotel wholesalers, and other travel product companies.

Key Strategic Focus

Core Objectives

Cost Reduction: Implement blockchain solutions to minimize operational expenses by eliminating intermediaries.

Growth Opportunities: Unlock new avenues for growth by offering customizable and efficient transaction processes.

Industry Transformation: Establish an Autonomous Smart Travel Ecosystem that redefines interactions within the travel industry.

Specific Areas of Specialization

Blockchain Integration: Develop and deploy blockchain-based platforms for secure and transparent transactions.

P2P Transactions: Facilitate direct transactions between airlines and business partners, enhancing efficiency and trust.

Asset Tokenization: Convert traditional assets into digital tokens to streamline processes and improve liquidity.

Key Technologies Utilized

Blockchain Technology: Utilized to create immutable and transparent records of transactions.

Digital Currencies: Implemented to enable real-time payments and settlements.

Smart Contracts: Employed to automate and enforce contractual agreements without the need for intermediaries.

Primary Markets Targeted

Airlines: To optimize their operations and financial transactions.

Travel Agencies: To enhance the efficiency of booking and payment processes.

Hotel Wholesalers: To streamline inventory management and distribution.

Tour Providers: To improve the management and sale of travel packages.

Financials and Funding

Funding History

As of the latest available information, Further Network has not publicly disclosed details regarding its funding history or total funds raised. The company remains privately held, and specific financial information is not readily accessible.

Recent Funding Rounds

There is no publicly available information about recent funding rounds or investors associated with Further Network.

Intended Utilization of Capital

While specific details are not disclosed, it is reasonable to infer that any capital raised would be allocated towards:

Technology Development: Enhancing blockchain platforms and integrating new features.

Market Expansion: Entering new geographical markets and establishing partnerships.

Operational Scaling: Increasing operational capacity to support a growing customer base.

Pipeline Development

Key Pipeline Candidates

Further Network's primary offering is the Autonomous Smart Travel Ecosystem, which includes:

FurtherPass: A digital health passport designed to streamline travel by securely managing health credentials.

Stages of Development

FurtherPass: Currently in the deployment phase, aiming to integrate with various travel platforms and health authorities.

Target Conditions

Health Credentials Management: Ensuring travelers' health information is accurately and securely managed.

Anticipated Milestones

Integration Partnerships: Collaborations with airlines, hotels, and health organizations to adopt FurtherPass.

Regulatory Approvals: Obtaining necessary certifications and approvals for health data management.

Technological Platform and Innovation

Proprietary Technologies

Blockchain-Based Platforms: Developed to facilitate secure and transparent transactions within the travel industry.

Smart Contracts: Automate and enforce agreements without the need for intermediaries.

Significant Scientific Methods

Asset Tokenization: Converting physical assets into digital tokens to enhance liquidity and streamline processes.

P2P Transaction Models: Designing systems that allow direct transactions between parties, reducing costs and increasing efficiency.

Leadership Team

Kadir Özgür Oğuz – Co-Founder & CEO

Professional Background: Lecturer in Aviation Management with experience at Turkish Airlines in various operational and management roles.

Key Contributions: Leads the strategic direction and overall operations of Further Network.

Erdem Üney – Co-Founder & CTO

Professional Background: Extensive experience in technology development, including roles in event organization and web application development.

Key Contributions: Oversees the technical development and R&D efforts of Further Network.

Cem Ersözlü – Co-Founder & CCO

Professional Background: Over 15 years of experience in UI/UX design and creative works across multiple countries.

Key Contributions: Manages customer relations and ensures the company's offerings meet market needs.

Eser Sevim – Co-Founder & Business Development Manager

Professional Background: Experience in trading platforms, financial training, and digital marketing.

Key Contributions: Drives business development and strategic partnerships for Further Network.

Gökhan İşci – Airline Analyst

Professional Background: Career in the travel industry with Turkish Airlines, focusing on operational analysis.

Key Contributions: Provides insights into airline operations to inform product development.

Yağmur Öngüner – Business Analyst

Professional Background: Background in customer relations and system integration.

Key Contributions: Analyzes business processes to optimize Further Network's offerings.

Armağan Can Ercan – Community Manager

Professional Background: Social media and community management experience.

Key Contributions: Engages with the community and manages the company's online presence.

Competitor Profile

Market Insights and Dynamics

The travel industry is undergoing significant digital transformation, with a growing emphasis on blockchain technology to enhance transaction efficiency and transparency. The market for blockchain solutions in travel is expanding, driven by the need for secure and efficient processes.

Competitor Analysis

Chain4Travel: Focuses on blockchain-based solutions for the travel industry, offering services that overlap with Further Network's offerings.

LockTrip: Provides a decentralized travel marketplace, aiming to reduce costs by eliminating intermediaries.

Triip: Offers a blockchain-based travel platform that connects travelers with local experiences.

Strategic Collaborations and Partnerships

Further Network has engaged in partnerships to enhance its offerings, including collaborations with IBM to transform payments in the MENA travel industry.

Operational Insights

Further Network differentiates itself through its comprehensive approach to blockchain integration, focusing on both B2B and B2C models, and its commitment to creating a fully integrated travel ecosystem.

Strategic Opportunities and Future Directions

The company plans to expand its blockchain solutions to other areas of the travel industry, including hotel and tour provider sectors, aiming to create a fully integrated set of systems with blockchain technology.