Blockchain use case in travel field
Over recent years, blockchain technology has generated significant excitement within many industries and fields. This is largely because it has the potential to dramatically change the way in which information or data is stored and used, enhancing transparency and security, while also improving transactions. Here, we take a more detailed look at the various ways in which blockchain is being used, or is likely to be used, within the travel industry.
Blockchain technology can be extremely valuable for tracking the movements of luggage, especially when dealing with international travel. In many cases, a customer’s luggage changes hands multiple times over the course of their journey. Using a decentralised database makes sharing tracking data between companies a lot easier.
Customer Loyalty Schemes
Finally, many travel companies run customer loyalty schemes, in order to encourage return custom. Blockchain can also assist with these programmes, simplifying the process, allowing customers to more easily access information about their loyalty points, and allowing tokens to be distributed. It can also help to combat fraud in this area.
Trippki is an example of a customer loyalty reward system. Here, customers and hotel chains, or hospitality companies, are put in direct contact. Eligible customers are allocated ‘TRIP’ tokens for staying in a hotel and these tokens are permanently recorded in the blockchain, meaning they do not expire and can be used at any time.
Winding Tree: Displacing Online Booking Hubs
The major travel service aggregators that emerged across the internet like Expedia and Priceline have since come to dominate airfare bookings, but at a serious cost to both travelers and airlines. Bookings on these websites tend to include hefty fees and surcharges made possible by their largely unchallenged status as gatekeepers. Blockchain-based startup Winding Tree is already working to unseat these entrenched giants by challenging their role as industry middlemen.
With its LÍF token, Winding Tree seeks to connect travelers directly with service providers like airlines, hotels, and tour guides, minimizing associated fees for travelers all while reducing costs for service providers. The company’s clever use of smart contracts and the ERC827 protocol delivers better savings for all travel industry stakeholders while its nonprofit status assures there are no middlemen adding unnecessary fees to the booking process.
More examples at Blockchain use case in travel industry – LeewayHertz Blockchain Developers.