Blockchain is a space where ideas, regardless of their size, grow at a rapid rate. The technology is attracting myriads of startup project into the space. Industries are realizing the potential of Blockchain and what it holds for the future. The latest industry to lay eyes on Blockchain has been the tourism sector.
It has been reported that over $22 billion was invested in tech startups alone in Q1 of 2018. Part of this investment includes travel related projects. The tourism industry is growing, it is estimated to reach $12 trillion by the end of 2020. Add Blockchain to the mix and you realize a tremendous potential growth.
Blockchain has already received approval in many areas. Some of the industries that have already implemented the technology include medicine, banking, finance, and healthcare. In the tourism trade, Blockchain’s objective is empowering tourism brands in growing their competitive advantages. The technology would help reduce fraud, eliminate intermediaries, personify travel experiences and thereby improve the quality of services offered.
A Blockchain – tourism partnership would be a match made in heaven. We explore some promising projects that could spring out of such a partnership.
A Direct Market For Rentals
Have you heard of the Bee Token? It is the first decentralized network to help you find temporary rental services without commissions and inflated prices.
The BeeNest platform is Ethereum based and connects tourists in need of housing directly to property owners. Like the original vision by Blockchain creators, the token eliminates third parties and commissions. And if both tourist and homeowner have Bee tokens, the transaction is free.
Operations are also transparent and available to platform users. In addition to this fact, a reputation score is included to evaluate ratings for tourist benefit.
No Intermediary Tourism
Winding tree is another decentralized network for service distribution. It based on the Ethereum network and aims at increasing the convenience and efficiency of buyer-seller interaction by using smart contracts.
It functions a bit similar to the Beenest platform. Winding tree eliminates intermediaries by creating a platform that directly links service sellers like travel agencies to service providers like airlines and hotels.
Suppliers post information about their services and buyers’ make purchases conveniently and efficiently. Participants can also monitor the effectiveness of their partners as well.
For the maintenance of the computing network, Winding tree only requests a small commission, otherwise it doesn’t charge its services.
Individual Traveler Experience
The MeetnGreetMe is a project targeting to improve journey experiences. The project’s main goal is to simplify and increase the convenience of travel services.
The project operates on a community unite basis where locals and travelers from over 200 cities around the world unite within an ecosystem.
The Universal Traveler Currency
Travel flex offers a solution to traveling costs coming from the many transactions during the journey. The service is set to be available for any sort of payment, even unrelated to travel.
In addition to lowering commissions the Travelflex application also ensures safe fund storage and supports communication through social networks. The currency will be based on the DAG algorithm which is much faster than Paypal’s, Bitcoin and even Ether.
Blockchain is a solution in an industry filled with exploitation and lack of transparency by the big players. Nevertheless, the situation is about to change for the better.