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Transforming the travel value chain with Blockchain

blockchain in travel industry

As you travel, so must your data

How blockchain technology works, how blockchain is changing the status quo of travel services, bookings, decentralized, payments, streamlined, identification, simplified, tracking, reimagined, loyalty, incentivized, how appinventiv is putting blockchain in travel industry to work.

As the world evolves, so does the idea of travel. Customer expectations for flawless travel experiences have never been higher—and catering to them consistently has never been more crucial. This is where blockchain technology is causing a major disruption in the marketplace. 

As the strain on the IT departments of travel companies increases amid the increasing digitization of services, blockchain in the travel industry has appeared as a knight in shining armor, helping market leaders retain their competitive edge and level the playing field for everyone else.

In this article, we will deep dive into how Blockchain technology is revolutionizing the travel industry, unlocking new avenues for enterprise growth and customer experience.

Learn how Blockchain is shaping the future of travel

Before we go ahead with the applications of blockchain technology in the travel industry, let’s begin with a basic understanding of the aspect of modern travel that encapsulates Blockchain’s need and use cases—information.

Data sharing is the backbone of the travel industry. Be it booking, check-ins, passenger preferences, luggage handling, updates, and lodging—any airline’s digital network is ever pulsating with information being exchanged throughout the framework. And there is no room for error.

With this kind of system comes security vulnerabilities and operational challenges, especially as you scale. And as the value and complexity of customer data increases, so does the sophistication of cyber threats and the approaches of malicious factors.

Is there a way to infuse the existing IT infrastructure of the travel enterprise with a solution that can close these bottlenecks?

The answer is yes, and it is using blockchain in the travel industry.

So, how can blockchain benefit the travel industry? To answer this question, we must understand the nuances of this innovation first.

How blockchain technology works

In simple terms, a blockchain can best be described as a distributed ledger technology (DLT) comprising a list of records (aka blocks) that keep expanding rapidly—and are linked together securely.

This ‘decentralized’ ledger stretches across a peer-to-peer network, which allows participants to carry out transactions without a central clearing authority in place. In addition to the speed that this system delivers, blockchain uses a number of mechanisms like advanced cryptography, cybersecurity frameworks, mathematical behavior models, and more, to implement an unprecedented level of security throughout the network.

This complex system of recording data and carrying out transactions makes it near-impossible for anyone to hack or cheat the system—and this is what makes the Blockchain technology ideal for turbocharging the digital services travel companies have to offer. This is how blockchain technology in the travel industry can become a weapon in the arsenal of forward-thinking leaders.

[Want to have more detailed insights into blockchain technology? Head on to this entrepreneur’s guide on blockchain and its uses .] 

So, the blockchain and travel industry are meeting—and this is a time for us to witness how innovative enterprises are making the most of it. Let’s get started on the ins and outs of blockchain in travel.

How blockchain is changing the status quo of travel services

The current travel industry is dominated by a small group of online travel agencies (OTAs), and there is a demand for more channels and partnerships that can create improved operational and monetary benefits for the company and the customer.

Enter, decentralized booking marketplaces. This use of blockchain technology in travel industry is breaking new ground for enterprises globally. These marketplaces give a lot of power to the hotels as well as customers and streamline communication by cutting out the middlemen—something that makes the process more cost-effective for everyone.

Blockchain technology in hotel and travel booking example that suits this application : Companies like Webjet have been increasing their reliance on blockchain technology in order to locate and eliminate real-time data problems, provide lower fares, and streamline communication between the vendor and the user. Several hotels around the world are also diving into the concept.

Appinventiv has also developed Empire App , a blockchain-powered mobile application that helps our customers solve the challenges of double booking, incorrect data, data security, cost issues, and more. For an overview of app development for booking and maximizing your profits while delivering a superior customer experience, you can check out this blog, ‘ A Travel Agent Guide on Travel Booking App Development Cost ’.

Appinventiv developed the Empire App, a blockchain-powered mobile application

A big application of Blockchain technology, just like in the Webjet example above, lies in its ability to make services most cost-effective for all the concerned parties.

Blockchain helps streamline and fast-track the settlements between hotels, travel agents, third-party vendors, and different aggregators. The centralized ledger speeds up transactions while keeping them more secure than ever before, helping companies combat fraud and data theft. This is a great use case of blockchain in the travel industry.

Travel blockchain use case in point : Travelport is using artificial intelligence (AI) and Blockchain to create a system that helps enterprises manage their corporate travel expenses by tracking, analyzing, and predicting spend accurately. This combination also allows the enterprise to deliver smoother payment experiences to customers and speed up operational processes.

eradicate slow processes and security gaps in your payment processes

Identification services are crucial for any travel company—and, needless to say, there is no room for error in the matter. This is where the blockchain and travel industry meet, and they meet well. Blockchain can securely store and quickly process passenger data to deliver lightning-fast check-ins that can reduce queues at counters and improve employee and consumer experiences at scale.

Blockchain in travel and tourism use case in point: Marriott has deployed blockchain, cryptography, and data privacy to create the Known Traveler Digital Identification program that eliminates security vulnerabilities that originate from all the information being present on one data lake and gives more control of the data to all parties.

Tracking, reimagined

Sharing tracking data across enterprises, alliances, and locations becomes easier, faster, and more secure with a decentralized database in place. This helps boost awareness, ensure timely deliveries, and even avoid bad incidents at different levels in the tracking process. This application of blockchain technology in travel industry has opened new avenues for many businesses like AXA.

A relevant example of blockchain technology in the tourism industry : AXA (the insurance leader) has launched Fizzy, a 100% automated and highly-secure platform that works on the Ethereum network to take tracking to a new level and provide insurance against incidents like flight delays.

Tokenized reward programs are the answer to unlocking brand loyalty in today’s chaotic marketplace where options are increasing every day for consumers. In such a system, the rewards can be tokenized into digital assets—and can even be exchanged across different platforms, giving customers more flexibility than ever before. This also gives customers the power to compare the true value of the offerings of different companies.

Travel blockchain use case in point : Singapore Airlines has deployed a loyalty program that uses Blockchain technology to convert one’s travel miles into payment units. These units can be used with the airline’s partner merchants to redeem a variety of goods and services. To know more about the blockchain use cases in the aviation industry, check out this article, How airlines can save millions with blockchain .  

The avant-graders are already unlocking new faucets of revenue and customer success by incorporating blockchain technology in travel industry and empowering their IT infrastructure. Now is the time the rest of the industry catches up to this new wave and surfs it all the way to brand excellence.

Unlock customer success with Blockchain solutions

Blockchain offers a ton of benefits like decentralization, immutability, and elevated security that can truly mean the dawn of a new age for travel companies. 

We at Appinventiv, an artificial intelligence app development company , offer Blockchain app development services that are designed to help you create a new business edge with the world of decentralized solutions. Whether you are looking to develop smart contracts or deal with cryptocurrencies or build new services or power your IT ecosystem with Ethereum—our team of experts has got you covered, just like they do some of the leading names in the marketplace. This is what makes us the best blockchain app development company out there in the eyes of our trusted clients, partners, and associates.

Some of our services that leverage blockchain in travel industry include:

  • Blockchain app consultation
  • MVP development
  • Smart contracts development
  • End-to-end DApp solutions
  • IEO & ICO services
  • Crypto exchange development
  • Custom blockchain solutions
  • Crypto wallet development
  • Hyperledger based solutions
  • Permissioned (private) blockchain
  • Crypto-token-development
  • NFT marketplace development

Q. What are the top benefits of blockchain for travel companies?

A. Blockchain has a wide array of transformative benefits for travel startups and enterprises. Some of them include trusted data coordination, a high level of data security, the ability to have a shared IT infrastructure, incentivization, tokenization, and more.

Q. How do I identify areas where I can use Blockchain to create a greater impact on my business?

A. The answer to this question depends on the kind of business you are in and the kind of infrastructure you have in place. We suggest getting in touch with our experts for a free consultation session to better understand the areas of your business that can benefit from Blockchain technology.

Q. What is distributed ledger and how can it help my business?

A. A distributed ledger replaces the traditional methodology of data accounting using a single, or ‘centralized’ system with a network of participants that are responsible for maintaining digital records. Blockchain technology uses cryptography-based algorithms to turbocharge a distributed ledger, elevating security, fast-tracking cooperation, and helping businesses reach new levels of data and process excellence.

Are you ready to take your business to the next level and reach new heights with the power of blockchain technology? Reach out to our experts to book a consultation and let us help you future-proof your business with the use of blockchain in the travel industry !

blockchain technology in travel industry

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5 Companies Using Blockchain to Change Travel

blockchain technology in travel industry

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.

blockchain technology in travel industry

Blockchain is emerging as a powerful technological force that promises to change the travel industry’s status quo. In fact, it's already being heralded as a game-changer for many different industries. Remember that blockchain is a type of database that is commonly used in the cryptocurrency market wherein data is stored in blocks and then chained together.

Services that are based on blockchain are already isolating major pain points in a very fragmented industry— travel and tourism . It should come as no surprise that this sector is broken up into different parts. Think flights, hotels, car rentals, among other factors. So how can blockchain help? These services are able to ease hurdles in the industry by resolving common challenges and streamlining processes while building a more equitable ecosystem that shuns gatekeepers. 

The technology’s impact is more than hypothetical, though, with several businesses disrupting several nodes on the industry’s supply chain . The following five companies are improving key aspects of the travel ecosystem and establishing blockchain’s place in the industry.  

Key Takeaways

  • Winding Tree aims to connect travelers with service providers while minimizing fees and costs for both.
  • Webjet is an online travel agency that tracks and alerts travelers, hotels, and agents about booking inaccuracies.
  • Sandblock's blockchain technology helps users maximize points collected through loyalty programs.
  • The Known Traveler Digital Identity System is a joint platform developed by Accenture and the World Economic Forum that collects and hosts information from frequent international travelers.
  • TravelChain allows users to collect and monetize travel data, and receive tokens as compensation for sharing with travel service providers.

1. Winding Tree: Displacing Online Booking Hubs

Major travel service aggregators like Expedia and Priceline dominate airfare bookings. But this comes at a serious cost to both travelers and airlines. Booking through these websites often includes hefty fees and surcharges made possible by their largely unchallenged status as gatekeepers. Blockchain-based startup Winding Tree works to unseat these entrenched giants by challenging their role as industry middlemen.

Winding Tree is a private company based in Switzerland. Founded in 2017, it reaches numerous parts of the travel and tourism industry, including hotels and airfare. The company uses "blockchain technology to enable a fair and competitive travel distribution market."

The company seeks to connect travelers directly with service providers like airlines, hotels, and tour guides with its LÍF token. The aim is to minimize fees for travelers while reducing costs for service providers. LÍF is Winding Tree's platform cryptocurrency .

The company’s clever use of smart contracts and the ERC827 protocol delivers better savings for every stakeholder in the travel and tourism industry. Winding Tree's nonprofit status assures there are no middlemen adding unnecessary fees to the booking process.

2. Webjet: Adding Assurances and Avoiding Inaccuracies

Inaccurate or lost hotel bookings add considerable stress and anxiety to a travel experience. When this happens, customers usually have to take on fees across several layers of the supply chain while providers consistently extract value. 

Thanks to blockchain’s immutable distributed ledger technology, Webjet has built a new model designed to avoid these irritating booking experiences. The company is a prominent online travel agency based in Australia and was founded in 1998. Webjet claims that it is Australia and New Zealand's leading online agency and is a leader in online tools and technology.

Webjet officially launched its blockchain platform in 2019. The system enhances the customer experience by recording all entries on the blockchain’s immutable ledger, which reduces the likelihood of mistaken or lost bookings and reduces the layers between sellers and consumers. It does this by locating real-time data problems that may occur between customers, agents, and hotels and sending messages to every party.

The technology’s improved security features provide better protection for the ecosystem. Apart from building greater supply chain efficiencies and reducing costs for hotels, travelers ultimately benefit from lower-cost bookings along with more transparency and greater accountability.

Decentralization is a key component of blockchain technology. It transfers control from a centralized entity to a larger network.

3. Sandblock: Improving Loyalty’s Fungibility

Loyalty rewards have gone through several iterations in the competitive travel and tourism industry. Many frequent travelers belong to airline and hotel loyalty programs . Spending points and miles often means jumping through multiple hoops to redeem rewards.  Despite high participation rates in loyalty programs, many customers report a willingness to accept better deals from competing carriers and service providers if the price is right.

Sandblock is one of the newest entrants to this part of the industry. Founded in 2017, Sandblock is based in France. It aims to change the loyalty landscape with its blockchain-based platform by allowing travel providers to create their own loyalty tokens , which can be exchanged for brand-specific rewards. Not only that but they can also be used like real coins and exchanged for fiat money .

Users can also apply their tokens to redeem rewards across a variety of services beyond the company that awarded them and can earn more by being active participants in the community. For businesses, the reward is better data and transparency , and an ecosystem that actually returns value thanks to improved targeting and happier consumers.

4. Accenture: Striving Towards Shorter Lines

Spending hours waiting in lines at airports is one of the major annoyances of traveling the globe not just for travelers but also for airlines and airport staff. Congestion can add to the time spent in lines for security, customs, and passport control. Security needs are also trumpeted as the reason for tighter controls and oversight, all of which contribute to frequent travelers' headaches.

To overcome these challenges and expedite the security process, Accenture ( ACN ) developed the Known Traveler Digital Identity System.  The consulting firm partnered with the World Economic Forum (WEF) to help disrupt the global travel industry.

This blockchain is designed to collect and host identifying information from frequent international travelers, enabling a freer flow of data between travelers and customs agents to ease the clearance process.

This allows travelers to gain control over their digital identities with better security thanks to distributed ledger technology. Airports and airlines benefit from accelerated processing and better security, helping shorten lines all while alleviating one of the biggest traveler pain points.

5. TravelChain: Making the Most of Data

Data is a prized commodity in today’s economy . It offers businesses insights and advantages when used appropriately. Data generated by travelers, which is highly valuable to service providers, is generally restricted to gatekeepers such as Expedia and Orbitz. These companies offer a faster booking process at a price. This raises costs and adds to the informational asymmetry for service providers. 

TravelChain is a new entrant that wants to upend the paradigm with an open-source blockchain. The Russian company seeks to remove intermediaries on the supply chain. Users are empowered to collect and monetize their travel data, keeping it safe from prying eyes and receiving tokens as compensation for sharing with travel service providers.  These tokens can then be redeemed for services or money.

Participating companies can access more granular information about travelers, channeling these insights for more pinpointed promotion targeting. Apart from personalizing marketing, these companies can offer customized tours and promotions based on a traveler’s preferences, closing the entire ecosystem loop and delivering value to all stakeholders.

Traveling should be comfortable, cost-effective, and most importantly, enjoyable. While fees, booking irregularities, bad reviews, and long lines may be symptomatic of the current travel environment, blockchain is challenging this status quo with a host of new services designed to modernize and streamline the travel experience. 

Thanks to the formation of more equitable ecosystems constructed to reduce the presence of intermediaries, travelers and service providers can build more mutually fulfilling relationships that contribute to better overall value.

Investing in cryptocurrencies and Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns cryptocurrencies.

Crunchbase. " Winding Tree ."

Winding Tree. " A Practical Application of Blockchain for the Travel Industry ."

Winding Tree. " A Practical Application of Blockchain for the Travel Industry ," Page 6.

Winding Tree. " A Practical Application of Blockchain for the Travel Industry ," Page 9.

Winding Tree. " A Practical Application of Blockchain for the Travel Industry ," Page 7.

Crunchbase. " Webjet.com.au ."

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Coindesk. " Digital Travel Firm Webjet Has Launched Its Booking Verification Blockchain ."

Harvard Business Review. " Blockchain Will Transform Customer Loyalty Programs ."

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Sandblock. " Reward Your Customers ."

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World Economic Forum. " The Known Traveller: Unlocking the potential of digital identity for secure and seamless travel ."

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ICOBench. " TravelChain ."

CoinTelegraph. " How Could Blockchain Transform the Way We Travel? TravelChain CEO Explains ."

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How blockchain technology is being used in the travel industry

How blockchain technology is being used in the travel industry

The travel industry has suffered a difficult few years, but blockchain technology may be able to launch it into an overdue renaissance. Thanks to these difficulties, the travel industry has had to adapt. A large area of this is being led by blockchain, such as optimising ticket and baggage management, increasing security, and cutting costs for tourists and accommodation hosts.

Table of contents

Booking solutions for the travel industry, smart contracts, hotel ratings on blockchain, blockchain baggage management, how blockchain is creating safer travel.

  • The future of blockchain in tourism

Finding accommodation while travelling can be difficult and many turn to third party booking sites, trading ease for affordability. Large booking sites like Expedia charge commission fees of around 10-30% , which will be taken at expense of the traveller or accommodation provider.

Blockchain platforms like Winding Tree are dedicated to removing this cost entirely by connecting customers directly with the airlines and hoteliers. Their platform currency LIF facilitates bookings and reduces costs for both parties. The platform made its first use cases of blockchain flight transactions with Hahn Air in 2019 and is also in partnership with Air France KLM, Lufthansa and Air Canada.

Webjet is another blockchain booking platform reducing costs for customers by assuring booking accuracy and reducing inconsistencies. Founded in 1998, Webjet launched its blockchain platform in 2019.

All booking entries are recorded on their system in real-time, which immediately addresses all data inconsistencies between parties and informs each participant. This saves customers from double bookings and any costs associated with booking mismanagement.

Blockchain-based booking agencies like Travala , formerly known as Concierge, also ensure greater security for tourists with smart contracts. Smart contracts can only be fulfilled when all participants satisfy the established prerequisites of the contract. With this, travellers avoid fraudulent transactions and costs at the hands of booking errors.

Accommodation providers are also being empowered by smart contracts . Disputes with guests overpayment or compensation for damages can cause problems, but smart contracts can help to avoid the costs incurred by disruptive guests. For example, if damages are sustained to a room or its inventory, a smart contract will transfer the deposit direct to the host.

Reviews, good or bad, can mean a lot to a hotel business. One bad review can entirely affect the business a hotel brings in, and through larger booking sites it can be hard to address or even identify cases where users are not verified as previous guests.

Blockchain-based review sites like Review.Network can combat this with the introduction of an immutable review ledger system wherein only verified guests may contribute. Blockchain networks can even go a step further by rewarding reviewers with crypto for helpful, fact-based reviews and deterring exaggeration from disgruntled guests.

There is also great potential for blockchain solutions in baggage management. Lost luggage cost the global aviation industry $2.5 billion in 2019. Some market research is predicting an expansion in baggage handling solutions in the coming years, and industry leaders are looking to integrate contemporary technologies like the Internet of Things (IoT), robotics and blockchain.

The automation of baggage handling will likely require a blockchain supply chain system to track luggage. Automated blockchain luggage management will ensure the safe arrival of luggage on the correct flight, reducing insurance and recovery costs. Passenger satisfaction will also be improved with reduced check-in times.

Blockchain can also be used to fill security gaps within baggage management, as airlines seek to automate luggage screenings. Integrated with automation technology, blockchain ledger systems could be used to identify and locate luggage security issues in real-time, better preventing security incidents.

Travel providers are also utilising blockchain technology to identify “known travellers”. Accenture has conceived a digital passport for passengers which has been taken on by several airlines including Air France-KLM and Air Canada.

Passengers can inform customs and border offices of their biometric and travel data in advance, saving time pre-flight. The blockchain accumulates traveller data and works with border offices to identify known travellers to prevent any security breaches.

The future of blockchain in the travel industry

The recent turmoil experienced by the travel industry has created obstacles for the integration of blockchain technology. However, this is also why travel could benefit so much from blockchain.

Travel security is a particularly great case for the implementation of blockchain. International travel passes are becoming a greater possibility around the world, and we could see them integrated into the regular travel routine. Digitised identification and automated luggage screening would completely change what travel and airline security look like once properly implemented.

While there has been little opportunity for use cases within baggage handling to date, the projected integration of IoT and automation technology in airlines will inevitably utilise the addition of blockchain within these processes.

Not only will travel security be improved but shorter queues and waits will mean that travel will become more accessible. As travel becomes easier with blockchain, costs will be reduced, and more people will be able to consider it as an option.

Removing intermediaries in booking platforms will also equalise the marker for small accommodation businesses. Reduced booking costs will increase tourism and decentralise the ecosystem, even allowing businesses to expand and compete with chains.

Overall, the use of blockchain technology in travel will create greater accessibility and level the market, and most importantly, make it safer for tourists and airlines.

blockchain technology in travel industry

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Let’s face it: the last couple of years have been tough for the travel industry. Still recovering from the Covid-19 pandemic, businesses are looking for ways to go from staying afloat to riding the wave again. Help may come from an unexpected ally: the adoption of blockchain in travel promises to give the industry a major boost. 

This article is largely inspired by Unicsoft’s cooperation with Chain4Travel , a prominent startup that developed Camino — a unique blockchain for travel applications.

Pablo Castillo , the company’s CTO, has kindly shared some first hand info on developing the new ecosystem, as well as his general insights on the industry’s transformation.

Stay tuned, and we’ll tell you all about the perks of using blockchain technology in travel projects. We’ll also discuss the adoption challenges and look at some use cases where blockchain shines.

Let’s get straight to the point.

How can blockchain help the travel industry move with the times?

The travel sector is uniquely multi-faceted: it incorporates elements of transportation, accommodation, food and beverage, and entertainment. Naturally, such a massive industry (total revenue is expected to reach US$992.10 billion by 2026) suffers from a bit of inertia. 

Innovation in travel takes a moment to set in, and old ways aren’t easily abandoned. For instance, only 34% of US consumers booked their hotels online in 2022, Statista reported .

At the same time, the overall travel demand is bouncing back and sometimes exceeds pre-pandemic levels. However, staff shortages caused by downsizing severely slow down the rebound. Flight cancellations, longer wait times at security checks, and lost baggage are only some of the problems that plague the sector. 

This is where blockchain technology steps in. It cannot substitute pilots or other skilled workers but it can help serve customers faster by optimizing booking, identification, payment, and other processes. 

Quick reminder: blockchain is a distributed digital ledger where transactions are recorded on all the computers (nodes) on the network, guaranteeing security. One of the best things about blockchain is the ability to use smart contracts — self-executing agreements built into the code.

We believe that using blockchain in travel can offer a number of tangible benefits. Let’s have a look. 

Whether you’re an OTA (online travel agent) or a small hotel owner, blockchain tech can aid in selling your goods and services by turning them into tokens . 

In short, tokenizing an asset means creating its digital representation on the blockchain. The token guarantees ownership rights for a corresponding asset.

For instance, a utility NFT can represent a seat on a flight or the right to stay at a property for a certain number of days. Or entitle its owner to additional services — a bottle of wine, a massage session, or a bike tour.

This business model is equally beneficial for the seller and the buyer. You get to sell your products and services via a convenient digital medium, while your customers can easily pay with crypto and enjoy their benefits right away. 

Conventional payment systems aren’t ideal for the travel business, where money often changes many hands to make one sale. According to IBM’s research , the average cost of moving funds within transportation systems is a staggering 16%. Bank transfer and credit card fees, and currency exchange rates all chip away at the profits. 

Using blockchain for payments cuts these expenses, as it takes out financial institutions as intermediaries. And guess what — you can forget complex verification procedures and save yourself loads of time. The technology also makes cross-border payments simple and accessible for travel companies of any size.

What’s even better, blockchain transactions are perfectly secure. The distributed approach guarantees that information is stored in multiple locations, and smart contracts ensure that payments go through only if all conditions are fulfilled. 

Imagine a platform such as Booking.com, with millions of property listings and terabytes of data scattered across thousands of servers. When information like prices, photos, or terms is updated, there’s an inevitable delay before the updates reach every server.

Now, if you were to build your own blockchain , any updates would be immediately available across the entire decentralized ledger. Every change would be stored in the ledger in chronological order, and these records couldn’t be altered. 

So if, for example, you just renovated your property and uploaded the photos, all users on the blockchain network would get an instant update. With smart contracts, you can easily program the kind of content and the level of access users will get. 

Don’t you get tired of having to constantly share personal information with websites when booking trips? It’s not necessary with blockchain. When you authenticate with your crypto wallet, the blockchain already has all the information it needs, so you won’t have to fill out forms. 

Using blockchain in travel paves the way for a more secure and transparent identification process. We’ll cover this in more detail later.

At Unicsoft, we believe that blockchain, cryptocurrencies, and NFTs can have a similar effect on the travel industry to what credit cards did for consumer spending. 

Fast, convenient, and secure transactions will help build trust between service providers and customers. Building on that, companies can win the hearts of their audience by offering better products and services. 

For instance, the user-centric Web3 paradigm, with its real-time data updates, can create deeply personalized experiences. Like picking up the most suitable rental car based on your previous choices and information about the upcoming trip. Or booking a room with south-facing windows for you. Or automatically choosing a vegetarian option for breakfast.

However, blockchain must be an integral part of the travel landscape for such innovations to become a reality.

While many industries like finance, automotive, and healthcare already use blockchain to their advantage, things aren’t so peachy for travel. 

Our guest, Pablo Castillo, comments: “ No comprehensive statistical data is available, but from my experience — yes, adoption is low at the moment. But look at it this way: there are roughly 150-200 million active crypto wallet users today. About the same number of people were online in the late 1990s, in the early days of the internet. We all know how that worked out. But while the curve was linear then, I think we’re about to see exponential growth in the adoption of blockchain in travel in the next five years.”

We couldn’t agree more. The potential of blockchain for the travel industry is huge. Forward-thinking businesses need to jump on the bandwagon to secure leading positions in the market. 

To illustrate our point, we’ve made a list of scenarios where blockchain tech can make a real difference. 

Top use cases for blockchain technology in travel 

The use of blockchain creates new avenues for selling your travel products and services. But the benefits don’t end there. Some of these use cases are still hypothetical, while others already exist in this or that form.  

The post-pandemic shift to remote work caused an uptick in the popularity of private rentals. In 2021, the share of customers using private rentals jumped from 28% to 43% by the end of the holiday season, Deloitte reported . 

The travel industry is responding to this demand. Dtravel is a community-owned platform where homeowners can list their properties and receive profits directly. Thanks to blockchain, Dtravel can finally give control to those who offer the service, as opposed to the business model of large aggregators. 

The community enjoys low fees, unmoderated communication with customers, and vote-based internal governance. 

As we’ve mentioned before, blockchain offers the level of security and immutability needed for identity verification. This is how we think it’ll work in practice: 

  • Once a person goes through the know-your-client (KYC) process when activating their crypto wallet, they can forget about carrying a physical ID.
  • At an airport, they can use a mobile wallet app to generate a QR code and feed it to a scanner.
  • The airport’s blockchain-based software will verify their identity and pull all the necessary data from the ledger: flight history, baggage info, current itinerary, food allergies, etc.
  • The customer can then go straight to the gate, bypassing check-in queues. Security might let you off with a basic check, and flight attendants will know what meals you’re more likely to order. Your miles will be added automatically. 

By the way, LAX airport has successfully tested a similar solution to verify the validity and authenticity of Covid-19 tests.

Using the decentralized framework of blockchain and existing cryptocurrencies, we can make payments without the mediation of traditional financial institutions. Settling payments in the travel supply chain can finally be cheap and happen in real-time.

This also makes life easier for customers: refunds don’t have to be a headache, booking last minute is a breeze, and holding fares isn’t a problem.

Travel ledger is a working blockchain-based settlement project for the travel industry. It deals with non-air transactions, offering automated invoicing and settlement services at low fees.

Blockchain solutions can help manage any travel-related inventory — from available hotel rooms and airplane seats to toiletry items. With every move recorded immutably to the blockchain ledger, you can effectively prevent overbooking, minimize refunds, and automate orders for new supplies. 

And how about tracking baggage—probably the biggest struggle of airline companies worldwide? Well, blockchain can help with that, too. 

Blockchain technology opens a new dimension of transparency and financial efficiency for travel businesses. Customers, in turn, will receive better service and be more likely to return and refer friends. 

Vouchers, tickets — everything can easily change owners on the blockchain.

Customers can safely resell their vouchers as travel NFTs. The blockchain’s ledger and smart contracts will safeguard the interests of both parties.

As a buyer, you can be certain that you’ll get your payment immediately. Sellers don’t have to worry about the asset’s authenticity or wait for it to be delivered as a physical object. Owners can redeem their NFTs at any time or possibly rent them out to third parties.

Incentive programs are another great use case for adopting blockchain in travel. Now that any asset can be a token, loyal customers can be rewarded with NFTs or other platform-specific tokens. 

These tokens can represent discount vouchers or extra benefits that customers can redeem instantly. Minting your own NFTs is easier than it sounds, and providing loyalty rewards on the blockchain is far cheaper than conventional methods. Marketing these digital assets is also a no-brainer, given the popularity of NFTs these days.

Sustainable transportation is a growing trend today, and the tourism industry is a major source of carbon emissions. The use of blockchain in your travel business can facilitate carbon neutrality. 

One of the ways to do it is to offer carbon credits on your blockchain network. For instance, you can give customers an option to buy a small share of your carbon tokens with your services or products. This is a good cause, and your business will attract like-minded persons who share your concern for environmental issues.

We have a whole article on carbon credit tokens , so if this topic fascinates you, make sure you give it a read.

We can’t possibly describe every use case in one article, but we do hope that the ones we covered sound convincing. Now, let’s spend a minute discussing the obstacles you may encounter when adopting blockchain in travel. 

What challenges will travel companies face while adopting blockchain?

The use of blockchain and crypto are relatively novel concepts in the world of travel. Be prepared to overcome some initial resistance and put in the time to search for solutions that will fit your needs.

As our guest expert Pablo explained, blockchain adoption rates are low in the travel business community. Which means there’s too little knowledge about the phenomenon. You might need to get buy-in from your stakeholders, and that’s where Unicsoft’s blockchain consulting services will come in handy.  

To successfully integrate blockchain into your business model, you first need to have a clear vision of the gains it will bring. The question is, more precisely, how will adopting blockchain help you excel at what you do?

Will secure and transparent payment settlement procedures get you there? Is a lightning-fast and reliable information management solution critical for you as a travel merchant? Or will your airline reap considerable benefits from selling tickets and in-flight services as travel NFTs?

Addressing your pain points, removing bottlenecks, unlocking revenue streams — blockchain can do it all, but you must decide what to pursue. Getting a second opinion from a company that has experience with blockchain development couldn’t hurt.

It takes specific expertise to build a blockchain solution , and you can’t expect your in-house team to be jacks of all trades. Sooner or later, you’ll either have to hire externally or outsource blockchain development to a reliable third party . 

As you can see, all the potential problems we mentioned can be overcome. Our partners from Chain4Travel prove it every day.

We hope you now have a pretty good grasp on the role of blockchain in travel, its benefits, and the challenges of adoption. But why speak in ‘what-ifs’ when we have a real-life example right in front of us? 

Camino: a blockchain created for the travel industry 

Pablo Castillo has been kind enough to tell our readers about the Camino project in great detail. We’ve summarized his story.

Camino is an innovative layer 1 consortium blockchain developed by Chain4Travel . It is based on Avalanche, with original technology modified to explicitly address the needs of the travel domain. 

The Camino network is an open and collaborative space for developing new travel related products as decentralized applications (dApps). 

Chain4Travel has garnered more than 100 supporters and selected over 70 validators so far — all companies with unique travel expertise ready to adopt Camino and help it grow.

When it comes to addressing the challenges specific to the travel industry, Camino beats general-purpose blockchains hands down.

Here’s why we make this claim with such confidence :

  • It’s built with the needs of travel companies in mind

A team of experienced travel executives and technology experts work together to make Camino better suited to the needs of the travel industry. Each partner adds something new to the network, so in the end, we’ll get a holistic ecosystem with the widest range of services.

  • Partners can build their own dApps within the ecosystem

They can do so either with the help of their in-house teams or by outsourcing development to tech companies versed in blockchain development . The participants invest in stakes, so they can vote to promote solutions they consider promising. 

  • It’s made to provide travel services without intermediaries, directly through smart contracts on the blockchain

Camino offers all the tools needed to work without the conventional constraints of the industry. Forget the draconian fees of large aggregators and enjoy fast and secure payment options. Instead of connecting to hundreds of APIs to enable simple additional services, execute smart contracts directly and momentarily on the blockchain.

  • The network offer increased security thanks to a semi-permissionless approach

Camino is not a public but a consortium blockchain. The validators all go through a KYC or KYB process. This guarantees improved security compared to public blockchains with anonymous users. Validators don’t take part in mining, which reduces the network’s exposure to DDoS attacks, malware, and other vulnerabilities. 

  • Validators have a direct say in controlling gas fees and curating the content

Keeping gas fees (the transaction cost paid to validators) low is important for travel applications. We’re able to do it due to exceptional performance that reduces the system load, and thanks to our validators who come from the travel industry. It’s in their common interest to keep the system working, not to make profits from gas fees.

Unicsoft here, with an unbiased opinion. In our mind, one of the best things about Camino is this:

This blockchain helps democratize the travel market by bringing in smaller local companies and offering them the same opportunities as bigger players. The travel market has been waiting for a solution like this for far too long.

The benefits of blockchain for travel businesses are innumerable. The utility of asset tokenization, the flexibility of smart contracts, the security and speed offered by blockchains make them perfect tools for the modern market.

You don’t have to invent the wheel to make the best of the technology and get ahead of the competition. All you need is a vision and tech partner that can bring your idea to life. Unicsoft would be proud to be that partner. Challenging and innovative projects are our cup of tea, and we know everything there is to know about blockchain development .

Using the Camino blockchain for travel applications is a great idea, too. We met its creators, we saw it in action, and we love the philosophy behind it and the capabilities it already offers.   Talk to us, and let’s start building your travel dApp today.

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Unlocking the Potential of Blockchain Technology in Travel

Marc Truyols

What is Blockchain? 

How blockchain is changing the travel industry, potential challenges, use cases of blockchain in travel, real-world examples of blockchain in travel, the future of blockchain in travel.

Blockchain technology has opened up the potential to revolutionize the travel and tourism industry, allowing businesses and travelers alike to benefit from the safety, security, and efficiency that Blockchain provides.

According to Informatics research, “ In 2025, blockchain technology is expected to become a central component of business operations in the hospitality and tourism industry.”

As more businesses embrace this technology, travelers will find themselves able to experience their journey in an unprecedented way, from planning and booking to managing payments and rewards.

In this article, we’ll explore what Blockchain is and what it means for the travel industry. We’ll consider its opportunities and obstacles while providing numerous use cases and real-world implementations.

Blockchain technology serves as an incorruptible digital ledger, enabling a secure and transparent record of all transactions across a network of computers. The data is stored in blocks, which link together like a chain; hence, the name “blockchain.”

What is Blockchain?

Every block on the chain carries distinct information, like a digital signature ensuring its authenticity. Once it is included in the chain, its content cannot be changed or removed. This makes Blockchain a secure, efficient, and decentralized way to store data.

Blockchain technology has the potential to streamline complex processes, optimize data accuracy and increase transparency, making it an indispensable asset for those in travel, tourism, and the hospitality industry.

Simply put, it’s an opportunity to transform how people travel around the world.

Below we’ll explore the challenges encountered in the travel industry and how blockchain technology can be used to address them.

Challenges faced by the travel industry

The tourism industry is highly fragmented and often plagued with inefficiencies. From long transaction times to slow payment processes, the traditional travel system has needed an overhaul for some time.

Challenges faced by travel industry

Some challenges faced by the tourism industry include the following: 

  • A lack of customer data privacy and security
  • Expensive intermediary fees and additional charges
  • Difficulty in communicating across multiple tourism companies
  • Inaccurate record-keeping, data management, and lost bookings
  • A lack of transparency and trust between tourism companies, customers, and suppliers

Advantages of using Blockchain in the travel industry

Blockchain promises customers a more secure, streamlined, and seamless travel experience. By leveraging its technology, Blockchain can help reduce fraud, human error, and provide a secure platform for booking and payments.

Advantages of using blockchain in the travel industry

Some advantages of using Blockchain in tourism include the following: 

  • Secure, efficient, and reliable bookings, payments, reservations, rewards, and loyalty programs
  • Reduce mistakes, costs, and delays associated with travel and the stress they cause
  • Blockchain-based systems make it difficult for hackers to access and alter sensitive information
  • Companies can trustingly verify customers’ identities and protect against any potential scams
  • Provide targeted services and advice to customers based on individual preferences
  • Innovative models, lucrative streams of income, and new opportunities like smart contracts 
  • Keep a close eye on goods, simplifying inventory and shipment management 
  • Improved transparency resulting in enhanced customer experiences 

While there are many challenges that blockchain technology can solve in the travel industry, it also comes with its own set of challenges.

Blockchain technology is still in its infancy and has yet to be widely embraced . This is because its potential applications and regulations are not yet fully understood. 

The primary function of blockchain technology is to remove reliance on third-party intermediaries . This can significantly impact the performance of OTAs and tour operators. 

If blockchain technology became the standard, customers could bypass OTAs and tour operators and connect straight to suppliers making intermediaries redundant . This is because blockchain technology is decentralized, meaning anyone can access it. 

In order to remain competitive, OTAs and tour operators may need to modify their business models to incorporate blockchain technology. 

This technology can provide many benefits, such as improved security, cost savings, and increased customer satisfaction. However, the costs associated with transitioning existing systems into a blockchain infrastructure can pose a high cost for many businesses to get started.

To become a mainstay in the travel industry , Blockchain would need to be adopted by the majority of airlines, hotels, and other service providers. 

With its intricate nature, navigating and administering blockchain technology can be daunting for businesses lacking the necessary experience. However, with continued research and development, this could change in the near future.

This technology is relatively new, meaning the tourism industry has yet to utilize its full potential. However, this is changing quickly as tourism providers begin experimenting with different blockchain technology applications. 

Use cases of blockchain in travel

Let’s discuss a few of the potential use cases of blockchain in travel.

1. Loyalty Programs

Loyalty programs can be a great way to reward tourism providers for their loyalty, but they often require a lot of manual work and resources to manage on the user’s side.

A report from arrivia shows that “ 59% of millennials say it’s either extremely or very important to be able to redeem points or miles when planning a trip.” And “ 31% of industry leaders concede that conversion rates would improve if they offered more exclusive discounts.”

This presents tourism providers with the potential to use blockchain-based loyalty programs to create more engaging experiences and drive sales.

2. Smart Contracts

Smart contracts are digital agreements stored on the blockchain, allowing for reliable and secure agreements between tourism providers and travelers. This type of technology can be used to facilitate an end-to-end booking process and create trust between tourism providers and travelers.

These contracts are built to be automatically triggered when certain conditions are met, reducing the need for human intervention in the process. This helps eliminate discrepancies and provide relevant parties with accurate customer data.

Smart contracts offer many benefits, such as automatically issuing delays, cancellations, refunds, and verifying identities. By employing smart contracts, the travel industry can ensure faster, more secure, and more reliable agreements between tourism providers and travelers.

3. Decentralized Identity Verification

Decentralized identity verification allows users to securely verify their identity without relying on a central authority.

In addition to improved security, this solution enables faster data processing which helps reduce wait times for customer check-ins and other activities, ultimately leading to a better overall customer experience.

Allowing travelers to manage their digital identities better will enable data to be redistributed to the appropriate parties. This way, individuals have more control over their digital identities.

A decentralized identification system can also replace outdated identification documents like physical documents with more secure methods such as fingerprint and retina scans. 

Through the Alastria project, a blockchain technology that leverages decentralized digital identification, tourist operations can streamline their tasks and have a centralized repository of all relevant customer information.

4. Payment Processing

Payment processing through blockchain technology has the power to revolutionize travel transactions and streamline payments.

For example, research conducted at the University of Raharja suggested that adopting cryptocurrency as a payment method could free users from extra charges on the platform.

Blockchain technology enables global ledger transactions that are fast, secure, and cost-efficient. This makes it an ideal option for payment processing in the tourism industry, where payments are often made across borders and at high volumes.

Blockchain can also enable the use of smart contracts for travel payments to ensure secure and automated transactions. 

Real-World Examples of Blockchain in Travel

1. Winding Tree

Winding Tree is a blockchain-based travel distribution platform.

By leveraging blockchain technology, they link supply and demand, ultimately decreasing user costs and increasing supplier profits.

Travala is a blockchain-based travel booking platform.

By utilizing blockchain technology, they provide an accommodation booking platform that enables users to make payments in cryptocurrency in addition to traditional payment methods.

Travala is leveraging the power of decentralized technology to create a secure and transparent system for users to confidently book and pay for travel.

With their native cryptocurrency AVA, you can make payments, obtain loyalty rewards and receive refunds easily.

LockTrip is a blockchain-based online travel marketplace.

Their platforms are designed to save users up to 60% on their purchases while striving to make prices more affordable for the everyday consumer.

They offer a decentralized system to securely store, review and compare travel options before booking.

LockTrip empowers users to book their own travel while also benefiting from the savings they receive by cutting out intermediary costs.

Webjet is an online travel agency.

They implemented blockchain into their operations by developing a system to record user entries on a blockchain ledger to help prevent disappointing booking experiences. As a result, opportunities for misplacing or mistaking bookings are greatly minimized.

By decentralizing data with blockchain technology, all parties can view current information and diminish supply chain flaws. This results in stress-free travel experiences, with cost savings being passed on to customers.

As consumers embark on their journey from planning to completing their trip, intricate business deals form as data flows between different companies in the travel industry.

This often results in a disconnect between various parties, from accommodation to flight bookings, leading to a lack of transparency in the travel process. The difficulty in monitoring resources has caused problems such as overbooking, cancellations, and refunds impeding real-time bookings.

The University of Raharja reported that “the utilization of blockchain innovation will make it simpler for organizations to keep secure information records.”

In order to reduce these occurrences, it is essential for both sides of the industry, from those booking travel plans to agents managing customer details to be able to seamlessly transfer data between each other at all times throughout the process.

The future of Blockchain in travel

According to research conducted by Accenture , “ 85% of executives report that blockchain is going to be critical to their organization’s ability to verify the origin of digital content.”

This enables all parties (travelers, agencies, and companies) to access up-to-date data on a decentralized platform. Technology like blockchain allows anyone to access up-to-the-minute information on available flights and rooms easily, eliminating the need for manual processes that have been inefficient and outdated for many years.

The distributed architecture of the blockchain provides a permanent and secure foundation for digital transactions. Data is stored across multiple sources, so it protects against tampering or deletion and malicious intent.

Blockchain Travel Conclusion

Blockchain technology is a revolutionary force of transformation that is still finding its footing and requires further development before it can truly shape the future of travel.

Blockchain can bring opportunities for the travel industry to streamline operations, create more secure systems, improve customer service and support, provide greater customer transparency and trust, foster closer relationships, and create new business models.

The challenges we face in achieving that reality will require collaboration between all stakeholders in travel to ensure a common understanding of the technology and how it can be best implemented. Ultimately, blockchain will not only improve the efficiency of the travel industry but also open up new possibilities that were never previously thought possible. With its potential to revolutionize travel, blockchain technology will undoubtedly be one to watch in 2023.

Unlocking the Potential of Blockchain Technology in Travel

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Marc Truyols

Marc Truyols has a degree in Tourism from the University of the Balearic Islands. Marc has extensive experience in the leisure, travel and tourism industry. His skills in negotiation, hotel management, customer service, sales and hotel management make him a strong business development professional in the travel industry.

Mize is the leading hotel booking optimization solution in the world. With over 170 partners using our fintech products, Mize creates new extra profit for the hotel booking industry using its fully automated proprietary technology and has generated hundreds of millions of dollars in revenue across its suite of products for its partners. Mize was founded in 2016 with its headquarters in Tel Aviv and offices worldwide.

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How Blockchain Technology Is Disrupting the Online Travel Agency Model

Liferewards.ai + Skift

Liferewards.ai + Skift

December 22nd, 2022 at 10:00 AM EST

Innovation continues to drive the travel industry forward. By bringing blockchain technology to the hotel booking space, a recently launched startup is adding a new dimension to the booking process and changing the way the hospitality and event industries interact with their customers.

Liferewards.ai

This sponsored content was created in collaboration with a Skift partner.

As travelers become more comfortable with cryptocurrencies and wallets, the online travel agency (OTA) model is ripe for disruption by blockchain technologies. Ready or not, hotel reservations that can be bought and traded like non-fungible tokens (NFTs) are here.

Liferewards.ai offers hotel reservations and event tickets that are digitized and converted into collectible NFTs. Customers can earn rewards based on their actions, which are easy to track using blockchain technology, as well as sell or trade their reservations in a secondary marketplace, much like StubHub functions as a digital venue for primary ticket buyers to sell or trade their baseball or Broadway tickets.

“By creating liquidity in bookings, both hotels and travelers will get more flexibility and an improved travel experience,” said Eduardo Ibañez, chief data scientist at Liferewards.ai. “With NFTs representing hotel stays or event tickets, Liferewards.ai lets travelers showcase where they’ve been, where they are, and where they’re going — and allows them to trade those bookings in an open marketplace. We’re developing a similar solution for flight reservations, but at launch we’re focused on hotels and events.”

What Does It Mean When Your Hotel Reservation Is an NFT?

As soon as a hotel is booked, the traveler gets an NFT that functions as a unique reservation that can be sold or traded securely and seamlessly up to 24 hours before check-in. Travelers can pay with their credit card or with cryptocurrency. As soon as the payment is processed, the system mints the NFT, and the traveler can see it in their wallet — then they can use it, sell it, trade it, or just show it off in their wallet.

Blockchain is good at authentication — verifying who owns what and when it was purchased — enabling two people to easily, inexpensively, and securely exchange tokens that represent reservations.

“The option of making the reservations tradable on secondary markets is attractive to many travelers, especially if their plans change frequently,” Ibañez said. “Hotels also benefit from having a secondary market.”

The Benefits for Hotels

Liferewards.ai promises to help hotels manage revenue more seamlessly and solve the problem of high cancellation rates by creating bookings that can be traded on secondary markets without losing value rather than canceled when travelers’ plans change.

“If a hotel has a cancellation policy where you can cancel 24 hours in advance, it’s better if they don’t have to worry about discounting the room to get someone else in,” Ibañez said.

The platform should also help hotels lower their customer acquisition costs. For example, large hotels will be able to pre-sell their inventory a year ahead of time, so they can keep their occupancy up and reduce risk.

“The faster they can sell out, the better,” Ibañez said. “We are solving a problem for travelers and for hotels simultaneously by creating value from bookings that are currently dead assets.”

To make sure the platform can compete on price and offer an expansive inventory of hotels, Liferewards.ai is partnering with OTAs and large hotel brands. Ibañez says it can offer lower rates and prices because its customers are in a closed user group. “The discount isn’t displayed everywhere else.”

Eventually, hotels will be able to set the rules of their NFT, so every time the reservation token is traded, the hotel will get a royalty payment. “We’re not there yet, but it is possible, because with blockchain their royalty share can be programmatically coded into the NFT.”

The Loyalty Play

In addition to partnering with hotels, Liferewards.ai is working closely with event and experience providers so they can package hotel reservations with event tickets and offer unique rewards to travelers.

“We’re going to allow travelers to yield loyalty points based on various interactions within the network,” Ibañez said. “The traveler who booked 10 times at a certain hotel might be dubbed the ‘community manager’ of that hotel or destination, and if they provide inside information about that place they’ll get extra points on every subsequent booking. With our decentralized travel platform, all travelers can monetize on their strengths, whether they be the best hotel reviewer or the best tour guide. We provide value for their interactions.”

In a future iteration of the platform, travelers will be able to discover and unlock rewards placed at certain longitudes and latitudes in the real world via augmented reality. An attempt to gamify the reward earning and redemption process, these so-called “quests” might entail going to a certain statue in Rome to unlock an event or hotel discount or going on a whiskey bar crawl curated by local experts in Kentucky.

Looking Ahead

While Ibañez is concerned that the lack of liquidity in other NFT marketplaces may impact sales volume, he maintains that Liferewards.ai, which operates on blockchain but isn’t solely tied to cryptocurrencies, will not be negatively impacted by recent volatility in the crypto market.

“Our technology stack is built, we have access to millions of rooms of hotel inventory, and we’re putting some great partnerships in place,” Ibañez said. “We will grow as fast as we can acquire customers.”

In terms of marketing, that means focusing on attracting younger, more affluent travelers who like to go to events — and then focusing on the nearby hotels that are popular with those travelers.

“For some travelers, our NFTs will merely represent the record of their reservation, while for others, they will be collectibles. There’s something to be said for flexing and sharing where you’ve been and what you’ve experienced. Your NFT will prove that, for example, you were at the Super Bowl and stayed at the same hotel as Rhianna.”

If the platform takes off as Ibañez believes it will, those who enjoy bragging about their travel experiences on Instagram will need to up their game.

For more information about Liferewards.ai, click here .

This content was created collaboratively by Liferewards.ai and Skift’s branded content studio, SkiftX .

Have a confidential tip for Skift? Get in touch

Tags: blockchain , cryptocurrencies , SkiftX Showcase: Technology , travel technology

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How Blockchain Technology Is Transforming the Travel and Tourism Industry

blockchain technology in travel industry

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Secure and reliable transactions are crucial when it comes to the travel sector. It is particularly pertinent, given the numerous international transactions occurring daily between different organizations in the sector.

The adoption of blockchain technology could increase the transaction’s reliability and security. Additionally, the absence of middlemen in the process could result in much faster payments using blockchain technology.

Furthermore, the decentralized character of blockchain can be advantageous for international travel. Without unified data storage, it is still possible to build an infrastructure.

A system of this kind is unlikely to fail due to hardware issues or malicious attacks. Due to blockchain’s decentralized nature, it is simpler and more reliable to obtain and store important data.

Because of its assurance of secured transactions and interoperability, various companies are now getting custom travel applications built and integrated with blockchain technology. In fact, global spending on blockchain solutions is expected to reach a valuation of $19 billion by 2024.

By hiring the best custom blockchain development company, they are now either creating a tailor-made software solution or upgrading their existing solution with blockchain technology.

This blog discusses the promising opportunities that blockchain technology offers in the travel and tourism industry.

How blockchain technology is revolutionizing the travel industry

Here are six ways how blockchain technology is transforming the travel and tourism sectors.

Helps in identification

The travel industry relies heavily on identification services, and blockchain may eventually replace other methods of keeping this data as the industry standard.

When used in this manner, technology has the potential to significantly shorten airport check-in lines or wait times, since presenting identification papers can be replaced by a quick fingerprint or retina scan.

Locating luggage

Blockchain technology has a lot of potential as a tool for monitoring luggage’s whereabouts –  particularly when it comes to international travel.

Over the length of a trip, a customer’s luggage frequently changes hands several times. Sharing monitoring data between businesses is much simpler when done using a decentralized database.

Streamlined payments

The settlements between hotels, travel agencies, third-party sellers and various aggregators are streamlined and expedited with the aid of blockchain.

The centralized ledger makes interactions faster and more secure than ever, assisting businesses in thwarting fraud and data theft. This is an excellent application of blockchain in the tourism sector.

Blockchain as a system aids businesses in controlling their business travel costs by accurately recording, analyzing and forecasting spend. Additionally, this combination enables the business to streamline operational procedures and offer clients a more seamless payment experience.

Vendor and supply chain administration

Through improved visibility of the complete supply chain, blockchain may be able to assist hotels and hotel chains in improving their interactions with suppliers.

Exporters, importers, packers and any other involved parties could be connected by a privately set blockchain network into a common chain that would be completely traceable and open to everyone.

Enhanced tracking and traceability

A decentralized database makes it simpler, quicker and more private to share tracking data among businesses, alliances and locations.

At various stages of the tracking process, this aids in raising consciousness, ensuring on-time deliveries and even preventing negative incidents. This use of blockchain technology in the travel sector has created new opportunities for many companies.

Decentralized bookings

There is a demand for more channels and collaborations that can improve operational and financial benefits for the business and the consumer. A small number of OTAs (online travel agencies) currently dominate the travel industry.

Introducing decentralized platforms for bookings. For businesses around the world, this application of blockchain technology in the travel sector is groundbreaking.

By eliminating middlemen, these platforms streamline communication and offer considerable power to both customers and hotels, making the process more affordable for all parties.

Other applications of blockchain in the travel and tourism industry

Some of the other technologies that have used blockchain as their foundation may be advantageous to the travel and tourism sector.

Here are a few instances.

Smart contracts

By eliminating middlemen (like notaries, banks or other entities), smart contracts, which use blockchain technology to manage contracts, enable lower costs and faster processing times.

There is much discussion surrounding digital identification-based initiatives like the Alastria project, which is being led by the top businesses listed on Spain’s IBEX 35 stock exchange.

With the help of this system, tourist businesses can streamline their work processes and have access to all relevant data about a person in one location.

Cryptocurrency

Virtual coins that can be exchanged like any other type of money make up cryptocurrencies . The distinction is that neither governments nor financial institutions have any influence over them. If a trade occurs, it will be completely transparently recorded in the blockchain network.

It’s time to put blockchain technology to work for your travel and tourism businesses

Embracing blockchain technology is simpler than it may appear at first. But for those who are unfamiliar with digital technology, encryption, cryptocurrencies or peer-to-peer networking, learning about it can still seem intimidating or overpowering.

However, given its enormous potential and ability to completely change the travel business, it is crucial to understand and implement it in business.

Sudeep Srivastava is the CEO of blockchain software development company Appinventiv and is someone who has established himself as the perfect blend of optimism and calculated risks. Having built a brand that is known to tap the unexplored ideas in the mobile industry, he spends his time exploring ways to take Appinventiv to the point where technology blends with lives.

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Blockchain technology in travel and tourism industry.

Blockchain Technology

Blockchain is one of the young digital technology innovations of recent times. It has brought about a drastic change in the way organizations store and access information or data.

Due to the efficacy of improving transparency and security in transactions and other benefits, Blockchain has begun to show its presence in the tourism and travel industry.

William Mougayar, a Toronto-based investor and the best-selling author of the book ‘The Business Blockchain’, stated that”You have to think of the Blockchain as a new utility. It is a new utility network for moving value, moving assets.”

What is Blockchain?

Blockchain is a transparent, decentralized digital ledger that records financial transactions, physical assets and so on. Anything and everything that holds a value can be tracked and traded securely with the blockchain network.

The idea behind Blockchain dates back to 1991, where Stuart Haber and W. Scott Stornetta, two researchers envisioned to develop a system that timestamps the documents and eliminates the risk of data tampering. 

In simple terms, Blockchain is a linear chain of blocks that holds immutable records of data (financial transactions, physical assets, supply chain information), where each block contains information chronologically in the form of coding.

Every information in the block is time stamped that makes all the data entries traceable, enhancing blockchain transparency. 

The decentralized feature makes it a democratic way of processing data where no entity has complete control over the network. All the information in the blocks is open for everyone in the network to see.

However, no one has the authority to edit a block except the one who owns it. And if any individual block undergoes changes, all other blocks in the chain gets updated and syncs in real-time. 

Benefits of Blockchain in Travel and Tourism Industry

Luggage Management

While travelling, we know that our luggage shifts hands multiple times over the course of our journey. And many of us might have faced problems tracking the location of our luggage, and also it might take a long time for the concerned companies to come up with an answer, making the situation worse. The scenario becomes even more complicated when it comes to international travel. 

Blockchain is the perfect solution to avoid such problems. The decentralized blockchain database allows companies to easily share the data internally, without delay and track the exact location of the customers’ luggage. 

Easy, Traceable Transaction

The overseas transaction is one of the major issues that customers face during international travel. Customers have to deal with various matters- from currency conversions to ATM withdrawal fees. 

Here, Blockchain serves as a global ledger allowing companies to accept payment using Bitcoins and other crypto currencies, making the whole transaction process simple, secure and easily traceable.

It’s centralized nature eliminates the intermediaries, hence making the payment quick without any intervention.

Eliminates Middlemen

If you have ever booked any sort of travel online, you might know the significance of online travel agencies to provide the best services you need. But have you ever thought about the end providers in the travel and tourism industry? The service providers such as hotel and transportation businesses have to pay at least 15% in commission to these middlemen for their services. 

It is a well-known fact that when more people are involved in a process, it takes more time and additional expenses to complete the process. The decentralized system through blockchain technology will empower the service providers to access the data at any time and connect directly to the customers. This will eliminate the middlemen, creating transparency in price and potential fees, hence improving customer experience.

Reliable Reviews

In the current digital scenario, it has become common to ensure the product’s quality before purchasing it. The same thing applies to tourism also, where customers check forums and user reviews before travelling. But are all these reviews accurate and reliable? Without any doubt, the answer is NO. 

Due to increased competition, businesses put up fake reviews for themselves and also for their competitors. This will result in the worst customer experience.

Since all the Blockchain data is verified, time-stamped and immutable, customers can rely on such reviews or information. This results in greater transparency and increase of customer trust. 

Some Examples of Blockchain Usage in Travel 

Winding Tree

Leveraged by Blockchain technology, Winding Tree is taking travel and tourism industry in a different direction, creating a decentralized network. The vision is to eliminate the middlemen and split the billions of dollars they take between the customers and the service providers.

Trippki 

Created in 2017, Trippki introduced a payment system that reduces the commission paid by hotels to acquire customers by eliminating the third party involvement.

They also reward the customers with ‘TRIP’ token for staying at particular hotels, and these tokens do not expire and can be redeemed, or exchanged for cash.

Atlas is a blockchain-driven, decentralized smart contract infrastructure envisioned to connect customers and businesses. Its hotel partners include Shangri-La and Hyatt, and its Airline partners are Cathay Pacific and Qatar Airways.

Blockchain technology adds significant value to the tourism and travel industry. It’s transparent and secure flow of information and easy access to data, without any tampering, reduces the costs and time involved over the course of the journey.

Despite being at the nascent stage, early adopters of blockchain technology in the tourism industry are far ahead of their competitors, in the race to gain more customers.

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Table of Contents

blockchain technology in travel industry

BLOCKCHAIN IN TRAVEL

Stability and security are two benefits that blockchain technology may provide to the tourism sector. Since the blockchain is decentralized, information can never be accidentally deleted or destroyed due to a hostile cyberattack, ensuring that transactions are always traceable.

The travel sector depends on several businesses sharing information. For instance, travel agents must provide customer information to hotels and airlines, and customers' personal effects are frequently transmitted between businesses and tracked. Because the responsibility for preserving data is shared across the entire network, blockchain can make accessing and storing essential information simpler and more dependable.

Of course, the travel sector depends heavily on financial transactions, and blockchain technology has the potential to both streamline and secure payments. This is especially true when dealing with funds from outside the country. As a result, blockchain has the potential to increase confidence among all stakeholders.

Using blockchain in the travel and hospitality industry has revolutionized the travel industry. It has changed the way of booking to the method of transaction. Blockchain experts in different companies harness the benefit of Blockchain development to reinforce their working mechanism in traveling and tourism, namely:

Winding Tree

Winding tree platform is an extremely valuable private company that was founded in 2012 in Switzerland. It uses its private blockchain technology to keep its customers' records, their data, their transactions, and the expenses of hotels and airlines. This private company uses the blockchain to keep track of the expenses for making a stable and fair travel market. This company uses smart contracts with its customers. It provides their customers with the opportunity of gaining profit, allowing customers to save for every stakeholder in the travel and tourism industry all across the globe.

One of the major problems customers face while traveling is the false or lost booking of hotels. This can be an increment in the traveler's expenses as new hotels booking requires spending money. The introduction of immutable distributed ledger technology has resolved the problem. Webjet has come forward with a solution to these problems. Webjet is an Australian-based traveling company that was founded in 1998. They claim to be the best online agency in New Zealand and Australia. Webjet has recently launched one of its private ledgers that deals with these issues providing the best solution by reducing the layers between the customers and the hotel through the use of blockchains. The customers can contact the hotels directly and check their facilities on their own and then decide whether they would like to book it or not.

blockchain technology in travel industry

The traveling and tourism industry has faced new challenges in hotel and airline loyalty programs. Although many customers are in the loyalty points offered, many prefer accepting better deals with lower prices. This problem was resolved by introducing Sandblock, which was founded in 2017 in France. The main aim of this blockchain is to replace the loyalty landscape with a blockchain based platform that is easier and safer to use. One of its key aspects is to let the customers have the option of creating their customer loyalty programs token based on their own choice, just like a smart contract. Not only this but those tokens can also be exchanged for real money when needed.

One of the most inconvenient things while traveling is standing in long lines for tickets. It can be tiring to stand in long lines and still need to be sure if the tickets will be available at your turn. In addition to waiting for the tickets, standing in queues for security checking has become a headache for travelers who want to travel. This problem was resolved by Accenture(ACN). Accenture developed a system known as the Traveler Digital Identity System. The main work of this blockchain is the collection of data of different travelers and tourists and their hosts from their traveling experiences and maintaining that information for further use by the customers who are planning a tour to a certain place at a low cost.

TravelChain

Data is the most important thing in the world these days. Different companies can use the data, and those companies can benefit from that data in various ways. But unfortunately, the data that the travelers provide are kept at the gate by sites like Orbitz and Expedia. They keep that data to themselves and offer high prices to people interested in traveling. TravelChain is a Russian-based company with blockchain experts that allows its customers to upload their data on the blockchain without any intermediaries. The users have full access to their data and can share it with anyone according to their will. In addition, they are also offered tokens for keeping that data which can be exchanged for fiat money.

blockchain technology in travel industry

Scale your Travel Industry projects with us

Potential blockchain use cases in the travel and tourism industry.

Here are four of the most intriguing applications of blockchain technology in the tourism and hospitality sectors.

blockchain technology in travel industry

Monitoring Luggage

Blockchain technology has a lot of potential as a tool for tracking the whereabouts of bags, particularly when it comes to international travel. Throughout a trip, a customer's luggage frequently changes hands several times. Sharing tracking data across businesses is much simpler when done using a decentralized database.

blockchain technology in travel industry

Identification Services

For the travel sector, identification services are crucial, and blockchain may eventually replace other methods of storing this data as the industry standard. When used in this way, technology has the potential to significantly shorten airport check-in lines or wait times since presenting identification documents can be replaced with a quick fingerprint or retina scan.

Safe Transactions

The most significant application of blockchain technology in the hospitality, travel and tourism sectors relates to payments. Here, its uses might include everything from acting as a global ledger, making bank transfers easier and more secure, to enabling travel agencies to accept payments in the form of Bitcoin and other cryptocurrencies.

Customer Loyalty Programs

To encourage repeat business, several travel agencies provide customer loyalty programs. Additionally, blockchain can help with these programs by streamlining the procedure, making it easier for clients to obtain information about their loyalty points, and enabling the distribution of tokens. In this field, fraud can be fought with its assistance.

Let's build together Travel Industry Project on Blockchain with us

Business ratings.

What is the first thing we do when we buy something online? Check the ratings of the product. The same can be done in tourism. But while planning tours and travel, we are not sure about who wrote those comments and who rated that place, and we might not be able to decide whether we will plan that tour or not. This problem is resolved using blockchain technology with traceable data on its platform. You can check a certain place's rating and who rated it, just like the ratings of businesses.

Hotel and Transportation Management

The main issue faced while tourism is managing and booking hotels and transportation. This problem is mainly faced by tourists when traveling to a new country or state. This issue gained the focus of public ledger developers, and after much consideration, blockchain technology was designed to solve this problem. The hotel and transportation booking is made by the customer by using a peer-to-peer network service provided by the ledger.

blockchain technology in travel industry

What are the uses of loyalty programs in business?

Different business companies use loyalty programs for the expansion of their customers and repeated usage of their company and their services by their customers. This is done by keeping the customers engaged by offering them different good options compelling them to use the same platform for their needs and desires. They keep a record of the data and information of the customers.

Many loyalty programs are being offered to customers by different companies, but some of the programs are:

Point Programs

Point programs are the most famous and widely provided loyalty programs companies offer because of their easy use. It works on the principle of spending more, getting more. This means the customer makes every purchase, and some points are added to his/her wallet in tokens. These tokens can then be used for different discount offers.

Spend-Based Loyalty Programs

In spend-based loyalty programs, The customer gets points for spending money on certain businesses. It is considered one of the easiest and most user-friendly programs that are easier to understand by the customers. It ensures secure and error-free transactions of money from cryptocurrency to real currency.

Tiered Programs

Tiered programs are loyalty programs that offer the customer to attain as much equilibrium as possible among the attainable and desirable rewards that can be gained. It provides a reward on the initial purchase that encourages the customer to make more purchases.

Paid Programs

Paid programs are loyalty programs offered to customers after paying a certain amount to the companies. The program comes with special offers provided after the payments are made. The paid programs contain benefits available to multiple parties making it worth spending money.

Value-based Programs

Value-based programs are provided to the customers that give their customers the benefit of becoming the brand ambassador by providing them with the best offers so that they agree to work with the company for a longer time. This is done by investing some of the money spent by the customer while purchasing something will be spent somewhere good, developing an emotional contact with the customers.

Partnered Program

Partnered programs are the loyalty programs offered by different blockchain software development services and other decentralized projects. This develops the feeling of trust and reliability among the customers.

Game Program

One of the best ways of attracting your customers for long-term business is by converting the loyalty program in the form of a game program that attracts customers having an interest in games offering a gaming experience to multiple players at the same time.

Hybrid loyalty programs

Hybrid loyalty programs have two loyalty programs merged at a single platform in the form of a single program. For example, the hybrid loyalty program can consist of a paid and a gaming program simultaneously

blockchain technology in travel industry

The use of blockchain in travel and hospitality industry has put the technology in a special place in the lives of travelers and tourists. Harvard business review revealed an increase in the business of touring and traveling after the introduction of blockchain technology in this field. Different blockchain technologies used by companies in traveling and tourism are Winding Tree, Webjet, Sandblock, Accenture, and TravelChain. The use of these platforms has made the security of the customers their priority making blockchain technology more reliable and trustworthy for the customers. Blockchain technology keeps a record of the customers,' data like personal information and data, preventing accidental deletion of the data that can be encountered while using some other software or traditional paperwork method of keeping records. Blockchain in the travel and tourism industry looks after the whole process from start to end to ensure their customers an enjoyable and time-stamped traveling experience. A custom Blockchain solutions or a Blockchain development company can help travel companies create custom blockchain solutions to improve their customer loyalty program and streamline their booking processes.

Blockchain technology takes responsibility for the whole process from booking airlines, booking hotels, booking the transport that the customer will use, smoother transactions of the customer, and providing security to the customer’s data, resulting in revolutionizing the experience of traveling for their customers making the costs and hectic work significantly reduce. Blockchain app development firms have developed several solutions that make transactions easier and safer while traveling. It has enabled the companies to accept payments across the seas in token money or cryptocurrency. It offers them a safer transaction method that its customers and all users trust.

One other big advantage of using blockchain in the travel industry is the provision of smart contracts that are customer friendly and provide the customers with the service of fingerprint recognition. In other words, all the data stored in the platform in digital data is easily accessible to the customer after proving their identity by fingerprint identification. Loyalty programs are a big reason to go for the use of blockchain for traveling and touring. The technology offers various loyalty programs that keep the customers engaged with their services. For example, regular customers are offered certain savings and offers by the companies that compel them to use that specific company for their traveling experience.

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In an industry where being first to market is critical, speed is essential. Rejolut's rapid prototyping framework(RPF) is the fastest, most effective way to take an idea to development. It is choreographed to ensure we gather an in-depth understanding of your idea in the shortest time possible.

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Using Blockchain Technology in the Travel Industry

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By Hicham Rajraji , Owner & Managing Director at Real Travel Service – RTS Group

The global tourism market crossed 8 trillion USD in 2017. It is forecasted to have a year-on-year growth rate of 4.7% to reach USD 11.38 trillion by 2025. Blockchain will help expand tourism further with its use of digital technologies. There are many companies who have recognized the benefits of blockchain technology and have begun to implement the technology on their websites.

Blockchain tourism is gaining popularity, and in this article, we will tell you more about what it is, as well as what advantages it can bring to your business.

The blockchain is a database consisting of blocks. Each block consists of information that can be duplicated and confirmed. The database is distributed, which means there is no single master copy. All copies are equal, and the data in them is updated simultaneously. Any changes to the database are recorded and duplicated with all subsequent copies, ensuring complete protection from possible hacker attacks.

It allows tourists to store information about their movements, purchases and visits to attractions in a single place. The information is encrypted, so only the owner can access it. In addition, all similar data distributed across various providers is synchronized, which simplifies the process of booking accommodation and tickets, as well as providing the ability to interact with a single tourist site.

The blockchain tourism market is starting to come to life. Nevertheless, several companies have already established themselves in the market, offering tourists services exploring various ways in which blockchain technology can be used to help improve the efficiency in the way they operate.

Air France is trialling a blockchain-powered health passport, ICC AOKpass. This app enables passengers to present their COVID-19 negative test on their mobile phones.

blockchain technology in travel industry

British Airways has invested in and is working with Zamna, a company that is using facial recognition with blockchain technology.

blockchain technology in travel industry

Delta Air Lines is a member of the blockchain research institute, exploring various technologies to improve the flying experience for its customers. For example, Delta Air Lines is ending skymiles and replacing it with cryptocurrency.

blockchain technology in travel industry

The Winding Tree platform lets you track baggage via blockchain, and it also allows you to book flights. Booking and tracking are made easy, safe, and secure without third-party involvement, giving greater transparency to all processes.

blockchain technology in travel industry

Lufthansa started the initiative Blockchain for Aviation (BC4A), which plans to include participants such as aircraft manufacturers, logistics providers, MRO service providers, software developers, and many more.

blockchain technology in travel industry

Some of the ways in which blockchain technology can be used in the travel and tourism industry are:

Blockchain technology can be used to make payments in the travel and tourism industry. Nowadays, online payments often include high transaction fees.

Payments can be made securely through cryptocurrency by eliminating intermediaries. This technology can reduce transaction costs by eliminating intermediaries.

Customer Data

Customer data is very important for the travel and tourism industry. The industry can use blockchain technology to collect customer data. However, the data has to be collected with the consent of the customer. The data can be collected, stored and verified using blockchain technology.

Online Travel Agencies (OTAs)

Online travel industry is a multi-billion-dollar industry.

However, there are lots of intermediaries involved in the industry, which increase the cost of travel bookings. Blockchain can be used to bring down the costs by eliminating the intermediaries. By reducing the cost of transactions, it will also help increase profits.

Loyalty Programs

Loyalty programs are an important part of the travel and tourism industry, but they have been facing some challenges.

Challenges like low engagement, high customer acquisition costs and the complexity of running loyalty programs can be solved with the use of blockchain technology. Blockchain can be used to develop decentralized loyalty programs, which will enable users to earn and redeem points. The points, in this case, can be in the form of cryptocurrency or in the form of loyalty points given by a particular company.

Smart Contracts

Smart contracts are computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract. These contracts are designed in such a way that they will be automatically executed once the terms of the contract are met. Smart contracts are most commonly associated with their use in the legal industry, but they are also used in other business areas, such as supply chain management.

In the travel industry, smart contracts can be used to:

  • Issue flight delays, cancellations, and refunds automatically
  • Verify identity or age to prevent minors from booking flights or hotels
  • Notify customers of flight delays or cancellations
  • Provide customers with travel insurance
  • Provide hotels with accurate customer details and customer requests or

Blockchain technology can greatly benefit the travel and tourism industry. It will allow you to reduce costs by eliminating intermediaries, and it improves security, since all information is stored in one place. It simplifies the process of making a purchase and payment and it also increases trust between tourists and service providers.

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Assessment of blockchain applications in travel and tourism industry

  • Published: 03 June 2019
  • Volume 54 , pages 1549–1563, ( 2020 )

Cite this article

  • Ali Ihsan Ozdemir   ORCID: orcid.org/0000-0002-6786-0262 1 ,
  • Ilker Murat Ar 1 &
  • Ismail Erol 1  

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Blockchain technology (BCT) is a network-based system, which is developed to create secure, smart and transparent distributed ledgers. Recently, BCT has been gaining more importance among different industries including travel and tourism industry through new tools such as smart contracts, decentralized applications and crypto currencies. However, despite the growing importance of the subject, only a few researchers have done studies with respect to blockchain applications in tourism and travel industry. Therefore, this study aims to propose a blockchain basics criteria set that allows decision makers to compare various distributed applications (DAPPs). The proposed blockchain basics criteria in this research are as follows: blokchain governance model, blockchain platforms, type of consensus, use of crypto currency, smart contract and tokens . Then, based on the proposed criteria set, case analysis is employed by using secondary data obtained from four successful DAPPs. However, note that this study does not seek to justify the selected DAPPs. Finally, major issues regarding the BCT and the importance of the proposed criteria set are also discussed. The findings may help lay the groundwork for future empirical studies.

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Ozdemir, A.I., Ar, I.M. & Erol, I. Assessment of blockchain applications in travel and tourism industry. Qual Quant 54 , 1549–1563 (2020). https://doi.org/10.1007/s11135-019-00901-w

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Travel Innovation: How Technology Shapes Modern Journeys

Posted: November 1, 2023 | Last updated: November 1, 2023

<p>Safety is the number one priority for many people when it comes to traveling. Biometrics have helped make significant progress on that criteria. Biometric technologies like fingerprint scanning, facial recognition, and iris scanning offer a higher level of security compared to traditional identification methods.</p> <p>Airport security and immigration processes have sped up thanks to biometrics, reducing wait times and eliminating the need for physical documents and manual verification. Biometrics also enable personalized travel experiences by linking individuals’ biometric data with their travel preferences and profiles.</p>

Safety is the number one priority for many people when it comes to traveling. Biometrics have helped make significant progress on that criteria. Biometric technologies like fingerprint scanning, facial recognition, and iris scanning offer a higher level of security compared to traditional identification methods.

Airport security and immigration processes have sped up thanks to biometrics, reducing wait times and eliminating the need for physical documents and manual verification. Biometrics also enable personalized travel experiences by linking individuals’ biometric data with their travel preferences and profiles.

<p>Augmented reality apps help travelers by providing real-time information about particular places, attractions, and destinations. AR can help people navigate unfamiliar cities and learn about those places along the way.</p> <p>Interactive guides, real-time translation, and personalized recommendations are some of the features that AR apps provide to travelers. They improve users’ engagement with the destination where they’re at and provide much-needed information when discovering new places and navigating unknown territories.</p>

Augmented Reality

Augmented reality apps help travelers by providing real-time information about particular places, attractions, and destinations. AR can help people navigate unfamiliar cities and learn about those places along the way.

Interactive guides, real-time translation, and personalized recommendations are some of the features that AR apps provide to travelers. They improve users’ engagement with the destination where they’re at and provide much-needed information when discovering new places and navigating unknown territories.

<p>In a data-driven modern world, Big Data allows businesses to gather and process large amounts of data from travelers. This allows them to offer personalized travel experiences tailored to individual preferences, customized promotions, and personalized recommendations.</p> <p>Big data enables businesses to gain a deeper understanding of customer needs and preferences. Business-wise, it analyzes market trends and demand patterns to optimize selling strategies and pricing. It also helps travelers improve their planning and trip management.</p>

In a data-driven modern world, Big Data allows businesses to gather and process large amounts of data from travelers. This allows them to offer personalized travel experiences tailored to individual preferences, customized promotions, and personalized recommendations.

Big data enables businesses to gain a deeper understanding of customer needs and preferences. Business-wise, it analyzes market trends and demand patterns to optimize selling strategies and pricing. It also helps travelers improve their planning and trip management.

<p>While still in the early stages, autonomous vehicles promise to change the way we travel forever. Brands like Tesla and cities like San Francisco have begun experimenting with driverless vehicles. The main advantage of autonomous vehicles is that they can eliminate human error, which is the leading cause of accidents due to distractions, fatigue, or impaired driving.</p> <p>They detect advanced sensors and cameras and use artificial intelligence algorithms to navigate and make decisions on the road. Autonomous vehicles also have the potential to increase accessibility and mobility for people who cannot drive.</p>

Autonomous Vehicles

While still in the early stages, autonomous vehicles promise to change the way we travel forever. Brands like Tesla and cities like San Francisco have begun experimenting with driverless vehicles. The main advantage of autonomous vehicles is that they can eliminate human error, which is the leading cause of accidents due to distractions, fatigue, or impaired driving.

They detect advanced sensors and cameras and use artificial intelligence algorithms to navigate and make decisions on the road. Autonomous vehicles also have the potential to increase accessibility and mobility for people who cannot drive.

<p>The Internet of Things (IoT) describes the network of everyday objects connected to the internet via embedded devices with sensors, software, and other technologies. IoT devices have also impacted the travel experience.</p> <p>Whether it’s smart luggage trackers or hotel room controls, these kinds of devices improve the traveler’s experience and organization. It also helps to ensure safety when traveling with devices such as smart surveillance systems equipped with IoT sensors.</p>

Internet of Things

The Internet of Things (IoT) describes the network of everyday objects connected to the internet via embedded devices with sensors, software, and other technologies. IoT devices have also impacted the travel experience.

Whether it’s smart luggage trackers or hotel room controls, these kinds of devices improve the traveler’s experience and organization. It also helps to ensure safety when traveling with devices such as smart surveillance systems equipped with IoT sensors.

<p>Smart travel accessories have solved many inconveniences and issues for travelers. For instance, portable Wi-Fi hotspots or smart travel routers enable travelers to stay connected to the internet while on the go, which is crucial when exploring unknown areas.</p> <p>Some travel gadgets, like portable chargers, noise-canceling headphones, and smart suitcases with built-in GPS, enhance convenience and optimize travel. These kinds of smart accessories are also used for safety purposes.</p>

Smart Travel Accessories

Smart travel accessories have solved many inconveniences and issues for travelers. For instance, portable Wi-Fi hotspots or smart travel routers enable travelers to stay connected to the internet while on the go, which is crucial when exploring unknown areas.

Some travel gadgets, like portable chargers, noise-canceling headphones, and smart suitcases with built-in GPS, enhance convenience and optimize travel. These kinds of smart accessories are also used for safety purposes.

<p>When it comes to cybersecurity and transparency, blockchain technology has had a major impact on travel. Passenger identities and booking records are stored on the decentralized blockchain, reducing the risk of fraud, identity theft, and data breaches.</p> <p>Blockchain technology also helps with payments. In the travel industry, the blockchain eliminates any intermediaries in the payment, like banks, enabling peer-to-peer (P2P) transactions, saving time and transaction costs, and enhancing transparency. It also plays a big part in loyalty programs, with the use of blockchain-based tokens or cryptocurrencies that allow more flexibility in the program’s rewards and can be redeemed through multiple participating travel providers.</p>

When it comes to cybersecurity and transparency, blockchain technology has had a major impact on travel. Passenger identities and booking records are stored on the decentralized blockchain, reducing the risk of fraud, identity theft, and data breaches.

Blockchain technology also helps with payments. In the travel industry, the blockchain eliminates any intermediaries in the payment, like banks, enabling peer-to-peer (P2P) transactions, saving time and transaction costs, and enhancing transparency. It also plays a big part in loyalty programs, with the use of blockchain-based tokens or cryptocurrencies that allow more flexibility in the program’s rewards and can be redeemed through multiple participating travel providers.

<p>One of the most important aspects of traveling is trusting the people who are in charge of the transportation, accommodations, tours, and other trip activities. Travel sharing platforms have gained a lot of popularity over the course of the years thanks to the facilities they provide for both parties to connect and interact.</p> <p>Another key part of travel sharing platforms are the user-generated reviews and recommendations. Platforms like TripAdvisor and Yelp help travelers make informed decisions based on other travelers’ opinions.</p>

Travel Sharing Platforms with User Reviews

One of the most important aspects of traveling is trusting the people who are in charge of the transportation, accommodations, tours, and other trip activities. Travel sharing platforms have gained a lot of popularity over the course of the years thanks to the facilities they provide for both parties to connect and interact.

Another key part of travel sharing platforms are the user-generated reviews and recommendations. Platforms like TripAdvisor and Yelp help travelers make informed decisions based on other travelers’ opinions.

<p>The AI takeover is real. Platforms like ChatGPT and Bard are regularly used by Internet consumers. When it comes to traveling, artificial intelligence can be very useful, and these chatbots can be used to provide information and assist with bookings.</p> <p>AI algorithms can analyze large amounts of data, including user preferences and past travel behavior. Using that data, AI can offer personalized travel recommendations. For businesses in the tourism industry, AI algorithms can analyze market trends and demand patterns to generate selling strategies and offer the best prices to maximize revenue.</p>

Artificial Intelligence (AI)

The AI takeover is real. Platforms like ChatGPT and Bard are regularly used by Internet consumers. When it comes to traveling, artificial intelligence can be very useful, and these chatbots can be used to provide information and assist with bookings.

AI algorithms can analyze large amounts of data, including user preferences and past travel behavior. Using that data, AI can offer personalized travel recommendations. For businesses in the tourism industry, AI algorithms can analyze market trends and demand patterns to generate selling strategies and offer the best prices to maximize revenue.

<p>Online Travel Agencies have resolved many obstacles regarding travel accommodations. Platforms like Expedia, Booking.com, and Airbnb have made it easier to find and book accommodations wherever you go.</p> <p>Providing a wide range of options and competitive prices, OTAs eliminate the need to visit multiple websites or make many phone calls to organize trips. User reviews and ratings, with 24/7 availability and customer support, have helped travelers get references about possible destinations and accommodations.</p>

Online Travel Agencies (OTAs)

Online Travel Agencies have resolved many obstacles regarding travel accommodations. Platforms like Expedia, Booking.com, and Airbnb have made it easier to find and book accommodations wherever you go.

Providing a wide range of options and competitive prices, OTAs eliminate the need to visit multiple websites or make many phone calls to organize trips. User reviews and ratings, with 24/7 availability and customer support, have helped travelers get references about possible destinations and accommodations.

<p>The days of using gigantic maps to move around unknown territory on your trips are over. Travel apps have changed the way we organize and manage every journey. It seems like every problem or issue can be easily resolved by just unlocking a smartphone and downloading different apps.</p> <p>Airlines have their own apps to book flights. Some hotels and activities can also be booked through apps, while car rentals and tickets for other modes of transport can also be secured online. Moreover, any Maps application on smartphones can provide real-time information and even travel guides while spending time far from home.</p>

Mobile Apps

The days of using gigantic maps to move around unknown territory on your trips are over. Travel apps have changed the way we organize and manage every journey. It seems like every problem or issue can be easily resolved by just unlocking a smartphone and downloading different apps.

Airlines have their own apps to book flights. Some hotels and activities can also be booked through apps, while car rentals and tickets for other modes of transport can also be secured online. Moreover, any Maps application on smartphones can provide real-time information and even travel guides while spending time far from home.

<p>The long-awaited alternatives to traditional car rentals and taxis have finally arrived in the last couple of years. Companies like Uber and Lyft have revolutionized transportation with their convenient ways of getting a car to move around a city.</p> <p>Smartphone apps help travelers request a ride, track their driver’s location, and pay for the service without the need for cash. Pricing models, such as dynamic pricing based on supply and demand, can offer competitive rates, especially during non-peak hours when regular taxis are not available or hard to find in some cities. These companies usually offer safety and transparency by providing driver background checks, vehicle inspections, and real-time tracking of rides.</p>

Ride-Sharing Services

The long-awaited alternatives to traditional car rentals and taxis have finally arrived in the last couple of years. Companies like Uber and Lyft have revolutionized transportation with their convenient ways of getting a car to move around a city.

Smartphone apps help travelers request a ride, track their driver’s location, and pay for the service without the need for cash. Pricing models, such as dynamic pricing based on supply and demand, can offer competitive rates, especially during non-peak hours when regular taxis are not available or hard to find in some cities. These companies usually offer safety and transparency by providing driver background checks, vehicle inspections, and real-time tracking of rides.

<p>Mobile payment solutions have been playing a major role in the evolution of travel. In fact, the globalization of these payment solutions has enhanced travelers’ experiences wherever they go, reducing the need for physical cash.</p> <p>Many mobile payment solutions are widely accepted globally, allowing travelers to make payments in different countries without dealing with currency exchange or international banking issues. It also provides financial inclusion by providing access to digital payment methods to people who may not have access to traditional banking services while on the move.</p>

Mobile Payment Solutions

Mobile payment solutions have been playing a major role in the evolution of travel. In fact, the globalization of these payment solutions has enhanced travelers’ experiences wherever they go, reducing the need for physical cash.

Many mobile payment solutions are widely accepted globally, allowing travelers to make payments in different countries without dealing with currency exchange or international banking issues. It also provides financial inclusion by providing access to digital payment methods to people who may not have access to traditional banking services while on the move.

<p>Technology has advanced so much that it allows us to travel to a certain place before actually going there. How? Virtual reality allows travelers to go through immersive experiences. Through VR headsets or immersive displays, users can virtually “step into” different locations, allowing them to explore and interact with their surroundings as if they were actually there.</p> <p>These kinds of experiences can help people take a look at places that they haven’t been able to visit. It also provides helpful information that can help travelers make decisions ahead of their trip.</p>

Virtual Reality

Technology has advanced so much that it allows us to travel to a certain place before actually going there. How? Virtual reality allows travelers to go through immersive experiences. Through VR headsets or immersive displays, users can virtually “step into” different locations, allowing them to explore and interact with their surroundings as if they were actually there.

These kinds of experiences can help people take a look at places that they haven’t been able to visit. It also provides helpful information that can help travelers make decisions ahead of their trip.

<p>In a world where there’s air pollution nearly everywhere, the transportation industry is trying to change that with electric and hybrid vehicles. The quest for environmental sustainability has allowed these vehicles to change the way we travel.</p> <p>Electric and hybrid vehicles produce lower or zero carbon emissions, helping to fight air pollution, greenhouse gas emissions, and climate change. In that way, sustainable and eco-friendly travel can be achievable in countries that have and produce these kinds of vehicles.</p>

Electric and Hybrid Vehicles

In a world where there’s air pollution nearly everywhere, the transportation industry is trying to change that with electric and hybrid vehicles. The quest for environmental sustainability has allowed these vehicles to change the way we travel.

Electric and hybrid vehicles produce lower or zero carbon emissions, helping to fight air pollution, greenhouse gas emissions, and climate change. In that way, sustainable and eco-friendly travel can be achievable in countries that have and produce these kinds of vehicles.

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  1. Blockchain in travel

    The answer is yes, and it is using blockchain in the travel industry. So, how can blockchain benefit the travel industry? To answer this question, we must understand the nuances of this innovation first. How blockchain technology works

  2. 5 Companies Using Blockchain to Change Travel

    Cryptocurrency Blockchain 5 Companies Using Blockchain to Change Travel By Joe Liebkind Updated September 22, 2021 Reviewed by Erika Rasure Fact checked by Suzanne Kvilhaug Blockchain is...

  3. How blockchain technology is being used in the travel industry

    Published on January 7, 2022 by Sarah Topping The travel industry has suffered a difficult few years, but blockchain technology may be able to launch it into an overdue renaissance. Thanks to these difficulties, the travel industry has had to adapt.

  4. An enabling Framework for Blockchain in Tourism

    This viewpoint article proposes an enabling framework that identifies the use of various blockchain technologies in tourism and their applications (digitalization, automation, disintermediation, and intelligent environment) across the different stages of travel (pre-trip, during the trip, and post-trip).

  5. Blockchain in Travel: A Game-Changer for the Industry

    Jan 2, 2023 -- 2 How Blockchain is Revolutionizing the Travel Industry B lockchain technology has the potential to revolutionize the travel industry in several ways, from improving security to streamlining and simplifying booking and payment processes.

  6. How Blockchain Technology is Transforming the Travel Industry

    How Blockchain Technology is Transforming the Travel Industry Here, we take a more detailed look at the various ways in which blockchain technology is being used within the travel industry.

  7. Integration of Blockchain Technology in Tourism Industry ...

    As a nascent technology, blockchain has the potential to revolutionize the tourism sector since it provides a secure platform connecting the tourism business and its customers (employees and tourists). Through this endeavor, a comprehensive literature assessment on blockchain technology in smart tourism will be conducted.

  8. Blockchain in travel

    The potential of blockchain for the travel industry is huge. Forward-thinking businesses need to jump on the bandwagon to secure leading positions in the market. ... Top use cases for blockchain technology in travel . The use of blockchain creates new avenues for selling your travel products and services. But the benefits don't end there ...

  9. Application Potential of Blockchain Technologies in the Travel and

    Blockchain is a disruptive technology that offers a variety of advantages that could dramatically transform business as it relates to the travel and tourism industry. Business models, payment systems, security and trust, and traceability and sharing information are all business factors considered core areas in the tourism industry.

  10. Unlocking the Potential of Blockchain Technology in Travel

    11 min. Blockchain technology has opened up the potential to revolutionize the travel and tourism industry, allowing businesses and travelers alike to benefit from the safety, security, and efficiency that Blockchain provides.

  11. How Blockchains Are Disrupting Online Travel Agency Models

    Innovation continues to drive the travel industry forward. By bringing blockchain technology to the hotel booking space, a recently launched startup is adding a new dimension to the booking ...

  12. A Review of Blockchain Technology Adoption in the Tourism Industry from

    The deployment of Blockchain technology in the tourism industry is already becoming a reality with the gradual emergence of innovative business models. At its core is the promise of improving the efficiency of the tourism service value chain and enhancing the quality of the service provided to the end customer. This paper analyses research trends focused on using Blockchain technology in tourism.

  13. Blockchain technology framework: Current and future perspectives for

    Also, the impact of blockchain technology that could touch several aspects of the travel industry, such as its money-transfer systems, security, performance, and trust. Blockchain's potential positive impact offers a good opportunity for other businesses to incur similar benefits from adopting this technology.

  14. How Blockchain is Revolutionizing the Travel and Hospitality Industry

    The potential of blockchain technology has inspired hype and buzz for years. However, we are really starting to see implementation in various sectors. Use cases have been extremely beneficial in industries such as banking, healthcare, and security. One such industry where the technology is gaining prevalence is travel and hospitality.

  15. How Blockchain Technology Is Transforming the Travel and Tourism Industry

    Blockchain as a system aids businesses in controlling their business travel costs by accurately recording, analyzing and forecasting spend. Additionally, this combination enables the business to streamline operational procedures and offer clients a more seamless payment experience. Vendor and supply chain administration

  16. Blockchain technology framework: Current and future perspectives for

    The impact of the study is to help industry practitioners understand the potential impact of blockchain technology on the business model, business opportunities and the future of intermediaries in the tourism industry. Also, the impact of blockchain technology that could touch several aspects of the travel industry, such as its money-transfer ...

  17. Blockchain Technology in Travel and Tourism Industry

    Blockchain is one of the young digital technology innovations of recent times. It has brought about a drastic change in the way organizations store and access information or data. Due to the efficacy of improving transparency and security in transactions and other benefits, Blockchain has begun to show its presence in the tourism and travel industry.

  18. Impact of Blockchain Technolgy in Travel Industry

    Webjet is an Australian-based traveling company that was founded in 1998. They claim to be the best online agency in New Zealand and Australia. Webjet has recently launched one of its private ledgers that deals with these issues providing the best solution by reducing the layers between the customers and the hotel through the use of blockchains.

  19. Using Blockchain Technology in the Travel Industry

    The data can be collected, stored and verified using blockchain technology. Online Travel Agencies (OTAs) Online travel industry is a multi-billion-dollar industry. However, there are lots of intermediaries involved in the industry, which increase the cost of travel bookings. Blockchain can be used to bring down the costs by eliminating the ...

  20. PDF Integration of Blockchain Technology in Tourism Industry ...

    The travel industry's digital footprint is constantly expanding. It utilizes modern technologies, such as blockchain technology (Stamatiou et al., 2022; Johng et al., 2018; Stallone et al., 2021). Blockchain is regarded as one of the twenty-first century's most signif-icant discoveries (Nakamoto, 2017).

  21. (PDF) Blockchain and Tourism

    Abstract and Figures. Blockchain technology has the potential to substantially transform the tourism industry. Its salient features such as immutability, transparency, programmability, and ...

  22. Assessment of blockchain applications in travel and tourism industry

    Blockchain technology (BCT) is a network-based system, which is developed to create secure, smart and transparent distributed ledgers. Recently, BCT has been gaining more importance among different industries including travel and tourism industry through new tools such as smart contracts, decentralized applications and crypto currencies. However, despite the growing importance of the subject ...

  23. How to Leverage Blockchain Technology in the Travel and Hospitality

    As often said, Blockchain technology presents a unique opportunity to revolutionise the travel and hospitality industry by improving security, transparency and efficiency. Firstly, the technology ...

  24. Travel Innovation: How Technology Shapes Modern Journeys

    Blockchain technology also helps with payments. In the travel industry, the blockchain eliminates any intermediaries in the payment, like banks, enabling peer-to-peer (P2P) transactions, saving ...