Which Are The 6 Companies Using Blockchain To Change Travel – Part 1
Here we explain the major online portals helping increase the travel industry to gain on their various applications. Read on and get the facts right.
As The Blockchain Technology Helps Travel Industry To Better Their Applications
Blockchain is indeed emerging as a powerful technological force that is already heralded as a game-changer for multiple industries promising to change the travel industry’s status quo. It is understood that thereby for an industry as fragmented as the travel, the blockchain-based services come as already isolating major pain points working to resolve common challenges by focusing on streamlining the processes and building a more equitable ecosystem that shuns gatekeepers. Hereafter the technology’s impact is more than hypothetical with several new businesses emerging to disrupt several nodes on the industry’s supply chain.
Here are the six companies working to improve key aspects of the travel ecosystem establishing blockchain’s place in the industry
1. Winding Tree: It Is Displacing Online Booking Hubs
Major travel service aggregators are emerging across the internet like Expedia and Priceline that has since come to dominate airfare bookings, but at a serious cost to both travelers and airlines. Hence the bookings on the websites tend to include hefty fees and surcharges made possible by their largely unchallenged status as gatekeepers and the blockchain-based startup Winding Tree is already working to unseat these entrenched giants challenging their role as industry middlemen.
Winding Tree seeks to connect travelers directly with service providers like airlines, hotels, and tour guides, with its LIF token, minimizing associated fees for travelers all while reducing costs for service providers. It is therefore attributed to the company’s clever use of smart contracts and the ERC827 protocol delivering better savings for all travel industry stakeholders while its nonprofit status assures no middlemen are adding unnecessary fees to the booking process.
2. Cool Cousin: It Helps In Gaining Better Guidance
Even as the truth comes that identifying a region's highlights and potential attractions is a big part of the planning process for travelers with major names like Lonely Planet as well as Trip Advisor offering some guidance which is hurt by issues stemming from their lack of transparency and profit-oriented models.
While it was launched in 2016 in Tel Aviv, and it is used today by over 500,000 travelers worldwide, Cool Cousin comes with its curated travel experience seeking to provide a better alternative for tourists.
Therefore to point out that it is here that the company’s blockchain-based ecosystem thereby helps incentivizes local guides to monetize their local knowledge and to offer a more accountable and authentic tour opportunity for the application’s users.
Hence with CUZ Token the community of travelers, as well as local Cousins, participate in a completely decentralized travel agency whereby value flows between users instead of being extracted by intermediaries’ along a chain. Hereafter the system’s feedback and ratings are more reliable due to the trustworthiness of the content and transparency inherent in blockchain-based systems.
Thereafter for millennials and Generation Z jetsetters have demanded a more customized experience as the Cool Cousin helps travelers narrow down the research process with on-demand guidance that fits their unique needs.
3. Webjet: Thereby Adding Assurances And Avoiding Inaccuracies
There are possibilities of inaccurate or lost hotel bookings that add considerable stress and anxiety to a travel experience whereas furthermore customers usually have to take on fees across several layers of the supply chain while providers consistently extract value.
As it is viewed, we thank the blockchain’s immutable distributed ledger technology as Webjet comes as a prominent online travel agency that has built a new model designed to avoid these irritating booking experiences.
The system, therefore, enhances the customer experience which is thereby according to all entries on the blockchain’s immutable ledger reducing the layers between sellers and consumers.
As it comes to technology’s improved security features, providing better protection for the ecosystem hereby apart from building greater supply chain efficiencies and reducing costs for hotels, where travelers ultimately benefit from what is said to be lower-cost booking alongside the transparency and the greater accountability.
Wrapping Up The Discussion For Now
The list is not complete here. In the next write-up, we follow many other online portals catering to the tourism industry. Hence we believe you will get a wide area of understanding regarding the usage of blockchain technology by the travel industry. While online travel agents are on the rise many are developed on blockchain technology. Hence this industry is seeing a great change in the blockchain influenced applications thereby regarding all and most of the various features concerning it. The post is incomplete without mentioning what the technology is revolutionizing today in every industry with its Midas touch.