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How Blockchain Could Possibly End Travel Industry Problems !
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How Blockchain Could Possibly End Travel Industry Problems !
by Artyom Wed Apr 19, 2017 3:12 pm
At this point, most blockchain enthusiasts know that distributed ledger tech has potential beyond fintech. Yet, one industry that hasn't seen much attention from those enthusiasts is the travel industry. And it's one that deals regularly with a number of pain points that blockchain technology has the potential to solve.
Here are some of the more notable issues and how blockchain could help:
1. Overbooking
2. Fraud
3. Identity and reputation
4. Traveller profiles
5. Settlement
6. Loyalty
7. Policy and compliance
8. Duty of care
9. Smart contracts
10. Removing silos
However, both public and private blockchains have advantages in the travel industry.
The established public blockchains, such as bitcoin and ethereum, have an advantage in scale both of payments and the applications that can be built on them, compared to the newer alternatives. Newer and smaller blockchains, on the other hand, will have an easier task achieving the network-wide consensus required to make strategic changes to the protocol.
Source: http://www.coindesk.com/blockchain-end-travel-industry-pain-points/
Here are some of the more notable issues and how blockchain could help:
1. Overbooking
2. Fraud
3. Identity and reputation
4. Traveller profiles
5. Settlement
6. Loyalty
7. Policy and compliance
8. Duty of care
9. Smart contracts
10. Removing silos
However, both public and private blockchains have advantages in the travel industry.
The established public blockchains, such as bitcoin and ethereum, have an advantage in scale both of payments and the applications that can be built on them, compared to the newer alternatives. Newer and smaller blockchains, on the other hand, will have an easier task achieving the network-wide consensus required to make strategic changes to the protocol.
Source: http://www.coindesk.com/blockchain-end-travel-industry-pain-points/
Artyom- Posts : 8
Reputation : 1
Join date : 2017-04-15
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