November 21, 2017
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The number of companies working on blockchain is increasing exponentially. Regardless of which projects get off the ground, blockchain looks to have significant long term impact inside and outside the travel industry.
Blockchain appears to excel when you need a clear and immutable record of any type of information (such as location or ownership) to be accessible to multiple parties who may not trust one another. We’re beginning to see blockchain prototypes emerging in the travel space:
- Webjet is piloting hotel room inventory on blockchain, to collect exponentially more data with each booking and ensure prompt and complete payment to all parties.
- Startups are eyeing digital identity management on blockchain. Combining biometric identification with blockchain may provide more secure digital proof of identity, over traditional identity measures like a passport.
- Hotel and airline loyalty programs may transition to blockchain to help streamline tracking of loyalty points and simplify conversion and redemption across all players.
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