Which Type of Companies Use Blockchain to Change Travel?

A highly fragmented industry—travel and tourism—is already benefiting from blockchain-based services pinpointing main pain areas and reducing costs. It should be no surprise that this industry is subdivided into several distinct divisions. Consider the costs of flights, hotels, and vehicle rentals, among other things. So, how might the Blockchain be of assistance? By resolving common difficulties and simplifying procedures, these services can lower barriers to entry into the business while also creating a more egalitarian ecosystem free of gatekeepers.

The Winding Tree:

Expedia and Priceline, among other major travel service aggregators, dominate the flight booking market. However, both passengers and airlines bear a significant financial burden due to this. Booking via these websites often entails significant fees and surcharges, which are made feasible by their generally uncontested position as gatekeepers. Winding Tree, a Blockchain Companies-based business, attempts to dethrone these entrenched titans by contesting their position as industry intermediaries. Winding Tree is a privately held firm with its headquarters in Switzerland. It was established in 2017, and it serves a wide range of segments in the travel and tourist business, including hotels and airlines. The startup employs "blockchain technology to allow a fair and competitive travel distribution industry," according to the company's website. With the LF token, the business aims to link passengers directly with service providers, including airlines, hotels, and tour guides, among other things. The goal is to keep passengers' rates as low as possible while keeping expenses as low as possible for service providers.

Webjet:

Inaccurate or misplaced hotel reservations may cause a great deal of tension and anxiety throughout a trip experience. When this occurs, consumers are often required to bear fees across numerous levels of the supply chain while suppliers continue to capture profit continuously. As a result of Blockchain's immutable distributed ledger technology, Webjet has developed a new booking model intended to eliminate these inconvenient booking experiences. The firm, which started in 1998 and is located in Australia, is a well-known international online travel agency. Webjet claims to be the premier online agency in Australia and New Zealand and a pioneer in the development of online tools and technology. In the year 2019, Webjet officially debuted its blockchain platform. Due to the irreversible nature of the Blockchain's ledger, the system improves the customer experience by reducing or eliminating the possibility of erroneous or lost reservations and the number of intermediaries between merchants and customers. It does this by identifying real-time data issues that may arise between customers, agents, and hotels and then delivering messages to the parties affected by the problem.

Sandblock:

Loyalty programs have gone through several revisions in the highly competitive travel and tourism sector. Many regular travelers are members of airline and hotel loyalty programs. You may have to go through several hoops to get your benefits when you spend points or miles. The sand block is one of the most recent arrivals into this business segment. A sand block is a French startup that was established in 2017. Its blockchain-based platform aims to transform the loyalty landscape by enabling travel providers to develop loyalty tokens, which can then be swapped for brand-specific benefits. Not only that but they may also be used as actual coins and traded for fiat money in the same way.

Accenture:

Congestion may increase the time spent in queues for security, customs, and passport check. Accenture (ACN) created the Known Traveler Digital Identity System to overcome these difficulties and speed up the security procedure for travelers. With the support of the World Economic Forum (WEF), the consulting company is working to help disrupt the global change travel business.

TravelChain:

In today's market, data is a highly desired commodity. When utilized properly, it may provide valuable insights and benefits to enterprises. A few gatekeepers, such as Expedia and Orbitz, have access to the vast amounts of data created by passengers, which is very useful to service providers. These firms charge a fee in exchange for expediting the booking procedure. For service providers, this increases expenses while simultaneously increasing informational asymmetry. Participating organizations have access to more detailed information about passengers, allowing them to use these insights to focus their marketing efforts more precisely. Additionally, these organizations may provide personalized tours and promotions depending on the tastes of individual travelers, thereby completing the full ecosystem loop and providing value to all stakeholders.