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Blockchain revolutionizing yet another industry Traveling!!!

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Blockchain revolutionizing yet another industry Traveling!!!

Post by anonymous19 on Tue Apr 18, 2017 7:16 pm

Below are some issues with the current travel booking system and their solution achieved by using blockchain
1. Overbooking
Blockchain's ability to prevent double spending could, in theory, remove the problem of double bookings in the industry, which would hopefully (for both passengers and airlines) eliminate instances like this from happening.

2. Fraud
Fraud can be of two types, one done by the user, booking and then charging it back using credit cards. This can be eliminated using blockchain, since once a payment is made, it can not be reversed. And since there are no credentials to store, Payment Card Industry Data is also safe.

3. Personnel data
If employees had their information on the blockchain, this could remove much of the pain on both sides. The company can share supplier's profile database and the buyer's HR system for every new implementation.There'd be no need for employees to create user accounts with multiple suppliers, duplicating their information along with thousands of other users on systems that stand the risk of being breached. Nor would they have to adopt every new supplier's user interface.

4. Loyalty
With a public blockchain for the whole travel booking domain, a person can enjoy points received from one company and use it on another, what a dream world would that be.

5. Brokers
With the public ledger in place, no place for brokers and middlemen will be left on earth. The system will become fully transparent making it cheaper for last minute bookings.

6. Real-time
With the use of blockchain, traveling agency will get real-time data whenever a new reservation gets created, modified or canceled, plus when a traveler boards the plane, checks in at the hotel or starts the rental car. Include this with IOT enabled devices and you have got yourself a real time user experience feed system.

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