4 Ways that Blockchain Technology is Transforming the Travel Industry
Avid travelers and professionals all agree that blockchain technology will transform the travel industry in multiple ways. But what improvements is the blockchain really bringing? How will it impact you as an individual? Here are some things to think about.
1) Increased Security
All travel bookings placed through the blockchain are permanent and unable to be edited. The stability of these reservations protects users against malicious cyber-attacks and significantly reduces the chance of misplaced reservations, due to all transactions details being available to the public. The transparency of financial transactions also improves the trust and reliability associated with bookings, regardless of domestic or international travel.
2) Centralized Identification Services
Having the correct documentation in place is crucial for smooth travel, regardless if you are traveling domestically or internationally. Future development of blockchain technology will allow travel documentation to be secured, validated and stored on the blockchain for each traveler. This will reduce accumulated costs for both individuals and companies, therefore deflating the costs associated with traveling.
3) Tracking of Luggage
Reduce the hassle of keeping track of luggage on connecting flights through blockchain technology. The increased transparency of blockchain transactions will eliminate third party tracking and provide reliable, real-time updates on where your luggage is.
4) Simplified Customer Loyalty Programs
Blockchain technology creates a simple, transparent process that allows customers to maximize their loyalty offerings. Blockchain technology speeds up transactions and records all travel bookings without the use of a third party, therefore streamlining the process for users and promoting trust in the loyalty program.
While disruption to an industry may seem daunting, the blockchain’s simplicity and transparency will continue to bring positive benefits to travelers and organizations. Join TravNow™ in disrupting the way hotels and resorts are booked online by sharing a portion of its profit margin to lower the price paid for a hotel room to below those public websites like Expedia and Priceline. TravNow™ will bring you increased security, decreased travel costs and more. Click here to join us today, and become a disrupter.