The 8 areas of impact
The Blockchain technology which TravelerToken uses will bring the travel industry to the future. We found out that Blockchain technology has many important areas of impact in the travel industry. It impacts and benefits all participants (buyers and sellers) in the market. The 8 most important areas will be described in the following points briefly.
With Blockchain technology new ways of using loyalty points and payback systems will arise. This can be used by customers across all different sellers in the industry.
Blockchain entries are unchangeable. The money which flows through the travel life cycle can be dispatched at any time making the process for everyone more transparent.
Thanks to the Blockchain technology and thereby Smart Contracts, retracing negotiated rates will be improved.
Blockchain safes a lot of time in the complex settlement process for both buyer and seller by making use of Smart Contracts.
Internet of Things (IoT)
Blockchain technology is also connected to the Internet of Things.
Using this technology in the travel industry would make it possible to track many assets like a passenger’s luggage at the airport.
The travelers identity can be stored and used across different transactions. This allows our partner companies to deliver more individualized offers to their customers.
Our blockchain technology will help to reduce fraud dramatically because a single change in a node is identified quickly. For this reasons the process gets much more secure.
Because of the ability of the blockchain technology of preventing double spendings and providing a high level of transparency, the problem of double bookings could be removed in the travel industry.
Just a quick reminder: If you want to stay updated on any news that are related to TravelerToken, follow us on our social media channels, which you can find below. If you want to go more into depth with topics like blockchain and data security, read our whitepaper as well!