Crypto Tourism is not the future, but the present!
The travel & tourism branch contributed $2.57 trillion in the global GDP in 2017. Furthermore, this figure raised up to $3.89 trillion in 2018. In spite of the rapid growth and great prospects, the travel industry faces many challenges.
Travel suppliers believe that blockchain can successfully solve these issues and help companies providing travel services to enhance their competitiveness in the market. There’s a pretty good reason why the investments in traveling-related technologies amounted to $5.3 billion, as follows from the CB Insights analysts. How can tourism providers and travelers benefit from blockchain and innovations?
What happens when blockchain and traveling meet each other
First of all, the decentralized ledger technology can make the travel services more convenient and cheaper by removing intermediaries. Third parties connect customers with hotels, airlines, and other tourism providers, which considerably increase the operating costs. For example, Booking.com and LateRooms.com charge huge commissions between 15 and 25% for their services, generating additional costs for consumers since hotels have to raise prices to cover the losses.
With blockchain, people will get a chance to contact tourism providers directly and save money. Businesses, in turn, will be able to give discounts and gain the confidence of clients. By the way, loyalty is another sore point in the travel industry. Deceived or manipulated reviews and grades undermine the customers’ loyalty to both companies and the whole industry.
The transparent decentralized network doesn’t allow travelers and providers to cheat each other by making fake reviews and grades. The main idea is that using blockchain platforms customers and companies will have a fair rating and reviews. An Israel-based travel company Cool Cousin has already launched such project that earned the trust of more than 500 thousand tourists worldwide since 2016. This blockchain-based solution helps people plan their trips, book accommodation or flights, and even reserve a table at local restaurants. Tourists and travel assistants can interact with each other directly without any mediators.
Blockchain can also deal with the overbooking issue, which often occurs in the tourism branch. CyberSource calculated that the airlines lose from 1% to 1.5% of their proceeds internationally due to the booking fraudulent operations. Blockchain technology verifies and securely stores the payment data, which will undoubtedly help companies save their money. In 2017, Lufthansa Group entered into partnership relations with Winding Tree, whose b2b platform is expected to decentralize transactions in the tourism industry and remove middlemen.
The online travel agency Webjet together with Microsoft created a blockchain-driven solution in order to eliminate errors in hotel bookings. The system will track all records made by third parties to check they got paid for ensuring a reservation.
Perhaps the most important application of blockchain within the travel branch is related to payments. Here, its use ranges from making transactions smoother, faster, and more secure, to allowing travel providers to accept cryptocurrency payments. This means that companies will be able to attract new clients from among those travelers who prefer paying with their virtual coins. The number of cryptocurrency owners varies from 10 million to 50 million, and they’re ready to spend their digital money on traveling and entertainment.
Doors to crypto tourism are open
There’s good news for them — there are places where crypto-friendly travelers can do it right now. The Noah Project is developing a chic resort that will be governed by Noah ecosystem. Noah Resort will be located in the territory of Dakak Beach Resort, one of the most beautiful and remote places in the Philippines. Long white sandy beaches, warm sea, picturesque landscapes, and hospitable staff are waiting for those who want to enjoy the rest away from the bustling city.
Active guests will be invited to take part in various sports activities, including rock climbing, kayaking, wakeboarding, tennis, bowling, cove hopping, and many others. For utilizing Noah Coins here, visitors will receive bonuses and be able to join the loyalty programs. Furthermore, to make guests’ stay smoother, Noah has already provided a unique opportunity to pay with Noah coin in Dakak beach resort. This proves that digital currencies will open doors to any goods, services, and amenities in any corner of Noah Resort.
The only thing needed to manage and use the Noah Coin is having a Noah Wallet app installed on your device. Since Noah Coin is listed on 7 exchanges (HitBTC, Changelly, BTC-Alpha, Mercatox, LiveCoin, YoBit, and Ataix) It is easy to purchase and depositing required amount in your wallet. The specialists also launched Noah Pay, a crypto payment application that allows travelers to pay for booking and other related expenses within Noah Resort just in one click. Customers can freely download Noah Wallet and Noah Pay to their smartphones or tablets and immediately start using them.
Cutting-edge technologies take the travel industry to a completely new level by solving its problems and breaking barriers between customers and providers. Adventurous market players caught the wave and already evaluated the potential and advantages blockchain offers to the world. They made the first step and brought their solutions to the table. It’s your turn now. Are you ready for a new experience?
To get more details about Noah Resort, visit the Noah Project website, join the official Telegram chat, as well as follow the project on Facebook and Twitter.
