How blockchain has been implemented in world of loyalty by the example of travel.

It seems like everyone and their mother is talking about blockchain nowadays. They say that simplicity is the sign of true genius, and it’s amazing how incorporating something as simple as blockchain can truly optimize and increase the productivity of one’s business.

Let’s take a quick look at how blockchain has been implemented in our world today, especially in world travel.

One recent development was in the tourism of Dubai and Norway. Both countries were looking for a way to get people to visit less popular tourist сities in their countries. They employed the services of Loyall to help them develop a way to reward tourists with points when they visit less well-known tourist destinations. By offering points to people for checking in at various tourist locations, they motivated tourists to visit those places, and of course, spend more of their tourist dollars there.

If we take a step back and look at the journey tourists make before they get to their destination, we will see that blockchain can be useful there also. I’m sure many of you who travel had had to bear with many long minutes standing in line when your flight has been cancelled, or else because of a delayed flight you missed your connection and you wait for one travel agent to talk to another airline, get their information, and before you know it, you’ve missed the flight that was 15 minutes later and now have to wait another 6 hours for the next flight. Thanks to development many airports and airlines are implementing blockchain as the way to store and communicate their data. One of Russia’s biggest airlines S7 launched a blockchain partnership with Alfa Bank and as a result has diminished its settlement time between airline and agents from two weeks to just over 20 seconds!

Other airlines have also capitalized on the benefits of blockchain technology, in particular Singapore Airlines. They have developed a wallet with the help of Microsoft which allows members of their loyalty programs to exchange loyalty points for KrisPay miles (worth roughly $0.73) which can be used to purchase goods at various retailers. Delta airlines also has SkyMirage tokens which can be exchanged for points.

But the main reason that blockchain has been utilized so often, is that it aids companies in their loyalty programs. When a company effectively protects their client’s information, and also creates a more frictionless experience, those customers are more likely to come back.

Now imagine that the tourist of the future will not have to choose what a hotel they stay at based on the airline which they chose, just so that he can stay within a certain loyalty program, or make the most of his bonus points. What if he was free to choose the most comfortable and stress free choice, and not lose out on the benefits? With Wulet, this is possible. On the Wulet exchange a consumer will be able to exchange points from all of his loyalty programs, and even if he books an airline from one conglomerate, and a hotel from another, and then gets a few points for visiting the oldest building in Norway, he can adjust his visit to suit his personal needs while saving money. He can even try his hand at trading on the Wulet exchange, playing the market and storing his points in the currency of the companies he considers most valuable. Then he can purchase whatever he needs whether it be a return ticket, an extra night in a hotel, or a drink at the airport before he starts his journey home.