Value of blockchain for travel

TravTalk - Middle East - - TECHNOLOGY -

The 2017 Gart­ner Hype Cy­cle for Emerg­ing Tech­nolo­gies cat­e­gorised blockchain as be­ing in the ‘Peak of In­flated Ex­pec­ta­tions’. But is this true for the travel in­dus­try? At Trav­el­port, ar­chi­tects have been in­ves­ti­gat­ing the im­pli­ca­tions of blockchain, both for their busi­ness and the wider travel sec­tor.

In an in­dus­try built on trust and strong re­la­tion­ships, we started with an im­por­tant ques­tion: Is there a role for blockchain? To get to the bot­tom of this, we’ve been analysing the suit­abil­ity of blockchain to man­age on-board­ing and man­age­ment of travel con­tent for se­cure dis­tri­bu­tion and sell­ing. We have also been con­sid­er­ing other po­ten­tial use cases for the tech­nol­ogy in our sec­tor. Trav­el­port pre­dicts that in the short term, most blockchain de­vel­op­ments will hap­pen in closed sup­plier groups on pri­vate and per­mis­sioned chains within the travel in­dus­try. In the mid-to-long term, we may see pay­ments, in­ven­tory and or­der man­age­ment dis­rupted by blockchain or dis­trib­uted ledger tech­nolo­gies. Whole trip man­age­ment on blockchain, air set­tle­ment and com­bin­ing of air sup­plier jour­neys, we see as a longer-term op­por­tu­nity, an­tic­i­pat­ing fur­ther evo­lu­tion within blockchain tech­nol­ogy. The evo­lu­tion of open stan­dards around travel blockchains will drive ad­vance­ments in th­ese ar­eas.

(The views ex­pressed are solely of the au­thor. The pub­li­ca­tion may or may not sub­scribe to the same.) Andy Bell En­ter­prise Busi­ness Ar­chi­tect Trav­el­port

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