🛩 Web3 in Travel
How Blockchain will help eliminate many of the issues plaguing the travel industry
Today's Highlights
- Headache-less travel
- Today's Infographic
- In Other News - a few interesting developments we're tracking.
Headache-less travel
This summer, many families and individuals traveled across the world due to it being the first summer in two years where the majority of the world felt it was safe to travel again. But this influx of travelers after two years led to some major problems. Flight delays and cancellations became a major problem and are more common than ever before. Checked bags are getting misplaced and/or lost. There have also been problems in hotel checking/pricing and getting rental cars.
These problems need to be addressed with newer ideas as it seems that current technology is not doing much to alleviate the problem. As blockchain and Web3 are becoming more prominent in other areas/industries, these new technologies can also serve to eliminate many issues currently plaguing travel.
Decentralizing the way aircrafts are handled will speed up the process of getting the aircraft up into the air and the maintenance of the aircrafts. Every process is tracked and recorded in real-time, and the entire supply chain is linked. All of this allows for more quality and efficient management, which reduces the likelihood of flights being canceled. The real-time and supply chain aspect of blockchain also reduces the likelihood that checked bags get misplaced.
Blockchain also eliminates the need for third-party middlemen in booking flights/hotels/rental cars. Winding Tree is a company that uses blockchain and smart contracts to connect users directly with service providers to offer fair pricing for travel while completely getting rid of the middlemen. Blockchain can also help avoid inaccurate/lost hotel bookings. Webjet is a company that uses blockchain to record hotel transactions and offers transparency to both the hotel and traveler for fair pricing while ensuring the records are secure.
Blockchain could also help shorten lines at airport security lines. Accenture developed the Known Traveler Digital Identity System which is a blockchain-based system that collects information from frequent international travelers, and it provides a better flow of data between custom agents and travelers. Travelers are in control of their digital identity and this system can accelerate processing while having better security.
Blockchain is challenging the status quo that travelers should be expecting bad things to happen on their trips by eliminating irregularities and speeding up many processes.
🧐 Today's Infographic
In Other News
Shaurya Malwa
William Suberg