Blockchain – the latest buzz word in the digital world – is coming to a travel platform.
If Bitcoin sounds familiar to you, then Blockchain should not be too foreign because these two terms are intricately related. Blockchain is the vehicle driving Bitcoin and this technology is slowly and surely creeping into every aspect of our lives.
The future of travel is here.
Switzerland-based Winding Tree, a new blockchain startup aims to make travel cheaper for individual travelers and more profitable for providers by employing a blockchain-based decentralized open-source travel distribution platform.
We make travel cheaper for the end user, while making it more profitable for suppliers.
Winding Tree’s main selling point is doing away with centralized control. That means no exorbitant transaction fees and no barriers for entry. Moreover, decentralization allows small companies to compete with big players, finally bringing innovation back into the travel industry.
Winding Tree has some very impressive partners supporting their work.
Air New Zealand – a partnership with Winding Tree aims to explore applications of blockchain technology in the airline’s business. The main focus will be to investigate whether the tech can enable New Zealand’s flag carrier airline to improve the security and efficiency of services that include baggage tracking and ticket booking, according to a Reuters report. Air New Zealand is also keeping their options open to use blockchain technology on their loyalty programs and distribution.
Air New Zealand has also revealed that it is investing an undisclosed amount in Winding Tree’s token sale (or ICO), scheduled for January 2018.
Lufthansa’s partnership with Winding Tree is slightly different. They aim to develop a blockchain-based travel marketplace powered by a cryptographic token.
Here is the complete list of partners.
Winding Tree is raising funds through an ICO (initial coin offering) soon and the token is called Lif. You can find out more here.