The Distirbuted-Ledger-technology (DLT) promises everywhere there is a value, where it is complicated transactions between multiple parties to keep track of. So also in the travel industry. IBM has launched together with Travelport now has a new Blockchain-solution for travel agencies and Hotels. The developers promise to simplify the work processes in the industry is crucial.
By Anton Livshits
22. August 2019BTC$10.072,54 0.76%part Facebook Twitter LinkedIn xing mail
IBM is developing in conjunction with the travel technology provider Travelport, a Blockchain platform for hotel commissions. As from the announcement of Travelport shows, want to optimize the cooperation partners as a result, the allocation of commissions between Hotels and travel agencies. In the project of travel management companies BCD Travel and three „prestigious“ hotel are also involved chains.
the goal of the collaboration is, „to put the life cycle of a booking on the Blockchain“. Changes and additional bookings could be this way in real time to track. Travelport and IBM promise that both Hotels and travel agencies will benefit from the project. The Benefits for travel agencies is here, first of all, to be clearer on the Hand.
Travelport provides travel agencies with more planning certainty in view
Ross Vinograd, Senior Product Director at Travelport, insights, explained to Ledger that it is for travel agents schwirieg to keep changes to your booking, in the view of properly accounting for. He meant to continue:
We have a total of 69,000 travel agencies, working together with more than 650,000 Hotels. While our platform facilitates the transaction, agree agencies and Hotels commissions offline about an outdated process that is littered with Excel spreadsheets.
As a consequence of this analogue approach learn travel agencies the amount of their commissions until 60 days after customer Checkout. Consequently, they often have problems to determine the exact amount of your revenue. The Blockchain-solution means for you is, therefore, a greater planning security. Of which could ultimately benefit the Hotels. For to long many of the travel agencies handle the process of booking platforms such as Expedia, which provide an immediate Overview of Commission rates in view. A simplification of this process would generate for travel agents, however, new incentives, travel bookings directly with the Hotels to make. As Ledger insights notes, it would also increase the transaction volume of Travelport.
Kurt Wedgewood, head of IBM’s Blockchain – Travel, stressed in his Statement the potential benefits for the whole of the travel industry:
the elimination of The hours spent for the treatment of cases of dispute or for the timeliness and accuracy of the information, it allows all participants to concentrate on the Essential: the traveller.
The project is still in an early stage. Travelport, IBM and BCD Travel but want to start soon a pilot program. The technical basis for the Hyper Ledger Fabric of IBM is used.
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