5 Major Advantages of Using a Blockchain In Travel and Tourism

Travel and Tourism is the largest service industry in the world that serves the number of people and also accounts for the high global revenue. Travel and Tourism is not just a pocket-sized industry as you think. Let us look into the Benefits of Using Blockchain In Travel and Tourism.

1. Decentralized Booking 

By using Blockchain Technology in  Travel and Tourism, we can make a decentralized booking system through which travelers can book flights directly with airline service providers. This reduces the problem of Overbooking and this decentralized booking method can offer a better experience for the customers.

2.  Eliminations of Flight Delays 

When blockchain is implemented in the travel industry, the complete details of travelers are stored in the public ledger and the airlines can access all the documents of the travelers when they enter the airport. This eliminates the long queues for the authentication process, in turn, reducing the flight delays.

3.  Secured Payments

As blockchain is a decentralized ledger technology, the payments through this network can be more transparent and secure. The travel industry can also make use of this technology and also can accept payments using Bitcoin and other cryptocurrencies for customer engagements.

4. Trouble-free Baggage Tracking

The biggest issue faced by the travel industry is missing baggage. This loss of baggage is due to handling the baggage by various parties. This issue can vanish the whole reputation of the travel company.

Thus the use of blockchain technology can enable a decentralized and transparent system for Baggage Tracking which relays on smart contracts and it is automated.

5. Loyalty Schemes

Many airlines involve customer loyalty schemes for encouraging the return customers. Thus the use of blockchain technology can also simplify this process, which allows customers to easily access information about tokens and loyalty points. This also helps in reducing fraudulent activities.

There are a lot more benefits when blockchain technology takes over the complete processing of the travel industry. Thus, this distributed ledger technology can make travel and tourism more simple and safer.

Source >> How Blockchain Technology Can Transform Travel and Tourism Industry ?