Blockskye, Arise, and Dtravel on Blockchain in Action for Travel
Various players in the travel industry have been exploring – and debating – blockchain-based solutions for a year.
A few years ago, as PhocusWire began to dig into this topicopinions were mostly polarized – some touting it as a revolution in the making and others calling it a passing fad.
Fast forward to 2022 and there is more consensus that blockchain can provide a smarter, faster and more secure mechanism for transactions of all kinds, which in travel can include booking, payment, rules and identity.
blocksky, Arise and travel are three of the companies operating blockchain-based travel systems today.
During a session at The Phocuswright Conference, Blocksksye co-founder and co-CEO Brook Armstrong said the company – focused on business travel – currently handles around 2,200 transactions worth $1-2 million a day. Blockskye’s partners include Kayak and United Airlines and it enables direct bookings for a large corporate client.
According to Arise co-founder and CEO Nadim el Manawy, Arise operates a similar distributed ledger-based network for transactions between hotels and travel sellers such as online travel agencies and management companies. of travel. And Cynthia Huang is responsible for demand growth at Dtravel, which uses blockchain to power direct booking websites and a direct booking engine for vacation rentals.
In discussion with Norm Rose, senior technology and enterprise market analyst at Phocuswright, panelists discuss how blockchain enables a new model that shifts ownership and management of data to individual users and creates a source of truth transparent and scalable between the parties to the transaction – enhancing security, efficiency and revenue.
Watch the full panel discussion below.
Executive Panel: Blockchain – Game Changer or Bust?