Over the past few years, Blockchain technology has generated considerable excitement across many sectors. This is largely because it has the potential to radically change the way transactions are conducted, improving transparency and security.
In fact, today, it is possible to pay for your airfare or other travel services with crypto-currencies. This is a breakthrough for the travel industry.
Luggage Tracking
Blockchain technology can be extremely valuable in tracking luggage movements, especially when it comes to international travel.
In many cases, a customer's luggage changes hands several times during a trip. Using a decentralized database makes it much easier to share tracking data between companies.
Identification Services
Identification services are extremely important to the travel industry, and blockchain could potentially become the standard for storing this information.
Used in this way, the technology has the potential to significantly reduce check-in times or airport queues, as a simple fingerprint or retinal scan can replace the need for a document.
Secure and Traceable Payments
Perhaps the most important use of blockchain technology in the hotel, tourism and travel industry is related to payments.
Here, its applications can range from a global ledger function, making payments easier and more secure, to allowing travel agencies to accept payments using crypto-currencies.
Customer Loyalty Programs
Finally, many travel agencies are implementing loyalty programs to encourage personalized returns.
Blockchain can also help with these programs, by simplifying the process, allowing customers to more easily access their loyalty point information and simplifying token distribution. It can also help combat fraud in this area.