Blockchain Technology in Travel Services? Yes, finally, it is coming true. New Zealand’s national airlines, Air New Zealand, is exploring the use of Blockchain technology and integrating it in potential cases, such as baggage tracking and booking through a partnership with Winding Tree.
In an announcement, the airlines confirmed that they are looking into the Blockchain technology for use in several services, such as cargo and baggage tracking, loyalty programs, retail airfares and securing information.
Their aim is to rule out the mediators and connect companies and startups directly to service providers through Winding Tree’s B2B marketplace established on an Ethereum-based Blockchain. The platform will allow for Blockchain-based trades, with both of the parties profiting from a more straightforward and effective information sharing method, while going through lower transaction fees.
The Airline’s chief digital officers stated that the airline is excited to use Blockchain’s potential to tap into new innovation, and expressed the possibility for an entire new business innovations and models.
Furthermore, the airlines states that they believe that using the Blockchain technology will provide them with a more streamlined way to retail airfares, along with supplementary products on their current channels. By removing the current complexity from the sales chains, the customers will be benefiting from secure and swift sharing of information and from reduced transactional costs.
Air New Zealand exploration into Blockchain applications comes right after Germany’s Lufthansa Group, an airline giant and regarded as one of the world’s biggest airlines operator revealed development of numerous Blockchain-based travel applications for customers.
The airlines states that in the future, hotels, airlines and all travel service providers will be offering their services on Winding Tree’s platform. Adding to this, they further states that a company interested in offering content will connect to B2B Blockchain-distributed marketplace in order to present specific offers for their customers.
Lufthansa group also participated in Winding Tree’s public presale of the ‘Lif’ tokens, which signified that the group shows a strong trust in this Blockchain startup. Following this, Air New Zealand has also expressed that they will be participating in January’s token sale as an investor.