How the Travel Industry Has Changed?
The travel industry has changed quite a lot within the past few years. With new technological innovation, travel industries have found new ways to store the data in a much more secure place. After the investigation of blockchain technology, travel industries have found the blockchain concept quite interesting. Today, most of the companies are formulating new modules to implement the blockchain practically.
How does Blockchain technology work?
Before we start with the influence of blockchains has brought in the travel industry, let’s have a small discussion on the blockchain technology to understand what actually blockchain is.
Blockchain technology is nothing but a network that works on the public ledger network. All information shared on the public ledger are shared with the members of the blockchain network. With the blockchain network, the information will be visible to every member, but no member will have any access to make any kind of changes.
How can Blockchain benefit the Travel Industry?
If we are looking for the advantage that the blockchain technology will have in the travel industry, then it will be transparency, stability, and security. Blockchain technology is a decentralized technology that means it can never go offline. Hence, there will never be a chance where you have to worry about risking your data.
Travel companies transact huge amounts of information from different platforms. For instance, travel agents are required to give the passenger details to the flight companies and to the hotels. While all the personal belonging of the passengers is tracked from the flight to the hotel.
To transact this amount of data can be very difficult to handle. This is where blockchain technology comes into the frame. With the help of the blockchain, you will be able to store information on the passenger. Not only that you will be able to track every information as well.
Potential uses of the Blockchain in Travel Industry
Block has already left a noticeable impact on the different industries, most probably the travel industry will be the same. Let’s hover around the possibilities that blockchain might bring for the travel industries.
- Identification services
The most needed services for the traveling purpose are the identification services. However, there are times that the database gets corrupted due to some external threat making the database worth zero. And without the right identification ID, you will not be abler to move from one place to another.
But with the help of the blockchain technology, all the information is shared on a public ledger network. Hence, the information never goes offline, making it much more secure than the traditional database.
- Tracking luggage
It has always been a hassle for the passenger to keep track of their luggage. The data is so huge that the flight associations are not able to manage it properly. This is the reason why every day hundreds of luggage are lost worldwide.
But with the help of the blockchain technology, tracking the movement of the luggage will become easier. There are even times that for one luggage transfer, it changes multiple hands.
- Secure payments
Perhaps this part of the travel is most influenced by the blockchain technology. Blockchain technology can help you to pay your hotel bills in Cryptocurrencies. There are several platforms that help the users to pay utility bills and other bills in the form of cryptocurrencies. One of such payment apps is the cryptosoft. With the help of this, you will able to pay up yousr bills.
Blockchain is still its experimental phase, where different industries are trying several modules to implement practical use of the blockchain. Even if the blockchain is in its experimental phase, it has certainly proved itself to be one of the emerging technologies.
At the rate blockchain is developing itself, you can be sure of one thing that it will be the next big technological innovation that world will ever see.