Over the past few years, Blockchain technology has generated a lot of interest in many sectors of the economy. This is largely due to the fact that the use of this algorithm can radically change the way transactions are conducted, increasing transparency and security.
In fact, today it is possible to pay for flights or other travel services with cryptocurrency. This is a quantum leap for the travel industry.
Baggage Tracking
Blockchain technology can be extremely valuable in tracking baggage movements, especially when it comes to international travel.
In many cases, the customer’s luggage changes hands several times during the trip. The use of a decentralized database greatly simplifies the exchange of tracking data between companies.
Identification services
Identity services are extremely important to the travel industry and blockchain has the potential to become the standard for storing this information.
When used this way, the technology can dramatically reduce check-in or queue times at an airport, as a simple scan of a fingerprint or retina can replace the need for multiple documents.
Security and payment tracking
Perhaps the most important use of blockchain technology in the hospitality, tourism and travel industries is in payments.
Here, its applications can range from a global ledger function that simplifies and protects payments, to the ability for travel agencies to accept payments in cryptocurrencies.
Loyalty programs
Finally, many travel agencies are implementing loyalty programs to reward personalized rewards.
Blockchain can also help with these loyalty programs by simplifying the process by allowing customers to more easily access information about their points / bonuses, etc. and simplifying the distribution of tokens. The technology is also extremely useful in combating fraudulent activities in this area.