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Disruption in travel is ripe simply put, due to lack of innovation possibly the last innovation was back in the 1990s or early 2000 with Expedia.
Most companies have heard about bitcoin as a payment tool with companies such as Expedia accepting it as a payment method for the benefits of low fees and no chargebacks but is that really innovation is the real question?
The true innovation stands on the underlying technology called the blockchain in which you have governments along with the fintech scene investing 100s of millions into the research of potential applications they can benefit from.
One of the largest sectors that has been overlooked is Travel and even the companies in Travel have overlooked this innovation.
DT-Chain a new ledger that enables the travel sector to take advantage and discover ways to discover user cases.
To not make it too complicated the need to look at four ways to use this technology Convenience, Savings, Assurance and Community some of the most common use cases will be customer loyalty programs which become costly and mostly non beneficial the customer.
Disrupting Air Miles which is already on the decline.
It has been estimated that 60% of Air Miles have never been redeemed and frequent flyers are looking for something other than flights to use their Air Miles with, This is also beneficial to the airlines and supporting channel partners that 60% has never is redeemed. But recently Air Miles rewards have also been reduced.
Disrupting Air Miles can be achieved in a very elegant approach by replacing it with a Tokenized tradable reward token that not only can Airlines participate in but also small business such as coffee shops, Bars or attractions even. This is very possible when using blockchain technology and by using DT Chain which is a permission based network also provides more than security but trust in who is supporting the network.
Other benefits from such innovations and using the DT Chain is the travel sector can support the network and also earn supplement revenues by becoming a part of the network in the form of a permission based node that participates in supporting the shared distributed ledger in the form network fees.
With nearly 1.2 billion travellers a year it is hard to keep up with innovation when you have to focus on Big Data, future focused on business innovation, customer relevance and business sustainability along with the constant price wars to retain customers.
DT-Chain is opening up to join in with the travel sector to explore user cases that can benefit their business and to gather information regardless what type of business Hotel, Restaurant, Gift shop or even a tour operator looking to experiment and innovate.
Currently DT-Chain is exploring Travel club memberships on how to protect the traveller PRM “ Personal Rights Management” due to memberships and database being hackable this provides a risk to any business with a website and online database along with exchangeable memberships if this provides benefits to a club and consumer alike.
Air Miles user case with a native DT Token is currently being explored to partner with businesses in the travel sector to evaluate the economics value to the end user and business alike but with OPT In and OPT OUT facility “if you wish to redeem it against value such as coupons or gift cards in a digital format over the DT Chain public ledger”
Following on project from E-Drachma 2015 in which live testing with locals and travellers on the small island of Agistri, Greece to establish the reaction and how they could adopt and use such a technology “2015 was more payments oriented”
Examples of some user cases on the exploration whitepaper E-Drachma for 2016