Blockchain To Streamline the Travel Industry
Blockchain is already disrupting several industries; from transportation to healthcare, logistics, finance, and even government. There is literally no industry where this decentralized nascent technology is not finding footing. The global travel industry is also set to explore some streamlined solutions using blockchain.
Condominium, a blockchain project announced a decentralized system that will allow members of the network to travel to anywhere in the world by using a “vacation currency”. The network which adopts a Proof of Stake protocol is trying to tap into the enormous digital travel industry, which is expected to exceed $190 billion in sales, this year.
Although digital transactions are becoming the preferred choice due to their convenience, the market place is still quite ambiguous, with multiple players. A typical travel itinerary involves booking of a journey with a travel agent, who in turn communicates with flight companies and hotels. Condominium wants to use blockchain to make the process more secured, reliable, and easy. They aim to release an all-encompassing “travel partnered platform” where users can book and fund their travels.
The platform is planning to host over 500 airlines, hotels, and routes, an integrated payment framework, as well as a payment gateway that will allow users shop from online merchants by using the CDM tokens. In general participants will be able to book flights and hotels, rent car services, pay for travel packages, and purchase from a wide range of online retailers on the platform.
According to their website, the full roadmap and more information on how exactly they will try to build partnerships with travel companies will be released in the first quarter of 2019. Although Condominium is a top 50 marketcap (according to Masternodes.Online) masternode startup, they haven't yet announced their team members and at the time of writing aren't registered as an official company.