Blockchain is a shared public ledger underlying the Bitcoin network. It chains transactions together in blocks which are then encrypted. This makes these transactions extremely difficult for hackers to access the information. It also creates a permanent record of all payments as blockchains exist forever and can’t be removed. This means that each blockchain is an accurate, long-term record of a person’s transaction history, as well as other data such as credentials and reputation.
This technology could impact the travel industry in huge ways! For vacation rental companies, like Airbnb, each blockchain could let guests check the authenticity of a host, and vice versa. Verification is one of the most problematic things for these communities as people can create fake profiles or delete one if it gets too many negative reviews. A blockchain would create a permanent record that would help ensure trustworthiness.
Transaction history on booking sites like HomeAway and Airbnb could also be shared with third party companies as part of a credit file to paint a more complete picture of somebody’s payment history. I’m sure there are more things that I am missing because blockchain technology is so cool, and could be used many different ways to impact the travel industry.
The XcelTrip decentralized travel portal establishment will guarantee that travel progresses toward becoming something that everybody will appreciate. At last and in particular clients would most likely profit by all these aspects that will change the travel business and will almost certainly use XCELToken on the stage to pay for their travel.
Travel with the most economical and the best-decentralized travel portaltoday!
For further information on Blockchain and the Travel Industry check out the blog here: https://medium.com/@xceltokengo/travel-industry-needs-massive-blockchain-disruption-ad24fe275d57