The year 2018 has been far from good for the crypto trade market, however looking at the brighter side, Blockchain technology has finally come out of the shadows of volatile crypto prices, to find its foot and wider acceptance. Various real-world use-cases of the technology have come up in the…
The biggest beneficiary from the implementation of blockchain or decentralized network is Travelling industry. Airports in different countries have been at the forefront of promoting cryptocurrency use, with various payment option in digital cash.
How Does Travel industry Benefit from Blockchain Implementation?
The problem with any of the system is its centralization and following of old-age traditions of the corporate world. These systems are dependent on the mercy of a selected few at the top and middlemen have a monopoly over the beneficiaries aimed at consumers.
The current system is so flawed that, even for booking a flight, you have to involuntary use a third-party booking service, which charges the customer apart from the fare for the ticket.
Blockchain has been designed for putting these middlemen out of the picture. There is a direct interaction between the service provider and the consumer. If airports put their ticket booking on a blockchain network bound by smart contract, everything gets taken care of without any possible middlemen intervention.
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Source: BTC Wires