According to recent media reports, the artificial intelligence travel platform Travelport, IBM and travel management company BCD travel are jointly developing a blockchain platform to simplify the hotel commission reconciliation process.
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According to a press release on August 20th, the companies are working together to develop a blockchain-based platform to optimize hotel commission processing. Specifically, the purpose of the product is to track and calculate the commission owed by the hotel when the passenger purchases the service through the booking agency.
Travelport and IBM are working within the framework of the IBM Garage project, a project that advises customers who want to experiment with new technologies and find new ways to build applications. In this collaboration, industry stakeholders participated in the project to incorporate the project into a positive pilot project. Ross Vinograd, Senior Product Director of Travelport, said:
“For example, changing a hotel room, giving up a reservation, and free accommodation can result in a difference in commissions, which in turn can lead to service upgrades, cost and lost revenue. Our goal is to put the lifecycle of the booking on the blockchain. We believe that doing so will increase transparency, trust, and ultimately increase bookings."
On August 20, Cointelegraph reported that Glenn Fogel, who was recently appointed CEO of Booking.com, believes that blockchain-based cryptocurrencies will continue to grow and may become more popular. . When asked about the future of the travel payment system, Fogel stressed that this needs to be seamless, adding that data security must be prioritized.
The world's tourism leaders are gradually turning to blockchain technology. Recently, UAE national airline Etihad Airways partnered with Winding Tree, a blockchain travel platform, to explore how the blockchain can help improve distribution.