Hey everyone, first of all I would like to welcome you to my new contribution and hope you have a week so far which is full of interesting experiences! Today I would like to go into an interesting topic that might interest one or the other and hope you are able to expand your knowledge.
The blockchain offers solutions in different areas and can be of great interest to entrepreneurs and it can be observed how in more and more areas companies are looking for solutions in this area. Also in the travel industry there are numerous examples of projects that strive for blockchain solutions, but it's even more of a vision of the future in some areas and here there is potential in many respects with possible upward growth. If someone takes a close look at the numbers of the travel industry, the person will quickly notice how large it is and even one of the largest industries in the world that creates millions of jobs and every year over a billion tourists travel to other countries. It's a long chain which must be maintained and here of course digital solutions can be of great importance and not only help to save resources, but also to protect the environment and blockchain could offer solutions for pretty much all areas of the travel industry. Some major airlines or other people in this industry have already recognized the potential and it can be a solution for investors, travellers as well as service providers and below I would like to go into more detail of examples.
What advantages could the blockchain offer?
One of the most important points that are highlighted again and again in connection with the blockchain is certainly the creation of transparency and this is also important in the travel industry to handle information in such a way that it's as counterfeit-proof as possible. There are often some vulnerabilities in the field of security such as data leaks or systems that are very vulnerable to attacks by hackers and here blockchain solutions can in any case provide more security which at the same time goes hand in hand with an increase of trust.
A big factor is also the speed and in seconds transactions can be processed in such a way that no central party is needed in the middle anymore and for the traveler this has the advantage that the trip is also cheaper because the commission does not get stuck somewhere and this direct exchange between seller or customer can be easily handled via the blockchain.
These fast transactions can also be implemented in hundreds of other areas such as airports when it comes to the transport of luggage and this also has the advantage that things can be handled quickly and counterfeit-proof. The sale of airline tickets, hotel tickets or other services can also be transferred to the blockchain and this also saves a lot of costs and is also more environmentally friendly.
A major factor here are also automated processes which can be handled by blockchain processes such as via smart contracts and in the places where there are always problems, solutions could be found here which are due to the increased transparency. Programs such as collecting miles or other benefits can also be transferred to the blockchain without major problems, but it also offers the advantage that things can be documented as safely as possible without a third hand manipulating anything here.
An important factor is probably also the checking of official documents which are necessary for national or international travel and a good example is the verification of documents and blockchain can also help here to check passports faster as well as to ward off possible dangers or minimize inconsistencies. Of course, there are many more things for which the blockchain could be interesting when it comes to this industry, but I think these are one of the most important.
What are the disadvantages?
Even if all these things are of course great and lucrative for service providers or travellers, there are always hurdles that should not be neglected, which is why many things are still a vision of the future or blockchain solutions can only be partially used. A big factor is that many things are simply still too new and the acceptance is not high enough, which leads to a rejection of many participants, and there are also numerous hurdles from the point of view of the regulations. Often the high consumption of energy is also doubted and care must also be taken to ensure that important jobs are not displaced because this does not solve problems but creates new ones.
Not every company has the necessary money to make investments in this area and therefore it are probably currently only large service providers such as airlines that are already working on solutions and investing money in these areas and some are also very tied to certain infrastructures which makes it not easy to bring about fundamental changes. If one center is already working on blockchain solutions, but the other does not yet, it will come to problems of acceptance and compatibility which is why a chain would never function as some would like, but slowly but surely the industry could get to this point and some large airlines such as Swiss Air, Lufthansa or more are already very interested in blockchain solutions.
In the future, I will write more about this topic and mention some projects or direct examples. I have created these pictures with the help of the AI tool of 