Tourism and blockchain, both are growing at an incredible pace. Plus, the nature of blockchain allows us to integrate it with the travel industry in order to bring innovation. Since tourism is a major source of income for some countries, they are quite willing to embrace this change.
Please note that the idea is not entirely new. In the last couple of months, we have observed a variety of travel search and booking sites accepting cryptocurrencies. So the wave is already building and this is the right time to advance it.
Why is it important?
Because the current market trend requires a win-win situation. Both travelers and booking agents must enjoy the benefits.
For instance, the travel industry depends on a great deal of personal information. Since centralized databases and servers are prone to cyber-attacks, blockchain has the potential to inculcate trust in both parties.
Moreover, blockchain cuts off the need for any intermediary, therefore, travelers do not have to waste their money in paying commissions. As a result, heavy travel costs will come down to a bare minimum.
Some of you might be thinking that this tech is unachievable at the moment. But as mentioned above, a couple of travel sites have already implemented the financial use cases. One of the core reasons is that it allows interoperability.
Using crypto on the move
Its utility is not only limited to the security of booking details. In fact, if the entire industry adopts it, travelers will be able to pay for different services in crypto. So you must have understood by now that blockchain is indeed a great innovation.
Another significant perk is that the travelers do not have to hit currency exchange outlets every now and then. They just have to convert their token(s) on an online exchange and pay seamlessly.
For example, please consider the Noah Ecosystem. It allows different packages and some of them are quite grand, such as beach vacations! Just imagine paying for such a luxurious vacation with crypto!