There are plenty of them regarding the advantages that Blockchain technology can offer to the travel industry. An important one is stability and security. The decentralized nature of Blockchain technology is something that will allow the travel industry never to go off-line. Also, it will prevent any accidental deletion of data and chances of a cyber attack like Immediate Edge app. Therefore, the transactions will be more traceable at any point in the travel industry, making them even more flexible and reliable for the user. Different companies form the entire travel industry, and there needs to be a network. It is not because they should divide information but for stability.
There is a significant factor in doing so: financial transactions. It forms a very vital part of the travel industry as, without financial stability, nothing can be facilitated to the customers. Blockchain technology has plenty of things that the travel industry can use. The capacity to make the payment simply without any threat to the system is undoubtedly an advantage that Blockchain technology can offer to every industry. Also, with Blockchain technology, people’s trust will be higher among the parties dealing with the travelling service providers. So, Blockchain technology can have a lot of potential uses in the travel industry, and a few of them are given here.
When a person is going on an international trip, there are a lot of times when the luggage is transferred from one company to another. It can be a lot complicated for the customer to keep a record of all these companies and their switching of luggage. However, Blockchain technology can help in this department. With a decentralized record database for the luggage facility, the companies can transfer tracking services for the customer’s luggage. Therefore, it will be easier for the customer to see if the luggage is given from one country to another through the different companies. Also, the tracing services will be readily available to the customers making it very easy for people to transfer their luggage from one place to another.
When it comes to the travel industry, identification is crucial. It forms a crucial element because travelling across the country is impossible without clear identification. However, without blockchain technology, identification services are straightforward to the customers. With Blockchain technology, the process can be a little more sophisticated, and also, it is going to raise industry standards. There is a lot of time consumed in the identification processes through the traditional media. However, blockchain technology can provide a better option for identification services. It will have better speed, and hence, less time will be consumed in check-in. Also, fingerprint scanning and other such document verification processes can be done faster.
Loyalty Schemes For Customers
The travel companies deal and launch many initiatives to get back the customers who have used their services once all many times. However, it has been straightforward and sophisticated for them with the help of loyalty schemes. They want to attract customers by providing them with additional services like after-sale services or future travels. So the loyal customers get loyalty schemes. It can be a free trip or accommodation, which is only possible if the data is traceable for the customers and the company. With Blockchain technology, it becomes straightforward for the company to trace the customers who have been using their services for a very long period. Also, the customers can keep track of their loyalty points and avail themselves of the services from time to time provided by the company.
The payment system needs to be very secure whenever it comes to international travelling. If you travel across the geographical boundaries of your country, you must make sure that the payment options you are using are very safe and secure. However, without Blockchain technology, it can be a little bit complicated. Hence, with the adoption of blockchain in the travel industry, many things will be sophisticated, like traceable payments and high security. When the payment system is safe and secure, you do not have to worry about your payment, and you can enjoy your trip to the possible limits. Also, it will increase a sense of belonging towards the company and hence, people will be more attracted to travelling.