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How Travellers Can Benefit From Blockchain

How Travellers Can Benefit From Blockchain

Main sectors of #Blockchain application in the #tourismindustry

Gregory Simon, CEO and co-founder at Ribbit.me, identifies four main sectors that Blockchain could be applied in: #money , #passports , #reservations and #insurance .

Money: Blockchain travel application is about money. Bitcoin payment from a smartphone to a foreign currency exchange is an expensive procedure. If it is not possible to pay with Bitcoin, another cryptocurrency application is more beneficial through worldwide Bitcoin ATMs or converting fiat money from Bitcoin to local currency through a crypto exchange. Another crypto application is Loyalty Network at Ribbit.

Passports: On the blockchain we could be storing important documents such as passports, visas, permits, identification cards, and driving licenses.

Reservations: Travel DAC (distributed autonomous corporation) like Ethereum blockchain shows the way. By this, a traveler could be more efficiently organized.

Insurance: Travel insurance through decentralized peer-to-peer are viable alternatives, as it is cheaper and offers more transparency.

... There are a lot of problems that the #Bitcoincommunity should solve. .. it has to create fast working services for Bitcoin. For example, if a hotel receives Bitcoin, it should be able to buy something or pay bills with Bitcoin.  

.....when someone pays using Bitcoin, a merchant converts Bitcoins into dollars. As the value of Bitcoin goes up and down, it is necessary to create an economy solely for Bitcoin. It therefore needs funding from VC or support from the Bitcoin community to do so.......

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