Articles tagged “winding tree”

Some entrepreneurs and scammers are treating initial coin offerings like get-rich-quick schemes, and the travel distribution ecosystem isn't immune. Beware of people who say they can totally disrupt the travel industry, especially if they don't even understand how the industry works.

Anyone remember Google Wave? Air New Zealand, Lufthansa, TUI, and a whole bunch of investors and techies are betting that blockchain fulfills a lot of promise and exhibits a ton more staying power than previously-hyped technologies that didn't hang around very long.

It is easy to see why Lufthansa, which sells flights and ancillary services, would be interested in blockchain. Airlines, hotels and tour operators might be able to use blockchain to dramatically reduce their distribution costs. At this stage, it is hard to tell how close this is to being a reality, and how fearful online travel agents and others should be.

Blockchain is essentially a large immutable database which, due to its security features and decentralized nature, can pose a threat to traditional intermediaries. Companies are looking to expand blockchain to tackle the current travel distribution landscape.