Travel booking in the United States was dominated primarily by two large companies, Expedia and Priceline (which own all other major sites) . But Blockchain technology is about to change all this with a new non-profit system offered by TravelChain.
The company announced that it would provide users with a method of travel booking that will bypass the current monopoly of travel to the United States. . The concept is to use Blockchain to entice its users to post comments on travel using TravelTokens, the internal cryptocurrency system.
The announcement was followed by the presentation of the platform to participants of BlockShow Asia this year. The team coined the term "travel" – a revolution in the way travel takes place. The announcement was a statement on the platform, and the many ways this will change the way travel and rewards are earned and distributed.
"An amazing event, the best we have ever attended! Good people, good organization, lots of contacts and important meetings." We were able to meet 2 new advisors (one of the best Christoph Herring from the Bitshares Committee) and talk to many investors, "TravelChain commented on their experience at BlockShow Asia 2017.
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Passage to the Ethereum
Rather than releasing the system on Ethereum, as The TravelChain team had planned to use their graphene-based internal blockchain technology, in the hope that this system will provide smoother and faster transactions, especially given the massive slowdown in Ethereum block chain.
TravelTokens can be converted to fiat currency on exchanges, or used in the system. The main benefit for the industry will be a system that is free of dominance by for-profit companies. because the platform is a peer-to-peer network, this will provide direct interaction between users, beating Airbnb to its own game.