Blockchain technology applied to the travel industry

The blockchain is the future and we must be prepared for its impact.A technology that will change the world and where we have to keep working.

Few sectors of the global economy work with as much personal information as travel. Industry-wide providers manage billions of passenger data, which is a risk and an opportunity at the same time. And a new technology is coming to reduce the risks and increase the profit potential in the industry: the blockchain, or chain of blocks.

Data scientists know that the quality and security of information are sensitive issues and can lead to the ruin or profit of a company. The blockchain attacks precisely the frauds. This new technology means that certain information added to a database can only be entered if it is legitimized by all the agents involved. That is, consensus is required and, once inserted in the database, the information can never be withdrawn. The registry, "purified" by the legitimacy of the guarantees, will remain there forever.

The information of a passenger is unique. If it is validated in a reliable and centralized database, it can reduce or even eliminate the need for so many identifications during a trip. It will be a new experience at the time of booking, boarding, check-in, etc.

For the agencies, one of the pillars of the modification that the blockchain will bring will be travel payments, especially at the international level. In a sector so sensitive to fraud and with great complexity for establishing the flow of resources, especially when there are several countries involved, the agility and transparency of payment methods will be important facilitators that will help reduce costs and increase sales. .

For the industry, the challenge of these new technologies is to amplify them so that they are available to the greatest number of professionals, not being restricted only to companies with strong economic power. It is essential that companies work together so that the blockchain is a democratized technology, usable by smaller agencies and large OTAs (Online Travel Agencies).

Amadeus has developed a very interesting study about the positive impact Blockchain can have on the industry, and has also produced a video to better explain what this technology can bring in ease and transparency