IBM and Travelport Unveil Blockchain for Tourism Commissions
Travelport and BCD Travel are teaming up with IBM Services to create a blockchain solution to the reconcillation of commissions. The aim is to harness the immutability of blockchain to ensure hotels, agencies, and websites can track customer bookings.
AN MVP solution has already been developed and trialled with three large hotel chains. Following the success of the MVP testing, the partners are now aiming for a trial product.
Tracking customers' bookings, points of contact, no shows, and payments is a long established challenge in the tourism industry. By taking advantage of a distributed ledger, records become reliable and open to all stakeholders to inspect.
On the efficiency potential, Kurt Wedgwood, IBM Blockchain Leader - Travel said, "Eliminating the hours spent addressing dollars in dispute or the timeliness and accuracy of information allows all participants to focus on what matters most: the traveller.”
"Our aim is to put the lifecycle of a booking on the blockchain and we believe doing so will drive transparency, trust, and ultimately booking volume,” commented Ross Vinograd,Travelport’s Senior Product Director.