12 months ago, you could not move without hearing about Blockchain in one way or another. The technology was going to take over the world and revolutionise everything. So 12 months on, where are we?
You would be forgiven to think that Blockchain has gone away. That would be largely down to the fact that the Bitcoin news has gone quiet as the Cryptocurrency market continues to fall out of favour.
There have also been a number of high profile cases where people have expressed concerns over either security or performance; key tenets of why Blockchain was supposed to be good in the first place.
What Has Really Happened?
It would be true to say that the Blockchain bonanza helped spawn hundreds if not thousands of blockchain ‘experts’ who developed the square root of nothing (although some managed to build some really, really bad solutions).
However, there are some very serious organisations that are still, quietly, developing some really exiting projects. Nowhere is that more apparent than if you look at the implementation of Blockchain in the travel market.
Blockchain and Travel
The travel market is interesting because it augments a number of perfect Blockchain uses cases into one:
- Insurance – check
- Contracts – check
- Transactions – check
- Tracking – check
- Security - check
There is a very real future not so far away that will see the Blockchain integrated from the moment you book your ticket, to the moment you get home. Here are a few examples in a little more depth.
Bookings and Payments
Currently the GDS is king, and with API technologies, they provide a great service to many organisations. Unfortunately, they are limited. With Blockchain’s global ledger, transactions and booking become transparent, secure and simple to access without the lock-ins normally associated with the GDSs.
Hands up who has lost their luggage only to have it delivered days later in a dubious condition? I am not saying Blockchain can take that pain away - lost luggage will happen - but Blockchain will provide a truly centralised and secure solution that will allow travellers to hold companies accountable.
With today's challenges, being able to prove you are who you say you are has never been more important. Blockchain has the potential to be the go-to technology which has the capacity to drastically reduce check-in times, or queues in airports, with a simple finger print or retina scan replacing the need to show documents.
So - Is Blockchain Dead?
No, far from it. Like every good technology, it is just quietly getting better, changing the world bit by byte.
If you would like to know more about Travel Safety, and how we are providing Travel Safety for everyone, you can visit us at www.etravelsafety.com. You can also find us on Facebook, LinkedIn and Twitter!