Blockchain has been one of the most talked about concepts of 2018 - not least in travel, where its development is touted by some as the future of distribution and security.

While the value of Bitcoin has fluctuated wildly from a high of more than $19,000 one year ago to around $3,700 today, the framework underlying this and other cryptocurrencies has been on a more stable – and upward – trajectory.

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Mainstream companies across a diverse mix of sectors are experimenting with blockchain technology.

Companies such as American Express, J.P. Morgan, the United Nations Development Programme and the U.S. Centers for Disease Control and Prevention are investing time and resources to develop blockchain-based products, services and operational processes, lured by its promises of consensus, immutability, speed and decentralization.



In travel, blockchain is being used to develop new systems for distribution, loyalty, identity, operations and more, topics we explored in depth in February.

Ethan Chernofsky, vice president of marketing for multi-sector blockchain network Orbs Group, says one measure of whether the technology can truly disrupt travel is if it can eventually create real value for consumers.

"The ultimate process of the technology is centered around making the end user a fundamental part of the value exchange and not just enabling advertisers to better target and understand audiences. If users begin to see real value, the floodgates could open,” he argues.

While companies including IBM, Travelport, SITA and TUI Group are actively exploring blockchain, much of the work in travel is being done by younger businesses, initiatives built from the ground up with blockchain at their core.

Startup-led culture

We reached out to more than a dozen companies developing blockchain solutions for travel and invited them to provide a description of the product they are developing, noteworthy activity in 2018 and priorities for the coming year. Fourteen of them responded – here is their input, in alphabetical order.

Arise Travel

Date launched: January 2018

January 2018 Purpose: To foster innovation in the hospitality industry by creating technology that allows travel companies to exchange data and transact in a more direct, efficient and transparent way. The Arise network relies on blockchain technology to build a distributed cache of hotel room and rate information that all connected systems can use at the same time. Hotels set the commission rate they're willing to pay for a booking along with their nightly rates. Any service can choose to sell that hotel's rooms and earn the set commission amount. We use smart contracts on our network to automatically handle commission payouts, giving both parties the confidence to work together without signing a traditional contract.

To foster innovation in the hospitality industry by creating technology that allows travel companies to exchange data and transact in a more direct, efficient and transparent way. The Arise network relies on blockchain technology to build a distributed cache of hotel room and rate information that all connected systems can use at the same time. Hotels set the commission rate they're willing to pay for a booking along with their nightly rates. Any service can choose to sell that hotel's rooms and earn the set commission amount. We use smart contracts on our network to automatically handle commission payouts, giving both parties the confidence to work together without signing a traditional contract. 2018 highlights: Built and load-tested our distributed ledger technology used by our partners to create their own distribution networks; launched a distributed central reservation system application that can be deployed on our networks; planned proofs of concept for 2019; raised a pre-seed with institutional investors.

Built and load-tested our distributed ledger technology used by our partners to create their own distribution networks; launched a distributed central reservation system application that can be deployed on our networks; planned proofs of concept for 2019; raised a pre-seed with institutional investors. 2019 priorities: Run successful proofs of concept and gain traction as a more flexible, transparent and robust, peer-to-peer connectivity solution for industry players that are already doing business directly with each other but have been relying on existing intermediaries for connectivity.

Atlas

Date launched: July 2018

July 2018 Purpose : To create a travel DApp (decentralized application) that connect all consumers and suppliers in the travel industry to a decentralized marketplace that incentivizes content creation, transactions and consent-based data-sharing. Atlas provides a commission-free infrastructure for suppliers to list inventory and for customers to complete accommodation bookings, restaurant reservations or tickets for events. The team behind Atlas also created Zanadu, a Chinese luxury travel platform.

: To create a travel DApp (decentralized application) that connect all consumers and suppliers in the travel industry to a decentralized marketplace that incentivizes content creation, transactions and consent-based data-sharing. Atlas provides a commission-free infrastructure for suppliers to list inventory and for customers to complete accommodation bookings, restaurant reservations or tickets for events. The team behind Atlas also created Zanadu, a Chinese luxury travel platform. 2018 highlights: Investment and blockchain partnerships with Ontology Network, a distributed trust network, and Kakao Klaytn, a South Korean messaging firm; angel round funding.

Investment and blockchain partnerships with Ontology Network, a distributed trust network, and Kakao Klaytn, a South Korean messaging firm; angel round funding. 2019 priorities: Create exchange listing and the launch of Atlas DApp in in the first half of the year, enabling user reviews and accommodation bookings. Many of Zanadu’s partners are keen to be part of the Atlas blockchain venture, and we will announce the names and details of the partnerships as we finalize them over the next few months.

Beenest

Date launched: October 2017

October 2017 Purpose: To become the largest vacation rentals platform for cryptocurrency users. Companies such as Coinbase have matured the on-ramp to people entering cryptocurrency and buying them for fiat. However, there aren't many off-ramps from cryptocurrency, which means spending or using your cryptocurrency once you have some. We believe that travel is one of the largest verticals of spending and maturing this off-ramp gateway will be bring a new influx of users for the travel industry as well as mature the cryptocurrency industry.

To become the largest vacation rentals platform for cryptocurrency users. Companies such as Coinbase have matured the on-ramp to people entering cryptocurrency and buying them for fiat. However, there aren't many off-ramps from cryptocurrency, which means spending or using your cryptocurrency once you have some. We believe that travel is one of the largest verticals of spending and maturing this off-ramp gateway will be bring a new influx of users for the travel industry as well as mature the cryptocurrency industry. 2018 highlights: Raised $15 million in January 2018 through an Initial Coin Offering (ICO) and since launched a fully working alpha. Users are able to pay with U.S. dollars, ether, and BEE tokens as payment options, and we are partnering with cryptocurrency conferences and other events to find our first adopters to stay at Beenests, properties in our system.

Raised $15 million in January 2018 through an Initial Coin Offering (ICO) and since launched a fully working alpha. Users are able to pay with U.S. dollars, ether, and BEE tokens as payment options, and we are partnering with cryptocurrency conferences and other events to find our first adopters to stay at Beenests, properties in our system. 2019 priorities: User growth is a priority. We want to acquire more hosts and activate our referral and ambassador programs. Additionally, a large priority is to increase our partnerships in both the cryptocurrency and travel spaces. Each cryptocurrency has its own userbase and accepting more types of cryptocurrencies will increase our user base.

Blockskye

Date launched: February 2017

February 2017 Purpose: To develop open-source, permissioned Ethereum solution for travel and entertainment distribution, pricing and payment.

To develop open-source, permissioned Ethereum solution for travel and entertainment distribution, pricing and payment. 2018 highlights: Completed end-to-end integration with a major U.S. legacy carrier and a large corporate travel buyer to fulfill direct-connect ticketing, pricing and payment using blockchain and Ethereum smart contracts. Completed multiple proofs of concept with the Airline Reporting Corporation focusing on next-generation settlement. Wrote a white paper with ATPCO that kicked off our joint-initiative to develop blockchain solutions to maintain NDC fare integrity.

Completed end-to-end integration with a major U.S. legacy carrier and a large corporate travel buyer to fulfill direct-connect ticketing, pricing and payment using blockchain and Ethereum smart contracts. Completed multiple proofs of concept with the Airline Reporting Corporation focusing on next-generation settlement. Wrote a white paper with ATPCO that kicked off our joint-initiative to develop blockchain solutions to maintain NDC fare integrity. 2019 priorities: Activate a corporate buyer population of 50,000+ corporate travelers on multiple, legacy carriers and leading hotel flags; develop blockchain solutions for interline ancillary settlement with a leading, global carrier; continue to advance our initiative focusing on smart-contract-generated pricing solutions.

KeyoCoin

Date launched: February 2017

February 2017 Purpose: To shift power in the travel industry from the few big players that act as commission-hungry middlemen and put it back in the hands of travelers and independent travel businesses.

To shift power in the travel industry from the few big players that act as commission-hungry middlemen and put it back in the hands of travelers and independent travel businesses. 2018 highlights: Launched web and app marketplaces, with over 12,000 tours, activities and local experiences; secured deals with hotels and accommodation networks to bring over 150,000 properties to the KeyoCoin marketplace; unveiled 1,000 travel challenges in 100 cities around the world setting the scene for our gamified world for consumers to explore; brought on an all-star team of advisors uniquely experienced in consumer technology (Apple, Oracle, Hyperloop, Ticketmaster, Live Nation, Western Union, Wedbush and IGN); developed beta versions of the KeyoPass digital concierge app and mobile hospitality platform.

Launched web and app marketplaces, with over 12,000 tours, activities and local experiences; secured deals with hotels and accommodation networks to bring over 150,000 properties to the KeyoCoin marketplace; unveiled 1,000 travel challenges in 100 cities around the world setting the scene for our gamified world for consumers to explore; brought on an all-star team of advisors uniquely experienced in consumer technology (Apple, Oracle, Hyperloop, Ticketmaster, Live Nation, Western Union, Wedbush and IGN); developed beta versions of the KeyoPass digital concierge app and mobile hospitality platform. 2019 priorities: We will have the KeyoCoin token offering, launch the KeyoCoin universal travel rewards platform and integrate our global travel challenges into our universal travel rewards platform. We will continue to build the the KeyoCoin community, including fresh deals with marketplace partners, and launch new products including our custom itinerary product that will help travelers enjoy a more personalized travel experience.

Loyyal

Date launched: August 2014

August 2014 Purpose: To reinvent how loyalty is created, rewarded, and managed. Using proprietary blockchain and smart contract technology, Loyyal's interoperable loyalty and rewards platform brings a host of benefits to a highly fragmented industry and offers brands an innovative way to unlock the billions of dollars in value held captive in legacy loyalty programs today.

To reinvent how loyalty is created, rewarded, and managed. Using proprietary blockchain and smart contract technology, Loyyal's interoperable loyalty and rewards platform brings a host of benefits to a highly fragmented industry and offers brands an innovative way to unlock the billions of dollars in value held captive in legacy loyalty programs today. 2018 highlights: Starting with the successful release of v1.0 of our enterprise-grade blockchain platform, Loyyal completed pilot programs for a Big Five Canadian bank, a Dubai-based leading global airline, and a Proof of Concept for the world’s largest airline alliance. On the technology front, Loyyal was awarded a patent for Distributed Ledger Protocol to Incentivize Transactional and Non-Transactional Commerce by the Japanese Patent Office and made significant progress on our patent applications in eight other countries around the world, stemming from our landmark 2014 filings. Lastly, Loyyal extended its international reach through an equity investment led by Australia-based REFFIND, who also serves as our exclusive Network Operator in the region.

Starting with the successful release of v1.0 of our enterprise-grade blockchain platform, Loyyal completed pilot programs for a Big Five Canadian bank, a Dubai-based leading global airline, and a Proof of Concept for the world’s largest airline alliance. On the technology front, Loyyal was awarded a patent for Distributed Ledger Protocol to Incentivize Transactional and Non-Transactional Commerce by the Japanese Patent Office and made significant progress on our patent applications in eight other countries around the world, stemming from our landmark 2014 filings. Lastly, Loyyal extended its international reach through an equity investment led by Australia-based REFFIND, who also serves as our exclusive Network Operator in the region. 2019 priorities: To surpass the successes of 2018, our priorities for the coming year will focus our energies on the continued development of our product suite to further enhance security, performance, and scalability; growing the number of partners and the volume of loyalty transactions managed on our platform, to bring greater benefits of scale for them and their members; and to complete our largest capital raise to date via a Series B round, to accelerate our growth even further, along with the capacity to better serve our clients.

PopulStay

Date launched: January 2018

January 2018 Purpose: To build the new home sharing business using blockchain technology, creating a direct connection between hosts and guest sand lowering transaction costs.

To build the new home sharing business using blockchain technology, creating a direct connection between hosts and guest sand lowering transaction costs. 2018 highlights: Obtained the seed round funding of about $2.25 million from Bitmain, Handsome Capital, Qtum, Crypto Capital and others; created our minimum viable product with 2,000 accommodation choices in Japan and 300 bed-and-breakfast units in Singapore.

Obtained the seed round funding of about $2.25 million from Bitmain, Handsome Capital, Qtum, Crypto Capital and others; created our minimum viable product with 2,000 accommodation choices in Japan and 300 bed-and-breakfast units in Singapore. 2019 priorities: Raise another round of capital to handle marketing, business development and product iteration.

Rezchain

Date launched: Rezchain has been incubated with the WebBeds B2B environment since late 2016 and in full production within the WebBeds group since September 2017.

Rezchain has been incubated with the WebBeds B2B environment since late 2016 and in full production within the WebBeds group since September 2017. Purpose: Rezchain, part of the Webjet Limited group of companies, gives participating trading partners (a buyer and a seller) peace of mind that they both hold the same data for the version of a hotel booking held in their separate systems and alerts both parties when a discrepancy is found. Rezchain utilizes the inherently robust, decentralized and trustworthy framework of Ethereum Blockchain to process data from both sides and then automatically alerts users at the time the discrepancy occurs that there is a mismatch of data, allowing the parties to take action to resolve the discrepancy before there is any financial or customer impact. Each party retains full control over its own data, sharing access keys only with the corresponding other party.

Rezchain, part of the Webjet Limited group of companies, gives participating trading partners (a buyer and a seller) peace of mind that they both hold the same data for the version of a hotel booking held in their separate systems and alerts both parties when a discrepancy is found. Rezchain utilizes the inherently robust, decentralized and trustworthy framework of Ethereum Blockchain to process data from both sides and then automatically alerts users at the time the discrepancy occurs that there is a mismatch of data, allowing the parties to take action to resolve the discrepancy before there is any financial or customer impact. Each party retains full control over its own data, sharing access keys only with the corresponding other party. 2018 highlights: Rezpayments has been successfully implemented for the reciprocal trading relationships between Sunhotels, Lots of Hotels, and Jac Travel, all part of the Webjet’s WebBeds B2B division. Rezchain has processed more than 850,000 transactions and discovered more than 25,000 discrepancies and incomplete bookings, allowing significant unnecessary losses to be avoided.

Rezpayments has been successfully implemented for the reciprocal trading relationships between Sunhotels, Lots of Hotels, and Jac Travel, all part of the Webjet’s WebBeds B2B division. Rezchain has processed more than 850,000 transactions and discovered more than 25,000 discrepancies and incomplete bookings, allowing significant unnecessary losses to be avoided. 2019 priorities: Rezchain becomes available to external parties in early 2019. Memorandums of understanding have been signed with four industry-leading organizations to be the first external participants. Rezchain will then be made available more broadly to organizations that want to reduce the occurrence of invoicing disputes and customer check in issues.

Travala

Date launched: March 2018

March 2018 Purpose: To create a one-stop travel booking platform combining the best of this generation’s online travel agency functionality with the incredible benefits of next-gen’s decentralized technologies and tokenized incentives, offering a globally competitive range of accommodations always available at a minimum average of 15% lower than current mainstream OTAs, enabled through agile integration of the leading wholesale travel solution partners. The platform will be boosted with discounts and special offers direct from brands and suppliers with blockchain-verified reviews for 100% feedback authenticity, and this will be underpinned by a token-powered incentivization economy which gives real rewards for valuable acts such as user referrals and key-opinion-leader content.

To create a one-stop travel booking platform combining the best of this generation’s online travel agency functionality with the incredible benefits of next-gen’s decentralized technologies and tokenized incentives, offering a globally competitive range of accommodations always available at a minimum average of 15% lower than current mainstream OTAs, enabled through agile integration of the leading wholesale travel solution partners. The platform will be boosted with discounts and special offers direct from brands and suppliers with blockchain-verified reviews for 100% feedback authenticity, and this will be underpinned by a token-powered incentivization economy which gives real rewards for valuable acts such as user referrals and key-opinion-leader content. 2018 highlights: Successful token sale in March that allowed us to develop Travala.com, currently with 567,928 properties in 210 countries covering 82,311 destinations and accepting more than 40 cryptocurrencies and fiat currencies as payment options; grown the team to 20 full-time employees; multiple partnerships with travel industry leaders including Gimmonix, Hotelbeds, Hotelspro, Abreu Online, GRNconnect, Destinations of the World, Hoteldo and more have set us up for a huge year in 2019.

Successful token sale in March that allowed us to develop Travala.com, currently with 567,928 properties in 210 countries covering 82,311 destinations and accepting more than 40 cryptocurrencies and fiat currencies as payment options; grown the team to 20 full-time employees; multiple partnerships with travel industry leaders including Gimmonix, Hotelbeds, Hotelspro, Abreu Online, GRNconnect, Destinations of the World, Hoteldo and more have set us up for a huge year in 2019. 2019 priorities: To integrate with our travel tech partner Gimmonix and integrate with 30 leading wholesale accommodation suppliers to provide 1.5 million instantly bookable properties with the best rates, availability, speed and best in class user experience and in the first quarter launch our beta marketplace; add a full spectrum of payment options and implement our token economy rewards, loyalty, refunds and smart member program; add flights, activities, transfers, car rentals and travel insurance; add new partners; initiate search engine and influencer marketing strategies.

TravelBlock

Date launched: July 2018

July 2018 Purpose: To create a private booking platform that uses a cost-plus retail model. TravelBlock purchases inventory directly from travel providers at a discounted bulk wholesale price and sells that inventory at a profit directly to its members – those people that own at least one TRVL token – at prices significantly below the prices mandated by online travel agency rate integrity agreements. Because members directly purchase travel inventory, as opposed to just reserving it, there is no possibility of overbooking. Because TravelBlock only lists its own inventory, providers are not charged additional commission for preferential listing. Searches on the platform are instead ordered by a member’s preferred sorting filter. Our users can book using both traditional currencies and cryptocurrencies such as our TRVL token.

To create a private booking platform that uses a cost-plus retail model. TravelBlock purchases inventory directly from travel providers at a discounted bulk wholesale price and sells that inventory at a profit directly to its members – those people that own at least one TRVL token – at prices significantly below the prices mandated by online travel agency rate integrity agreements. Because members directly purchase travel inventory, as opposed to just reserving it, there is no possibility of overbooking. Because TravelBlock only lists its own inventory, providers are not charged additional commission for preferential listing. Searches on the platform are instead ordered by a member’s preferred sorting filter. Our users can book using both traditional currencies and cryptocurrencies such as our TRVL token. 2018 highlights: Successfully raised our token sale soft cap, launched our platform to our current TRVL holders for fiat transactions.

Successfully raised our token sale soft cap, launched our platform to our current TRVL holders for fiat transactions. 2019 priorities: Launch tokenized platform; secure more strategic partnerships; accept other cryptocurrencies; strengthen our marketing tactics to attract more users all over the world; introduce a crypto debit card; launch an app version of the platform.

Trip.io

Launched: February 2018

Purpose : To create a global, zero-commission marketplace connecting travel suppliers and consumers.

: To create a global, zero-commission marketplace connecting travel suppliers and consumers. 2018 highlights : Released the Tripio Points Protocol, an open platform for industry points based on blockchain, and the first version of Tripio, including web app, iOS App and Android app, with access to 430,000 hotels around the world. The process of room release, front-end sales and payment settlement are all running on blockchain for both iOS and Android versions. Trip.io cooperates with six cryptowallets and 37 hotel brands, including Floral hotels, Sheraton Sanya and Sweetome Group.

: Released the Tripio Points Protocol, an open platform for industry points based on blockchain, and the first version of Tripio, including web app, iOS App and Android app, with access to 430,000 hotels around the world. The process of room release, front-end sales and payment settlement are all running on blockchain for both iOS and Android versions. Trip.io cooperates with six cryptowallets and 37 hotel brands, including Floral hotels, Sheraton Sanya and Sweetome Group. 2019 priorities: Optimize the on-chain process, including rooms release, management, booking and payment; develop an arbitration agreement to handle the resolution of disputes; ensure that behavioral incentives, consumption and proof of rights are all completed on chain; open communities in products to enhance user participation and activity; add Trip Experience module, support booking and write-offs of activities and meet up on chain; cooperate with more outstanding blockchain projects and hotels.

Trippki

Date launched: 2017

2017 Purpose: To create a decentralized ecosystem for customer loyalty rewards by creating an incentive for those who use its booking platform. Users who book hotels in either fiat or cryptocurrencies receive 5% of their booking value in TRIP tokens, which they can either cash in towards partial or full payment for future hotel stays, transfer them to friends or family or trade them on an exchange.

To create a decentralized ecosystem for customer loyalty rewards by creating an incentive for those who use its booking platform. Users who book hotels in either fiat or cryptocurrencies receive 5% of their booking value in TRIP tokens, which they can either cash in towards partial or full payment for future hotel stays, transfer them to friends or family or trade them on an exchange. 2018 highlights: Designed and built a minimum viable product Trippki Hotel Booking Platform, which we launched at end of June 2018 and are still developing as our funds allow us to do so. In September we pivoted our strategy by partnering with CTS Custom Travel Solutions and will be launching a live hotel booking platform by the end of January 2019 with an inventory of 1.6 million hotels accepting payments in Bitcoin, Bitcoin Lightning, Ethereum, Litecoin, Ripple, Decred, Monero, and Dogecoin as well credit cards.

Designed and built a minimum viable product Trippki Hotel Booking Platform, which we launched at end of June 2018 and are still developing as our funds allow us to do so. In September we pivoted our strategy by partnering with CTS Custom Travel Solutions and will be launching a live hotel booking platform by the end of January 2019 with an inventory of 1.6 million hotels accepting payments in Bitcoin, Bitcoin Lightning, Ethereum, Litecoin, Ripple, Decred, Monero, and Dogecoin as well credit cards. 2019 priorities: We will continue with our LCO (Live Coin Offering), which becomes live as users begin transacting on the Trippki booking platform and integrate TRIP tokens into our crypto-payment gateway. We will also implement our trust-less review system, which uses quadratic voting and proof-of-stay protocol and continue to create partnerships with global travel brands.

TripX

Date launched: November 2018

November 2018 Purpose: To enable any large travel company to massively reduce the costs and complexities involved in the back‐office systems that presently manage payments and commissions between suppliers and their resellers or direct corporate customers. TripX’s platform removes or substantially reduces the cost and complexity of the deposit, invoicing, batch process, and reconciliation processes that can stretch payment and commission settlement to sometimes well over 60 days. The platform is built with modules for hotel, airline, online travel agency, travel management company, tour operator and GDS suppliers. Car rental and cruise modules are also in development.

To enable any large travel company to massively reduce the costs and complexities involved in the back‐office systems that presently manage payments and commissions between suppliers and their resellers or direct corporate customers. TripX’s platform removes or substantially reduces the cost and complexity of the deposit, invoicing, batch process, and reconciliation processes that can stretch payment and commission settlement to sometimes well over 60 days. The platform is built with modules for hotel, airline, online travel agency, travel management company, tour operator and GDS suppliers. Car rental and cruise modules are also in development. 2018 highlights: Built and delivered the TripX Payment Widget, which makes it possible for any travel company to accept Bitcoin with real time checkout and receive payment in fiat currency of their choice with no fees; completed the buildout of our proprietary solution resolving the security, speed and compliance issues that we believe put us significantly ahead of competitive solutions.

Built and delivered the TripX Payment Widget, which makes it possible for any travel company to accept Bitcoin with real time checkout and receive payment in fiat currency of their choice with no fees; completed the buildout of our proprietary solution resolving the security, speed and compliance issues that we believe put us significantly ahead of competitive solutions. 2019 priorities: Work with designated large enterprise partners to develop and deploy smart contracts and launch “sandbox” testing with limited agent/re-seller networks. In Q2, review results, refine SaaS based payment model, register re-sellers/agents for rollout, and in Q3 roll out solution with two to three large customers.

Winding Tree