{"id":1290,"date":"2018-02-28T06:47:42","date_gmt":"2018-02-28T06:47:42","guid":{"rendered":"https:\/\/worldgo.ca\/newsite\/?p=1290"},"modified":"2022-04-28T10:42:44","modified_gmt":"2022-04-28T10:42:44","slug":"blockchain-is-here","status":"publish","type":"post","link":"https:\/\/worldgo.ca\/newsite\/blockchain-is-here\/","title":{"rendered":"Blockchain is Here to Disrupt Corporate Travel"},"content":{"rendered":"

How Blockchain will Disrupt Corporate Travel<\/h2>\n

Few things have captured the tech industry\u2019s collective consciousness in the past year more than Blockchain. For the uninitiated, Blockchain is a decentralized (scattered across the Internet) public ledger on steroids. A \u2018block\u2019 is a record of a transaction. That could be cryptocurrency, it could be university grades, it could be medical records or other important data that users want secure, while at the same time transparent and instantly accessible. The linking of these encrypted blocks creates the \u2018chain\u2019. The linking happens by way of a <\/span>key<\/span><\/a>, a futuristic \u2018large integer\u2019 password of sorts.<\/span><\/p>\n

Still confused? In order to send money to your cousin in Australia you used to require a bank or equivalent establishment, and typically loaded with heavy transaction fees and processing delays required to validate the transfer. Blockchain all but eliminates the middlemen, and validates the transfer (almost) instantly.<\/span><\/p>\n

\u201cAs revolutionary as it sounds, Blockchain truly is a mechanism to bring everyone to the highest degree of accountability. No more missed transactions, human or machine errors, or even an exchange that was not done with the consent of the parties involved. Above anything else, the most critical area where Blockchain helps is to guarantee the validity of a transaction by recording it not only on a main register but a connected distributed system of registers, all of which are connected through a secure validation mechanism.\u201d \u00a0\u2013 <\/span>Ian Khan, TEDx Speaker <\/span><\/a>| Author | Technology Futurist<\/span><\/p>\n

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One of the most recent innovations between Blockchain and the tourism industry comes from Aruba. A partnership between two major airlines (Lufthansa and Air New Zealand) and Winding Tree a travel technology specialist, has positioned Aruba to be the first official country to apply Blockchain as a tool in its tourism distribution platform. <\/span><\/p>\n

Launching early 2018, the platform will connect Aruba\u2019s numerous boutiquel hotels to a prospective market. Built on Ethereum, the platform offers the use of Blockchain to incorporate smart contracts. These smart contracts offer a more efficient, customizable and secure interface for dealings between customers and vendors. This move is part of Aruba\u2019s overarching plan to implement a \u201cSmart Island Strategy\u201d that aims to make the country run on 100% renewable energy by 2020.<\/span><\/p>\n

Similarly, the Australia firm Webjet partnered with Microsoft to announce a Proof-of-Concept solution that uses Blockchain to streamline it\u2019s hotel reservations. They claim it will:<\/span><\/p>\n