Cryptocurrency...Winding Tree Eyes: The Blockchain of the Journey!

The Blockchain Winding Tree project is addressing the multi-trillion dollar travel industry by creating an open-source, decentralized travel shopping platform that promises to make travel cheaper for the user by passing from expensive intermediaries.

The global travel and tourism industry is one of the largest industries in the world with an overall economic contribution of more than US $ 7.6 trillion in 2016, and has long been dominated by intermediaries, Expedia and Priceline accounting for 95% of the US market for this industry.

"There is a big problem in the online travel industry today, it is dominated by a handful of companies that manipulate prices to their advantage, hindering competition and innovation." " the Winding Tree Foundation's nonprofit approach presents a democratic, transparent and decentralized solution to this problem. "

"said Pedro Anderson, one of the founders and COO of Winding Tree.

Using blockchain technology, Winding Tree aims to eliminate the unnecessary costs imposed on consumers by suppliers and intermediaries by removing intermediation layers.

Essentially, Winding Tree will be a set of smart contracts on the Blockchain Ethereum with a decentralized autonomous organization (DAO) platform.

Winding Tree, will connect providers, such as hotels and airlines, and vendors, such as travel agencies, to a single marketplace. Suppliers will be able to put information on their availability and enter their prices in the database, where they will be easily accessible to sellers. All these interactions must be carried out without human intervention.

Winding Tree: Minimal fees to encourage minors to participate in the network.

The project is supervised and maintained by a Swiss non-profit foundation, the Winding Tree Foundation, which is responsible for developing and promoting the platform and the community.

Winding Tree comes at a time when an increasing number of companies in the crypto game are developing and implementing their own blockchain platforms.

Webjet, a publicly traded online travel service in Australia, partnered with Microsoft last year to create a blockchain online booking platform. This solution allows you to make an inventory of hotel rooms worldwide using a private version of Ethereum.

TUI Group, a travel and tourism multinational with its headquarters in Germany, has already transferred the entire hotel inventory to a private version of Ethereum in order to eliminate intermediaries.

In Russia, S7 Airlines and Alfa-Bank launched a new Ethereum-based ticketing solution in July, which automates buy-sell operations.

Meanwhile, San Diego-based Innfinity Software Systems is looking to rebuild the "back end" of the Innfinite online booking tool using blockchain technology. The company said the blockchain will allow the online booking tool Innfinite, a booking engine of business trips for flights, hotels and rental cars, to provide travel management companies and their business customers richer content and more flexible contract options.

Source: journalducoin.com