Aruba will use Ethereum to Boost the Tourism

Nishanth Shetty

Nishanth Shetty

December 4, 2017 7:01 am

Aruba will use Ethereum to Boost the Tourism | Coindelite News
1
40879 Total Views

Ethereum News:

Aruba is looking forward to the Blockchain to boost from travel monopolies and keep the tourism revenue on its sandy seaside.

It is not a small matter for the Caribbean Island, Aruba is named for tourism – with a population of a little more than 100,000 it has around 1.2 billion travellers every year. But the travel industry is dominated by its expensive name and Priceline, few of the Online Travel Agencies (OTAs) and airlines are handling the price, but a specific amount of Aruba’s tourism revenue got shipped into the deep water.

Now, its the time to do something new for the island’s technical development, the ATECH Foundation, is looking forward to changing the work with the Swiss startup Winding Tree on a blockchain market for travel booking.

Rather than the status quo, the ATECH Foundation will be using Winding Tree’s platform, which is built on Ethereum‘s public blockchain, to connect tourists directly with the travel suppliers, in an effort to remove all the middle person. Removing the third parties in the tourism can be an advantage for smaller nations.

Varelie Croes said:

“A platform like this can help countries like Aruba … bring back some of the profits and tax it and actually keep the income at home.”

She also added:

 “The impact is significant to the economy.”

She also described that if the blockchain system works, it will have a particular change in Aruba’s bottom line.

The island has been investing a lot in new technologies for some time with an effort for making it better prepared for the future. Its the Smart Island Strategy for the tourism industry, for example, piloted biometric checks at airports and embraced the renewable energy.

Small checking ground

Blockchain has been of particular interest in its search, However, the island is expanding its own digital fiat with the cryptocurrency startup Bitt, and Aruba’s Central Bank believes this may increase the island’s GDP.

But while blockchain’s benefit for travel and tourism businesses have been much-vaunted (Winding Tree has already made a deal with major airline Lufthansa), its Aruba project is on the track to be the first fully implemented blockchain-based marketplace for travel.

Winding Tree will be starting the beta-testing the platform with the early adopters earlier next year, with the hope of launching it commercially by the end of 2018, first with the hotels and later on with the airlines.

But the advantage will not only be with Aruba the island’s small size will make it an ideal area for the exploitation.

Croes said described that Winding Tree can use the Aruba as a playground for rolling out this new technology on a nationwide basis.

The startup has already secured the Australian hotel management software company RoomRanger as a partner and also planning to announce a major European hotel group in the coming weeks.

Croes also described:

“This is beyond Aruba, it can have a significant impact on small economies.”

Hello blogger, i must say you have very interesting articles here.
Your blog should go viral. You need initial traffic
only. How to get it? Search for; make your content go viral Wrastain’s tools

1 Comment
Malta says New Cryptocurrency Rules aren’t yet into Effect

Malta’s new digital currency regulatory framework has not taken into force just yet. Three bills regarding digital currencies, distributed ledger technology, and blockchain, passed by Maltese Members of Parliament in June, set out many ambitious changes to the nation’s legal landscape overseeing digital currency-related businesses. Although, the Malta Financial Services …

JPMorgan is Seeking Blockchain Patent to Issue ICO Tokens

American investment banking giant JPMorgan Chase is pursuing a patent for a distributed system that utilizes blockchain to issue virtual depository receipts that sound skeptically like initial coin offering (ICO) tokens. JPMorgan filed the patent application in January and published by the U.S. Patent & Trademark Office (USPTO) on Thursday, …

Barclays to Explore Twin Blockchain Patents for Banking Services

According to the newly-released patent application, Barclays Bank seems like looking for blockchain technology to streamline the fund transfers and for know-your-customer processes. The U.S Patent and Trademark Office has published two applications by the U.K’s second-largest bank on Thursday. Both of them are about account security. Although, an application …

Chinese Search Giant Baidu Launches its own Token for Blockchain Photo App

Baidu has launched a proprietary token to incentivize customers of its new blockchain based photo app and sharing services. The company declared on Wednesday amid a press conference in Beijing that the photo-sharing platform – called Totem is now live and features a dedicated token called Totem Point. As per …

American Express has Filed a Patent for Blockchain-Based Proof-of-Payment System

  American Express which is one of the multinational financial services corporations has been showing their interest towards the blockchain technology. Through following the major competitors like Mastercard, Ameican Express has filed a patent for a proof-of-payment system that is based on the blockchain technology. American Express also referred as …

1
Accenture Partners with Thales to Bring Blockchain to the Aerospace Industry

Accenture, the Dublin-based global consultancy firm has struck a partnership with Thales Group, a French multinational aerospace firm. As per the press release from July 16, 2018, this move was planned to integrate blockchain technology to the aircraft supply chain. The blockchain will be based n Hyperledger Fabric that will …