Aruba will use Ethereum to Boost the Tourism
December 4, 2017 7:01 am
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.”