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HomeNewsTravel Industry - Webjet Tests Blockchain for Hotel Bookings

Travel Industry – Webjet Tests Blockchain for Hotel Bookings

Australian Travel company, Webjet, in collaboration with Microsoft,  is claiming a world-first for the travel sector and has just completed a six-month Blockchain proof of concept for the travel industry aimed to transform the way hotel bookings are made by using Blockchain to increase transparency and accuracy. 

Speaking to the AFR, Webjet managing director John Guscic said the company was testing Blockchain for its business-to-business wholesaling arm which offers hotels to travel agents.

“The dirty secret of the global hotel industry is that roughly one in 25 transactions globally end up with breakage where someone provides a service and doesn’t get paid for it … which is an enormous number,” he said.

“The reason that happens is because you have a lot of intermediaries in this space who are passing information to each other sub-optimally, and things get lost or not followed up. We believe Blockchain will create a more seamless, less intrusive, more robust supply chain than currently exists across all those parties.”

“It is, in essence, the decentralised trust platform that we are delivering into the environment,” said Webjet chief information officer Graham Anderson.

Webject worked with Microsoft to establish the Blockchain, which is being hosted in its Azure cloud. Microsoft has provided resources as it looks to build out its own Blockchain capabilities.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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