There’s no doubt that Blockchain is making big waves in the travel industry these days. It seems that everyone is talking about it and there is no shortage of startups willing to bet that it has a big future in this industry. People are excited!
However, despite the excitement it still remains to be seen just how much of an effect it will have. Yes, there is huge potential in areas close to the hearts of travel businesses: security around data, transparency, logistics and the supply chain are just a few areas that look set for a revolution.
However, if we look beyond the startup industry’s thoughts on its future (and let’s face it startup businesses by their very nature look to shake things up and are super optimistic) only a small percentage of people in the industry were willing to bet on blockchain as a major game changer in the near future,
One respondent in a recent survey said that Blockchain’s potential depends on how far larger companies are willing to go with implementation.
Until supported by large travel companies, airlines and hotels, it’s going to be a steep task. But if supported, blockchain technology will have profound impact on the travel industry.
Let’s face it, we all need a little lift don’t we? A helping hand, an investment or a push in the right direction.
Large businesses may be reluctant to invest too much themselves but they can and should partner with small businesses. Both can build the infrastructure together, creating and supporting processes that could normally take years.
Small businesses can move fast. They’re not tied to the cumbersome ways of a large business, but the large business has the financial clout and the resources to make it a reality. Together they can take the plunge into these unchartered waters.