Blockchain, the technology that will revolutionize tourism.

/, Tecnología Blockchain/Blockchain, the technology that will revolutionize tourism.

In recent times, and with the popularization of cryptocurrencies, a new word has become common in our vocabulary: Blockchain. But what is this new technology really about? What advantages do you have compared to previous solutions? And, above all, how can it be applied to the tourism sector or to the management of recreational-sporting events?

 

When we talk about Blockchain we are referring to a distributed and secure database that keeps track of all transactions and operations that have taken place in a given network. One of the advantages of this system is that each node, or user, of this network can write and read the contents of the database, but they can not alter what another has written. It is what is called TRACEABILITY. It is necessary that there is a consensus between the different nodes so that a transaction (we will call it that way to any event included in the document) is approved and, therefore, registered. And, once that process has been passed, it will be impossible for any user to modify it. In order to guarantee the integrity and validity of the database, it will be necessary to do the same with the content, for which another technology will be used with which we have become familiar in recent times: the electronic signature through the use of key cryptography public. Each node of the established network will have its own set of keys, which will allow each information issued to be signed, which guarantees its AUTHENTICITY. We can even go one step further, each data block includes an encoding that links it to the previous block that also includes timestamp and transaction data. This information, which is public, allows to control the traceability of operations, thus offering a double layer of security.

In addition to traceability and authenticity, the Blockchain technology has other advantages, derived from the fact that each node saves a copy of the shared database (and that it is updated with each modification). By having each of them a copy, it is possible to recover the information from any of them if necessary, which guarantees the resilience of the system. Not to mention that favors the immediacy in the access to the data, being a process whose speed only depends on the processing capacity of the node.

 

APPLICATION IN THE TOURISM SECTOR AND EVENT MANAGEMENT: iBS

One of the great advantages that blockchain will bring to the world of tourism is the unique identity. In a system in which all parties share the information safely, the traveler will have a unique identification from when they book their trip until they return home and see the photos. That is, you will not have to provide more personal data than strictly necessary to prove who you are and what you are entitled to at any given time. Today, in any displacement a tourist has to show his ID, his passport or his credit card at every step, and sign a thousand and one documents to prove it. In addition, blockchain streamlines the loyalty programs of airlines or hotel chains, which today are cumbersome because they have to account for many variables and take time to show the user their updated information.

 

Our platform iCommunity Blockchain Solutions (iBS) provides different cases of use or vertical, many of them applicable to the tourism sector and management of sports and leisure events: iBS-Documentum, iBS-Traceable, iBS-Ticketing, iBS-Fidelity among others . iBS improves and optimizes the processes and roles of these sectors, specifically in the following aspects:

  • Transparency: The transactions registered in blockchain are immutable, so
    through iBS-Documentum provides a permanent record of the flow of money to
    through the life cycle of the trip, providing more transparency to the process.
  • Liquidation: iBS-Ticketing automates the execution of intelligent contracts and the
    settlement between buyer and seller in a matter of hours versus days.
  • Loyalty: through our other vertical, iBS-Fidelity, we provide new
    ways to use loyalty points without friction between suppliers.
  • Fraud: Through iBS-Traceable and the blockchain distribution register
    We contribute to drastically reduce fraud in booking management or sale
    of tickets to events of all kinds, since the change in a single node will be
    quickly identified if it differs with the rest of the records in the chain.
  • Identity: With iBS-Identity we manage the traveler’s identity, allowing its use
    in any transaction.
  • Internet of things (IoT): All information collected by our verticals
    can be used to track any asset, for example, the
    luggage of a passenger or the equipment of an airline at the airport. Further,
    allows to generate later processes based on Big Data or machine learning, for
    generate consumption patterns and offers more suitable for customers.
  • Overbooking: eliminating the problem of duplicating reservations.
  • Travel policy: our verticals help business tourism to improve its
    ability to monitor negotiated rates, since they can be self-executed in
    smart contracts.

In short: the ability of a platform such as iBS and all the verticals that comprise it gives us to know the status of all transactions made, at any time and from anywhere in the network, and know the steps taken in your registration , is the most powerful tool at present to favor and simplify the operations of sectors such as tourism or the management of sports and leisure events, time that guarantees the accuracy of transactions and stored data.

21 January, 2019
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