After a new travel-focused blockchain hit the scene, major players in the industry are beginning to pivot to integrate Web3 technology. Here are some of the most important things to know about this shift:
1. The new travel-focused blockchain is called Winding Tree and it aims to disrupt the travel industry by providing a decentralized platform for booking flights, hotels, and other travel services. By using blockchain technology, Winding Tree can eliminate intermediaries and reduce costs for both travelers and service providers.
2. Web3 technology refers to the next generation of the internet, which is decentralized, open-source, and built on blockchain. This technology has the potential to transform many industries, including travel, by enabling peer-to-peer transactions, greater transparency, and more secure data sharing.
3. Major players in the travel industry, such as airlines, hotels, and online travel agencies (OTAs), are starting to recognize the potential of Web3 technology and are beginning to pivot their strategies to integrate it. For example, some airlines are exploring the use of blockchain for loyalty programs and baggage tracking, while some hotels are experimenting with smart contracts for room bookings.
In summary, the emergence of Winding Tree and the growing interest in Web3 technology are signaling a major shift in the travel industry. As more players adopt these technologies, we can expect to see greater efficiency, transparency, and innovation in the way we book and experience travel.