Leading German airline Lufthansa is the latest to jump on the blockchain bandwagon.
Lufthansa has entered into a content partnership with Swiss startup Winding Tree to bring blockchain technology to the travel industry. It will be participating in the startup’s presale.
Founded in June 2017, Winding Tree is a blockchain-based decentralized open-source travel distribution platform. A decentralized B2B marketplace system powering blockchain-based travel booking transactions would enable startups and companies to gain direct access to travel service providers' offerings without the need for intermediaries.
“In the future, airlines, hotels and other travel service providers will offer their services on Winding Tree's platform, and companies interested in content will only connect to the B2B blockchain-distributed digital marketplace to present specific offers tailored to their customers' needs. This will result in a large number of new apps for travelers, who will then be able to book Lufthansa Group flights via the offer that best suits their preferences,” Lufthansa said.
Winding Tree is launching a token sale of its cryptocurrency "Líf" on 01 November 2017. Lufthansa Group said it will participate in the presale after regulatory clearance from Swiss authorities.
“The partnership with the Lufthansa Group will allow us to build blockchain-based travel apps which not only adhere to the requirements of airlines but we will be able to test these with Europe's largest airline, further validating the efficiency and scalability of the platform. Lufthansa Group is setting an example for the travel industry,” said Maksim Izmaylov, Founder and CEO of Winding Tree.
Markus Binkert, Senior Vice President Distribution & Revenue Management Lufthansa Group Airlines, said that Lufthansa Group has engaged in the development of APIs and by integrating these APIs with Winding Tree’s public blockchain, it would enable all innovative partners who develop cutting-edge travel applications to access these offers via a decentralized and intermediate-free travel marketplace.
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