A collaboration between Binance Chain and Travala.com, a cryptocurrency travel agency is coming soon.
Aiming to decentralize its services, the firm is up to unveiling more of its core offerings which includes reviews, accommodation, bookings, referral systems, and even up to the salesforce functions.
The company’s CEO Juan Otero also revealed that there would become a time that users will be selling directly with the property owners, leveraging blockchain’s disintermediation potential:
He further said that “under this decentralized model, accommodation seekers will be able to book stays without the need for an intermediary. Said another way, individuals seeking to rent an apartment, bedroom, or hotel room will be able to deal directly with property owners.”
The first phase of the launch is the booking system which is an important aspect. Afterwards, the firm plans to focus its efforts streamlining processes for decentralized review service.
Based on initial plans, the reviews will be stored on-chain to safeguard that they cannot be removed or altered after they have been submitted.
Also, tokenized incentives will be devised to mitigate fake reviews. Through this, it will only allow reviews from users that checked in at a given location by booking on the platform.
In terms of the percentage of the site’s business going towards the shift, Otero said he could not determine as of the moment.
“In the long-run, ideally all aspects of the [decentralized online travel agency] will be on-chain. Realistically we will have to phase out what aspects of the [firm] are on-chain. As we are closer to the implementation of certain features we will review the trade-offs of being on-chain versus off-chain,” he further ended stressed,
Come this August 2020; the firm has increased its capacity to accommodate 600,000 hotels in its partnership with travel giant, Agoda. This is on top of their deal with Expedia, which saw a 6% increase in their sales.