Winding Tree is a decentralized open source platform for travel distribution that aims to make travel booking more affordable for the travelers while at the same time making it more profitable for the suppliers.
Elsewhere, Deutsche Lufthansa AG (DE:LHAG) shares were higher for a second consecutive session, up 2.59% on Thursday, after the German airliner announced plans to work with blockchain travel distribution company Winding Tree.
Die Lufthansa kooperiert mit dem Blockchain-Start-up Winding Tree, das Unternehmen einen neuen Marktplatz für Flüge, Hotels und andere Reisedienstleistungen anbieten will.
Lufthansa and Winding Tree see the partnership as a win-win – one that allows Lufthansa exposure to new technology experts, and Winding Tree access to experts in the field.
Lufthansa has gone the furthest among airlines through its new agreement with Switzerland-based start-up Winding Tree.
The marketplace allows for blockchain-based booking transactions and participation from startups and companies without the need for intermediaries like Expedia or Booking.com to result in cheaper and more efficient travel for the end user.
Travel startups are already exploring the use of blockchains to streamline services and reduce costs for consumers, such as Winding Tree's "blockchain-powered B2B marketplace" and others that use private blockchains to facilitate faster, more equitable booking processes.
Today new technologies such as Blockchain promise a solution to many of the problems by providing networking and verification at an extremely low-cost.
Blockchain project Winding Tree is going after the multitrillion-dollar travel industry with an open source, decentralized travel distribution platform that promises to make travel cheaper for end users by cutting out expensive middlemen.
In essence, it wants Expedia, Airbnb and Priceline out of the picture so you’re not paying them — or anyone else, including Winding Tree — a cut when you make travel arrangements.
Winding Tree appears to be an exception to this trend. It is the only open source, public blockchain project I have come across in the industry so far.
Winding Tree, which bills itself as "travel distribution without intermediaries," plans to offer distribution without transaction fees, instead charging only about a penny to incentivize people or companies to participate in order to "give computational power to the network," according to a white paper from the company.
TUI has also been in talks with Winding Tree, a company based in the Bay Area that’s looking to build a decentralized travel distribution platform.
Dit vindt Maksim Izmaylov, oprichter van Winding Tree, die blockchaintechnologie combineert met directe links naar de inventaris van leveranciers.
Winding Tree is a decentralized autonomous marketplace for travel. It’s one single organisation, but no one can control it and raise transaction fees or cut someone off the network.