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Blockchain technology to address major problems in the travel industry

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Millennials, who by some estimates will overtake Baby Boomers as America’s largest generation in 2019, are typically–and somewhat unfairly–branded with a bad reputation. They are called “lazy” and are said to “lack loyalty”. They’re entitled, over sensitive, and complain about everything. To be sure, this describes some millennials. But not all of them. In fact, one thing millennials can claim that their ancestors can’t (at least for now) is that their families love travel more than any other generation. There are over 80 million millennials in the US who take, on average, 2.6 trips a year. What’s more, according to TMS Research, this is driven primarily by millennial families–they are more likely to travel than their single or couples counterparts.

Not-so-coincidentally enough, millennials rely on the internet to make travel decisions. More than 64 percent of millennial parents use online reviews, while 60 percent like to post their own recommendations. Despite some vacationers doing so with bad intentions, like the desire to make others jealous, it is clear that social media and online outlets are a good thing for both travelers and the industry that supports them.

Nevertheless, the travel industry isn’t without its flaws. Whether it’s hidden charges and sky high fees, sketchy tips, or insane transportation issues, vacationers have a lot to be worried about. Thankfully, some companies such as Cool Cousin are working on blockchain solutions to help make traveling easier. The company, which already has a 4.7 / 5 star app on the Apple App Store, is raising money to integrate blockchain technology into their platform. This will not only help their 500,000 plus user base grow in number–it was also boost their already strong customer satisfaction.

How the Cool Cousin Platform Solves Travelers’ Biggest Problems

In essence, the Cool Cousin app lets locals, affectionately called “Cool Cousins”, offer tips and create travel guides for visitors. Their platform lets people who know the areas well pass on their wisdom to those who are temporary dwellers. The effect is to create a travel economy where everyone helps one another, rather than competing for dollars. By adding a blockchain element, the company hopes to solve some of the biggest pain points of the travel industry.

Pain Point #1 – Hidden Charges and Fees

Traveller.com cites “Hidden Charges” as one of the industry’s big issues. Their article colorfully comments, “Currency conversion fees, exchange rate swindles, dynamic currency conversion fees… over the past decade the dark lords of the travel world have been working hard to develop ingenious ways to burrow into your bank account.” With Cool Cousin’s blockchain integration, however, these charges will be a thing of the past. This is because the CUZ coin will function as a decentralized medium of payment on the upgraded app, allowing people from anywhere in the world to directly transact without needing a third party intermediary.

Pain Point #2 – Untrustworthy Tips

Another problem cited by Traveller.com is the abundance “museum overload” and “dodgy food”. In other words, travel sites and guides often provide poor tips. This is circumvented by the Cool Cousin platform because Cousins are thoroughly vetted by the team before being admitted as guides. What’s more, the app ensures that every tip and guide offered is made by a local. As a result, travelers don’t have to worry that the “advice” they receive is simply peddled by a corporate worker who receives compensation by shamelessly promoting whatever travel agency offers the highest commission.

Pain Point #3 – Large Crowds and Traffic Nightmares

One of the biggest benefits of the Cool Cousin platform is that Cousins, by definition, know all the inside tips. When traveling to a popular tourist location like New York City, London, or Sydney, congestion and crowd traffic–not to mention regular traffic–can almost ruin a trip. With the Cool Cousin app, users can get the inside scoop on transportation and which spots are the least touristy. This gives vacationers a way to enjoy big cities without the hassle of dealing with the masses, at least to the same extent as others.

Featured image from Dan Gold on Unsplash

This is a sponsored post. Content has been provided from an outside source and reviewed by Crypto Insider, but it does not necessarily endorse nor take any responsibility for the given information. Readers are highly encouraged to do their due diligence.

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