Home Data & Expense Travel tech entrepreneur launches blockchain system for non-airline services

Travel tech entrepreneur launches blockchain system for non-airline services

3 min read

A new blockchain-based travel billing and settlement platform is in the works.

Travel Ledger is intended to automate purchasing of non-airline travel services, replacing current billing, reconciliation and settlement processes with a faster, easier system.

The project is an initiative of Dolphin Dynamics founder Roberto Da Re. He is now working full-time on Travel Ledger, in partnership with London-based Intuitive and Australia’s Tourism Technology.

Da Re says they are talking to other “travel technology companies and a major OTA” to join the project before handing it over to the Travel Ledger Alliance, a not-for-profit organization that will govern the platform in the future.

Travel Ledger will allow all billing records between buyers and sellers to be stored on a blockchain.

This type of shared, decentralized system will allow travel agents, tour operators, accommodation wholesalers, hotel companies, car rental suppliers, cruise companies and others to access inventory and track transactions in near real-time and to settle payments without the need for a third-party fund manager.

Smart contracts will manage the flow of information between existing reservation and back office systems.

“The billing and settlement area in travel has been crying out for proper automation for years,” Da Re says.

“We have such a good example with IATA’s BSP, now blockchain and smart contract technology presents a unique opportunity to create such a platform for non-air transactions in a cost-efficient way whilst putting the community itself in control.”

“From an automation perspective, payment processing and reconciliation is quite outdated in our industry. This platform will bring long overdue efficiencies to all parties and will create the backbone to make further use of blockchain technology into the future,” says Tourism Technology managing director Graeme Hunter.

The Travel Ledger Alliance will include a board of advisors, operational team, a development team, and a business development team to promote the system to companies around the world.

Those who purchase the Travel Ledger token, as well as companies that provide power to the network (the masternodes), will have voting rights regarding future decisions about the platform.

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