Blockchain: Increased Security and Trust for the Tourism Industry

Blockchain: Increased Security and Trust for the Tourism Industry

 

In the Mind of the Expert: Luca de Giglio

 

Blockchain goes beyond technology; it’s a means to make the world a safer, more transparent and accessible place for everyone.

Luca de Giglio, a lifelong entrepreneur and digital nomad, explains Trips Community, a new peer-to-peer booking platform for non-hotel accommodations.

Luca will be among the speakers at HICON 2019 - The Hospitality Innovation Conference, on December 5, 2019 at the Talent Garden Calabiana in Milan. We took the opportunity to sit down with Luca and better understand blockchain technology and its applications in the tourism industry.

 

Let's start with the slogan of your project: "Trips Community - Decentralized booking portal for digital nomads and travelers." What does it mean and how do you distinguish yourself?

Tripscommunity is particular, in that it’s a decentralized portal, a platform comparable to Airbnb, but without the control and management of the Airbnb business model.

Today, decentralization is what we aim for, but the current technology still requires minimum control.

The second peculiarity that characterizes us is that we cater to digital nomads, those living, working and traveling around the world. I, myself have been a digital nomad since 2001 and I spent some time in Chang Mai,Thailand - one of the reference cities for digital nomads.

This type of traveler is growing and they require independent housing to stay for several months. Need and demand already exist, but there is no offer. Most Hosts focus on short stays, not providing to the needs of those who need a longer solution. With Trips Community, we’re bridging this gap with a technological and decentralized portal.

 

How does the project make use of blockchain?

We often tend to think that blockchain is something “additional” to be applied to a company or a system. In reality, it’s just a layer or filter between the internet and the company using it. This layer makes it possible to increase the security and transparency of transactions and the transfer of data and information.

For example, if I book a room or post a review on a portal, I am trust the seriousness of that intermediary. However, that intermediary has the capability to potentially manipulate or modify the transaction or review for economic or political reasons, or to simply to keep their business model aligned.

With blockchain, there are no interested third parties, meaning that transactions and reviews can never be modified or deleted.

 

We have seen that the exchange of data via blockchain, especially in transactions, is considered safer. Why is that?

 

To date, there’s still no method that ensures complete safety of online data. This is confirmed by the fact that even large organizations encounter "data leaks" from time to time.

On the other hand, blockchain is considered unassailable, since to date, no one has been able to violate it.

 

Why is blockchain a great fit for the travel industry?

Each day, workers in the tourism sector manage huge amounts of money and data. By leveraging blockchain, tourism businesses will have more security. Let's think about data management. Today it’s as if data is managed in "silos". Large companies, such as TripAdvisor, Booking, Expedia and Airbnb have large amounts of data and the right to decide whether or not to make it available to other companies for a fee. It’s important to note that they do not own this data, operators and users do.

Blockchain will create the conditions for a free data market, in which the data owner can freely decide whether, and to whom, to offer their data to, without intermediation.

 

When we discuss blockchain, we always refer to cryptocurrency. How are cryptocurrencies involved in the Trips Community project?

Cryptocurrency is an integral part of blockchain: it adds value and increases security. It makes it impossible to circumvent the system, such as, conducting a false transaction.

It’s important to note that cryptocurrencies have various functions. At Trips Community, they are a method to reimburse those who collaborate in projects voluntarily with free tokens. Once a project is consolidated, cryptocurrencies have the potential to take on value and be resold. Furthermore, at Trips Community, it’s already possible to pay a portion of the apartment with these cryptocurrencies.

 

If you want to learn more about blockchain, cryptocurrency and tourism, don’t miss Luca de Giglio’s speech at the second edition of HICON.

Buy your ticket today and take advantage of the early bird discount valid until November 1st!