Travelport, the leading travel and tourism platform, announced its partnership with IBM to further develop the innovations created to change the tourism industry.
Elizabeth Pollock, Industry Client Leader IBM Travel & Transportation, said:
"The benefit of blockchain in travel is that it provides the ability to put a smart contract across a distributed ledger. By implementing a smart contract, settling payments within the network and so forth, the technology significantly lowers the processing time, because it manages diverse ledgers across multiple companies in a way that takes manual processing and other processing out. The other benefit here is that you are also adding transparency to the system across all parties in the travel network."
Travelport has developed a concept that will simplify the verification, distribution, and settlement of hotel content between its own platform, travel agencies and hotels through the IBM Blockchain. Travelport uses the IBM Watson Data Platform to personalize customer experiences with new tools and travel recommendations.
Travelport moves to the next stage of development using the IBM Blockchain to optimize the hotel and travel ecosystem. Providing choices through content, seamless ordering and experience fulfillment is essential to the traveler experience. By using IBM Watson Analytics Studio, Travelport is planning to develop new services, such as providing the best time to buy or providing personalized suggestions based on previously received travel data.
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