Disrupting the Travel Industry with Blockchain #009
Online booking can be a real hassle with all the commissions, accountability, reservation process... Imagine no fees, no middle-man, only direct contact between host and traveler. In the 9th episode, we discuss whether blockchain can bring new disruption for the hospitality industry with this week's guest: Hristo Tenchev, co-founder of Locktrip.
Croatia, as many Mediterranean countries, is predominantly a tourist country. Last year tourism profits accounted for more than 19,6 percent of Croatian GDP. Thus, for Luka and Ivan this is an especially interesting topic.
Airbnb disrupted the travel industry before some time but we still face challenges. Especially concerning the issues around us relying on centralized service to provide for our interest, whether we are the host or the tourist. Many of today's booking services are acting like the middle-man in the booking process making more expenses for both sides. That is exactly where blockchain shines: eliminating the middle-man and therefore, the need for the commission.
Besides from Luka's and Ivan's conversation, we also learned more about how blockchain can make changes for the travel industry from our guest, Hristo Tenchev of Locktrip, a blockchain & fiat powered marketplace for hoteliers and landlords. Hristo told us a few details about their early starts with the blockchain technology and how he and his partner used their accumulated knowledge to found Locktrip.
Airbnb disrupted the travel industry before some time but we still face challenges. Especially concerning the issues around us relying on centralized service to provide for our interest, whether we are the host or the tourist. Many of today's booking services are acting like the middle-man in the booking process making more expenses for both sides. That is exactly where blockchain shines: eliminating the middle-man and therefore, the need for the commission.
Besides from Luka's and Ivan's conversation, we also learned more about how blockchain can make changes for the travel industry from our guest, Hristo Tenchev of Locktrip, a blockchain & fiat powered marketplace for hoteliers and landlords. Hristo told us a few details about their early starts with the blockchain technology and how he and his partner used their accumulated knowledge to found Locktrip.