Excerpt from Travolution
Blockchain technology will “eliminate the need for powerful third parties” in travel and “challenge the status quo”, according to Philip Wolf, founder of travel technology analyst Phocuswight.
Wolf told Abta’s Travel Convention in Seville: “Google is the pre-eminent intermediary between you and the internet. Amazon is the biggest thing sitting between you and online suppliers. Blockchain can bypass all this.”
He said: “Bitcoin is endeavouring to replace PayPal. Ethereum will challenge Amazon Web Services. Winding Tree aims to replace the centralised GDS.”
Asked about the environmental challenges presented by blockchain’s excessive energy demands, Wolf said: “Let the experts navigate these challenges. Instead, think ‘How could this help my business?’”
Wolf warned technology would continue to transform the sector at pace.
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