Travel and Transportation Blockchain Services
Increase security and reliability of travel-related transactions such as bookings, payments, and itineraries with immutable and decentralized blockchain solutions
Challenges in the Travel Industry
The over-reliance of travel and transportation companies on paper transactions reduces the processing time. A dedicated staff is hired to manage administration-related tasks that ultimately increase the overall administrative cost.
Travel compliance policy balances the needs of both employees and businesses. Travel managers face sheer risks and penalties due to non-compliance with rules and regulations. Reservation of consequences can only be possible with compliance.
Current travel systems do not provide access to other providers to plan complete journeys including transport, food, accommodation, transit, etc., On the other hand, poor customer service leads to reputational damage and dissatisfied clients.
Billions of dollars are tied up every day in disputes of payments in the travel industry. A company waits for more than 42 days for clearance of an invoice. Due to a lack of transparency and delayed payments, the relationships between stakeholders suffer.
Due to unappealing or unattainable rewards and lack of awareness, many loyalty schemes fail. Inadequate or worthless points, customers do not find interest in participating in loyalty schemes that ultimately reduce the customer retention rate.
The cost pertaining to mishandled baggage and loss is very high. The main problems in the luggage tracking system are a result of improper monitoring of baggage at the airport after check-ins, substandard baggage screening, sorting, and storage.