The U.S.-based airline settlement clearinghouse ARC took an undisclosed investment in blockchain developer Blockskye, the companies announced Thursday. Already, the two have been working with United Airlines and one of the carrier's corporate clients on blockchain-based reporting and settlement capabilities, which are moving into production.
Executive Travel CEO Steve Glenn has set his sights on "zero/zero," as in $0 in fees for online bookings and $0 for offline bookings. He thinks he's found the path, and it involves a financial model tied to client revenue performance, blockchain-based smart contracting and data access that gives transparency to each side.
United Airlines, airline settlement clearinghouse ARC, a large corporate client of United and travel blockchain entrant Blockskye have completed a proof of concept to examine reporting and settlement through a blockchain ledger for flights booked on the airline's website.
To assess major technology concepts and examine how they are applied within the corporate travel ecosystem, The Beat this year handpicked a few dozen experts attuned to trends in technology and travel to rate the coming relevance of seven computer science and tech fields.
Through an initial coin offering that kicks off Thursday, blockchain-based distribution startup Winding Tree hopes to raise $10 million to develop a decentralized and open platform for transacting air, hotel and other travel components.
Your feedback will determine one keynote speaker, identify the recipients of our annual Readers' Choice awards and formulate questions for industry executives taking the stage when The Beat Live comes to Atlanta from Oct. 3 to 5.
The International Air Transport Association's New Distribution Capability may appear to be the great disruptor sweeping through travel distribution, but arguably an even larger revolution is following. IATA's One Order initiative aims to digitize order management in the same way NDC has digitized offer management.