Etihad Airways to integrate Winding Tree's blockchain platform
Fri, 09 Aug 2019, 04:51 am UTC
Etihad Airways has partnered with Switzerland-based blockchain startup Winding Tree to provide logistical support for the airline’s distribution system.
According to Reuters, the recent initiative will enable the national carrier of the United Arab Emirates to bypass “overpriced” third-party operators that are handling inventories, including flight times, travel itineraries, and baggage tracing. The platform will allow businesses to publish their available inventory directly to customers.
“Very few have chosen to disrupt the distribution world and that’s because those are major players with very significant margins that have acted to keep that kind of a closed shop,” Etihad Director of Digital and Innovation Tristan Thomas said.
Founded in June 2017, Winding Tree is a decentralized business-to-business marketplace built on ethereum. Its decentralized B2B marketplace system allows companies to gain direct access to travel service providers’ offerings without the need for intermediaries. Currently, it is serving a number of airlines, hotels, and tourism offices globally, including Air Canada, Air France-KLM, Lufthansa, Swissport, and Nordic Choice.
“We have been doing experiments and new solutions on the platform. Ultimately, that benefits the consumer. When there’s innovation, you start to have disruption, you have competition which results in better prices for consumers,” Winding Tree’s CEO Pedro Anderson told the news outlet.
Meanwhile, international governments, airline companies, and airports are starting to adopt blockchain technology. In June, global accounting giant Accenture inked a formal agreement with the Canadian and Dutch governments, Air France-KLM, and Air Canada to use blockchain in identifying travelers, a deal dubbed as “Known Traveler Digital Identity.”
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