Blockchain Beach? Aruba tests Bitcoin secret to support tourism

Blockchain Beach? Aruba tests Bitcoin secret to support tourism

Aruba is looking for a blockchain solution to reduce the power of travel monopolies and maintain revenues from tourism.

These are larger sums for the Caribbean island of Aruba, which is heavily dependent on tourism. With just over 100,000 inhabitants, it has 1.2 million visitors every year. However, as the travel industry is dominated by Expedia, Priceline, a few online travel agencies and airlines that all control prices, a significant portion of tourism revenue goes abroad.

Bitcoin secret was of particular interest in research

Now the ATECH Foundation, which is responsible for the technical development of the island, wants to change this by working with the Swiss start-up Winding Tree on a Bitcoin secret marketplace for travel bookings. ATECH wants to use Winding Tree’s platform, which builds on Bitcoin secret like onlinebetrug said, to connect tourists directly to travel providers and thus eliminate all intermediaries. The elimination of intermediaries in tourism could be particularly beneficial for smaller nations, says Varelie Croes, co-founder of the ATECH Foundation.

“A platform like this can help countries like Aruba to recover a portion of their profits, tax them and keep their income domestically, she said and added:

“The impact is very important for the economy. If the blockchain system works, it would have a significant impact on Aruba’s bottom line.”

The island has for some time been investing heavily in new technologies to better prepare for the future. For example, the Smart Island strategy for the tourism industry has carried out biometric checks at airports and accepted renewable energies.

Small test area

Most notably, the island is researching its own digital Fiat with the crypto currency start-up Bitt and Aruba’s central bank believes that this could boost the island’s GDP. While the blockchain potential for travel and tourism companies has been much praised (Winding Tree has previously signed a contract with the major airline Lufthansa), the Aruba project is well on its way to becoming the first fully implemented blockchain travel marketplace. Winding Tree will begin beta testing with the Early Adopters early next year, with the intention of commercializing with hotels by the end of 2018 and later with airlines.

However, the benefits are not limited to Aruba: The small size of the island makes it an ideal area for research. Winding Tree can use “Aruba as a playground for the nationwide introduction of this new technology,” said Croes. The start-up already has the Australian hotel management software company RoomRanger as a partner and plans to partner with a large European hotel group in the coming weeks.

Croes summarizes:

“This also applies beyond the borders of Aruba and can have a significant impact on small economies”.

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