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Yes, there is a practical use case for blockchain – hotel commissions for agencies - ETCIO.com

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Through decades of experience, we have collectively developed significant levels of trust and established the processes that are in place today for hotels and travel management companies to effectively share information.As a traveler, you might be unaware of the way our ecosystem works together behind the scenes each time you make a reservation, check into your hotel, or modify or cancel a room. The back-end processes and partnerships our industry has in place are designed that way - so that the experience for travelers is seamless, while we work together to simplify and resolve any issues that arise.We’re at an interesting time in our industry, where we’re seeing how innovative technologies like blockchain can have a positive impact on the challenging processes that keep us – as an agency, management company or hotel – up at night.

While hotel commission settlements aren’t the most exciting part of the travel process, they’re crucial to ensure all parts of the chain of providers who work together to deliver a travel experience are duly compensated.How does it work?Often thought of for its cryptocurrency application, blockchain can significantly transform data management by facilitating smart contracts that make supplier agreements much more meaningful for both parties. Blockchain technology would adjust the check-out date in real-time, providing the travel team with information they can use to provide support.Travelport and IBM’s joint effort, “Commission Reconciliation Blockchain,” is currently working with BCD and collecting data from several major hotel brands who have signed-on to take the first step in an improved process tied with data clarity and timeliness.

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