No small matter for the Caribbean island, Aruba relies heavily on tourism – with a population of a little more than 100,000, it sees 1.2 million visitors every year. But with the travel industry dominated by the likes of Expedia and Priceline, a few online travel agencies (OTAs) and airlines all controlling pricing, a significant amount of Aruba’s tourism revenue gets shipped offshore.
Now, the organization responsible for fostering the island’s technical development, the ATECH Foundation, is looking to change that by working with Swiss startup Winding Tree on a blockchain marketplace for travel booking.
Rather than the status quo, the ATECH Foundation would like to use Winding Tree’s platform, built on ethereum’s public blockchain, to connect tourists directly with travel suppliers, in an effort to eliminate all the middlemen.
And eliminating the third parties in tourism could be especially beneficial for smaller nations, Varelie Croes, ATECH Foundation co-founder, told CoinDesk.
“A platform like this can help countries like Aruba … bring back some of the profits and tax it and actually keep the income at home,” she said, adding:
“The impact is significant to the economy.”
If the blockchain system works, it would have a significant effect on Aruba’s bottom line, she continued…
Read Full: Aruba Looks to Ethereum to Boost Tourism