Lufthansa Group has entered into a partnership with Winding Tree, a blockchain-based decentralised open-source travel distribution platform, which aims to make travel cheaper for consumers and more profitable for providers.
Winding Tree is dedicated to disrupting travel distribution. The decentralised B2B marketplace system powers blockchain-based travel booking transactions and can provide start-ups and companies with direct access to travel service providers’ offerings, and reduce distribution costs.
In theory, airlines, hotels and other travel service providers will in the future offer their services on Winding Tree’s platform, and companies interested in content will connect to the B2B blockchain-distributed digital marketplace to present specific offers tailored to their customers’ needs. This will result in a large number of new apps for travellers, who will then be able to book Lufthansa Group flights via the offer that best suits their preferences.
Markus Binkert, Senior Vice President Distribution & Revenue Management, Lufthansa Group Airlines, explained: “Lufthansa Group has engaged in the development of APIs, for instance supporting the IATA NDC standard, to offer a direct access to its offers to customers and distribution partners.
“By integrating these APIs with Winding Tree’s public blockchain, Lufthansa Group enables all innovative partners who develop cutting-edge travel applications to access these offers via a decentralised and intermediate-free travel marketplace.”
In order to finance the initial development and facilitate acceptance by suppliers, Winding Tree is launching a token sale of its cryptocurrency “Líf” on 1 November 2017. Lufthansa Group plans to participate in the pre-sale after regulatory clearance from Swiss authorities.
“The partnership with the Lufthansa Group will allow us to build blockchain-based travel apps which not only adhere to the requirements of airlines but we will be able to test these with Europe’s largest airline, further validating the efficiency and scalability of the platform. Lufthansa Group is setting an example for the travel industry,” said Maksim Izmaylov, Founder and CEO of Winding Tree.
