A Swiss-based startup is dedicating itself to “the reorganisation of travel distribution”, starting by building the first public blockchain-based marketplace for travel content with the Lufthansa Group on board as content partner.
With a decentralised B2B marketplace system powering blockchain-based travel booking transactions, startups and companies will be able to gain direct access to travel service providers’ offerings without the need for many intermediaries, according to the startup, Winding Tree.
Winding Tree envisions that in the future, airlines, hotels and other travel service providers will offer their services on its platform, and companies interested in content will only connect to its B2B marketplace to present specific offers, which will result in a large number of new apps for travellers.
“Lufthansa Group has engaged in the development of APIs, for instance supporting IATA NDC standard, to offer a direct access to its offers to customers and distribution partners”, said Markus Binkert, senior vice president distribution & revenue management Lufthansa Group Airlines.
“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 will on November 1 launch a token sale of its cryptocurrency “Líf”. Lufthansa Group will participate in the presale upon regulatory clearance from Swiss authorities.
The contact with Winding Tree was established via the Lufthansa Innovation Hub.