ETH Travel Token Benefits -

Primary Benefits- Every transaction that implements the ETH Travel Token will be a true disruptive in the travel industry, with users owned tokens that have real value, and a full, secure, and efficient economy. It will scale to millions of concurrent users, all using Ethereum Travel Tokens (ETHTT) to manage or book their travel reservations. The blockchain is a special technology for peer-to-peer transaction platforms that uses decentralized storage to record all transaction data. The first blockchain was developed in the financial sector to serve as the basis for the cryptocurrency “Bitcoin”. More and more new applications have recently been emerging that add to the technology’s core functionality – decentralized storage of transaction data – by integrating mechanisms that allow for the actual transactions to be effected on a decentralized basis. These mechanisms, called “smart contracts”, operate on the basis of individually defined rules (e.g. specifications as to quantity, quality, and price) that enable an autonomous matching of distributed providers and their prospective customers.

Lower costs, faster processes and greater flexibility - Ethereum Travel Application changes the way the users transact to make a reservation, with the underlying transaction model shifting away from a centralized structure (Online Travel Agents, Sabre, GDS) towards a decentralized system (end customers, travel industry giants). Third- party intermediaries like OTAs (Online Travel Agencies) and GDS (Global Distributed Systems), whose services are needed today in most travel industries, are no longer required in such systems – at least according to the blockchain theory – given that transactions can be initiated and carried out directly “from peer to peer”. This can cut costs for both the end users/ travel industries and speed up processes. As a result, the entire system becomes more flexible, as many previously manual work tasks are now carried out automatically through smart contracts.

The wide range of Travel Industry use cases - Ethereum Travel Token technology shows a lot of promise. Other than being used to execute travel reservation transactions. It could also provide the basis for the users to redeem their travel points/rewards and book the reservations for any domain (Hotels, Airlines and Car Rentals). Meaning, the users will not face the burden to stick to one airline/hotel or rental car industry. The users will be able to convert the airline points/hotel rewards to Ethereum Travel Tokens (ETHTT) and use it whenever it is required. Other possible areas of application are in the documentation of ownership, the state of rewards (Ethereum Travel Tokens Rewards Management), guarantees of origin, emission allowances and renewable travel points which will be converted to Ethereum Travel Tokens

Ethereum Travel Token has the potential to radically change the travel industry system as we know it, by starting with individual travel sectors (Airlines, Hotels, and Car Rentals) first but ultimately transforming the entire travel industry market.

Token Adoption and Hosted Web-Application Roll-outs -

Using the ETH Travel token application, which is a risk-free, the users will not share their credit card information with the mediators (travel agents) and have the ability to control their personal information and book their travel using ETH Tokens directly integrated in the travel industry (Airlines, Hotels and Rental Cars). The goal of using the ETH travel token protocol is to bring all the industries (Airlines, Hotel and Rental Cars) under one umbrella that are currently managed by third party vendors. Since ETH Travel token is based on ERC20 technology, we will integrate the technology with more federated protocols, such as SAML, OAUTH 2.0, and WS-Fed to provide risk free and better user experience for the travelers to book their travel using ETH Travel Tokens.

Reduced Unnecessary Cost/ Fees with Online Travel Agents -

Costs of booking a travel through travel agents are much very higher when compared with direct booking using ETH Travel Tokens. There will be no markup fees/ commissions to book your travel using ETH Travel Tokens. This also means that the user/traveler is much secured due to service stability, high availability, and there is no dependency of connecting to travel agent websites (Expedia, Travelocity, etc.). ETH Travel provides simpler, and more robust, flexible and manageable methodology for managing travel booking using ETH Travel tokens with various travel industry entities.

Eliminate Burden of Risk on Identity Ownership-

Federation capabilities offer a sophisticated, flexible mechanism of user attribute-based sharing, making it possible for Ethereum Travel to act as an identity provider to share much less information about the users and yet achieve the required behavior in the receiving application from the airlines, hotels and car rental industries. Federation allows Ethereum Travel to act as an identity provider to send user travel booking transactions to federation partners (airlines, hotel, and rental car industries) as part of a Blockchain federation message. This allows service providers to utilize these assertions and eliminate the need to have a local account for each individual user in some cases.

Reduce Cost of Audit and Compliance -

1) Auditing & Logging

• Designing an Ethereum Travel system for non-repudiation and fraud analysis
• Logging each and every transaction details to create a trustless audit trail

2) Enterprise Integration

• Integrating with existing and incumbent systems such as airline industries, hotel industries, and car rental industries for business intelligence, reporting, and analysis, etc. as part of the user travel transactions

3) Monitoring

• Evaluating and tracking IT factors such as availability, capacity, patterns and fault identification for the Ethereum Travel cloud-based solution
• Monitoring the health of the Ethereum Travel cloud-based solution

4) Reporting

• Building connectors to the existing and future travel enterprise systems
• Assessing Ethereum Travel Token transaction market offerings for reporting

5) Development Program

• Developing easy-to-use APIs and programming frameworks for integrating applications using Federation Protocols (SAML 2.0, OAuth 2.0, WS-Fed…)
• Formulating a blockchain architecture based on existing system maturity

This means that when communicating identity authentication and travel transaction details to airlines, hotels or rental car providers, travelers do not have to expose any identifiable information about their identity beyond what is necessary for booking a flight ticket or making a hotel/car rental reservation, while the service providers do not need to worry about storage and maintenance of user identity information. In addition, the users’ Ethereum Travel tokens are not transmitted or exposed to any of the travel industries.