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Bitcoin Travel And Transport: Can Blockchain Evolve How We Travel Around?
The advent of blockchain technology has marked the beginning of revolutionizing the way each industry works. One of the most effective and commonplace use cases of blockchain technology is cryptocurrency. With its ever growing popularity and adoption by varied industries as one of the modes of payment, the cryptocurrency has evolved to a great extent. One such example is travel and transport industries which is leveraging from the transparency and security provided by blockchain based cryptocurrencies. The current scenario allows travellers to travel around using Bitcoin specifically and enjoy their seamless BTC trips. However, when it comes to having a faster and cheap air trips one can always look forward to become a Bitcoin traveler. The blockchain technology is not limited to cryptocurrency, from loyalty to identity programs, it has found its new value in already established arenas.
Traveling on Bitcoin
Traveling on Bitcoin around the globe is not a far fetched dream anymore - it is a reality. The travel industry is ensuring that being a Bitcoin traveler, one can rely and use Bitcoin exclusively for everything required including but not limited to booking hotels and flights, for making a successful and safe trip. Additionally, in order to facilitate a Bitcoin traveler’s trip, there are several retail businesses today that accepts Bitcoin over the counter for selling their goods and services. Various grocery stores, nightclubs and coffee shops around the world accept Bitcoin as a payment method. The list of cities that has adopted the Bitcoin include NYC, Tokyo, Toronto, Los Angeles and Singapore.
Blockchain in the Transport Industry
Peripheral to the travel and transport industries, blockchain has created its value in a handful of areas beyond backpacking and vacations. Identity, loyalty programs and ride sharing have exciting blockchain and decentralized organizations use-cases.
A Faster and Safer Blockchain Backed Identity
Recently, Canada has made its efforts to run a border security identity system pilot project that combines advanced biometrics with blockchain. The project is applicable for a selected volume of travelers and will be executed in partnership with the Netherlands. An identity system backed by blockchain, allows travelers to have a digital passport accessible from a mobile app. Using the technology, the travelers can retain their identity information while crossing borders, rather than confirming their identity through biometrics such as retina scans or biometrics. This kind of asymmetric information can greatly reduce crimes like theft of identity and improve security.
Using the project in transport can be a useful measure to move packages and people through border crossings and airports. The pilot program is an endeavour for Canada to hedge against the increase in air travel forecasted recently.
Hence, it can be aptly stated that Blockchain has begun to reform and revolutionize the way travel and transport industries operates currently and is a clear winner when it comes to ensuring security and transparency.
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