Blockchain Platform For Hotel Bookings Developed By Webjetbr>
Australian travel booking site Webjet has announced the launch of Rezchain, a blockchain platform to make secure hotel bookings.
Webjet said it has been working on its Rezchain blockchain platform for the past two years. The platform is designed to track the inventory of hotel rooms around the world using a private version of the ethereum blockchain. Rezchain was built using Microsoft Azure’s blockchain-as-a-service sandbox.
Rezchain allows companies in the hotel distribution industry to share data “on chain” to address mismatched accounts payable and accounts receivable data in real time. Rezchain’s architecture ensures any sensitive data stored on chain cannot be decoded, while still allowing access to the granular detail necessary to resolve mismatched booking data.
Webjet said it has already tested the platform on its B2B business WebBeds, which offers more than 250,000 hotels in Europe, the Middle East, Africa, North and South America, and Asia. Rezchain will now be deployed to European travel firm Thomas Cook, China’s DidaTravel, Indonesia’s Mitra Global, and hotel chain Fat East Hospitality.
“Rezchain requires no technical integration on the part of the participating company; a simple daily file is all that is necessary to begin matching data and solving booking issues,” said John Guscic, Webjet’s Managing Director. “In a low margin, high transaction volume business, it is essential to find ways to be more efficient and eliminate administrative burdens that add no value. It was this fundamental principal has led to the development of Rezchain.”
“It can be overwhelming for a travel company to consider adopting a new process that also requires the steep learning curve of a new technology,” said Webjet Head of Technology Graham Anderson. “Rezchain offers a simple entry point to blockchain efficiencies and allows companies to choose when and if they want to be part of the underlying infrastructure.”