The Internet revolution has made information available to millions of people. The freedom of information and the digital age have brought us a new asset – data. Like in the feudal times when land was the most valuable asset and belonged to a handful of feudals with hundreds of vassals just serving and working for them, data we produce today is owned by the new feudals of the digital age. The travel industry is a vivid example of the digital feud with only several companies controlling the whole market and making advantage of users’ data.
While planning a trip travelers browse hundreds of websites, blogs, forums, read articles, reviews, watch videos. All this content is created for free by millions of people because they want to share their experience with their friends, colleagues or even the whole world. But it doesn’t occur to them that they are creating value and don’t get any reward for it. Internet giants like Google and Facebook take advantage of users’ data and earn real money.
Booking is the next stage of travel planning, and again internet giants make billions of dollars. All these companies do is link customers to sellers, but they get about 20-30% for it.
Blockchain will help people regain control over their personal data and turn millions of passive users to active value creators.
Blockchain will remove unnecessary intermediaries and let us use time, our most valuable resource, effectively. It will let us create instead of surfing mindlessly on the internet or scrolling the newsfeed of social networks. With Blockchain new economic stimuli, we’re getting new tools for creative work and earning money. If you have some free time you can join millions of people, contribute to the digital economy and get a fair reward.
Wikipedia is a perfect example of how millions of people working together can create a useful international value on the Internet (Wikipedia is the 5th most visited website in the world).
As it was mentioned above, the travel industry is a perfect instance of the feudal system with only several companies ruling the market. These companies take advantage of users’ data and get money for it. It’s pointless to wait for any changes from ‘above’ as the whole travel business today is based on the system of intermediaries and commission. But there are platforms like Travelchain.io that could completely change the landscape of the travel market with users taking active part in creating value, communicating and sharing data directly avoiding intermediaries and aggregators.
One of the TravelChains goals is to give users their data back and let people set the price for their own data. This would help to create fair relationships between sellers and customers avoiding intermediaries. EOS and Global Gnoseology Graph (G3) are powerful tools that would help to create well structured and decentralized system and get rid of feudal relics in the digital age. We believe that in the end, these changes will affect the whole world as travelers influence the society sharing their personal experience of dealing with other nations and cultures.
Image Source: Wikipedia Commons