As a frequent traveler I'm glad blockchain technology is isolating major travel pain points, This technology has already proven its potential in multiple industries and I’m glad it's starting to be applied in the travel industry, In this blog entry I will take a looks at Further Network, a brand new blockchain technology project that has a mission of revolutionizing the travel industry by eliminating the problems existing in the industry which I'm going to highlight in this entry.
Further network is powered by blockchain technology in order to introduce the missing features in the travel industry, they include the use of smart contracts to allow an autonomous travel ecosystem, and the distributed ledger technology which has been customized and structured by further network in order to allow smart travel records to be stored on the blockchain.
Through the use of smart travel records and a tokenized economy with ATON TOKENS (Further network native tokens) travel industry participants will be able to optimize their operation processes that will be a smart travel ecosystem that will eliminate the need of service intermediaries, this technology will solve common challenges existing in the travel industry operations supply chain.
As a frequent traveler I have witnesses various challenges that are a frustration and can be avoided, but due to the human processing they have been errors here and there that have affected my travel experience such as long payment queues, identity documents processing time and overbooking of travel buses and aircrafts. Further network through blockchain technology can help solve these problems among others through their services I'm going to highlight below, but first let me try and explain what further network is and what they are bringing to the travel industry table.
Further Network
Further network is an innovative blockchain project that is using blockchain technology towards creating a smart travel ecosystem, the ecosystem will be tokenized by ATON Tokens that will be used to fuel the ecosystem through payments, contracts processing and contracts executions.
Through further networks travel industry parties will be able to interact and collaborate amongst themselves and with the traveler, through the smart travel records this parties will be able to understand the travelers more via the recorded transactions on the blockchain.
Problems Existing in the Travel Industry.
The travel industry major challenges are related with the human touch points and the interconnection of services, the human touch points include travel brokers and intermediaries who have invaded the industry resulting into high costs of services and operations, because of the high invasion of intermediary's travelers don't trust travel industry parties because of the challenges they bring to the operational processes due to human errors and miscommunication between the collaborating parties. The payments channels are also made through third parties increasing the costs of transactions and the payment intervals let's say you are paying for your destination hotel through you bank and it involves cross border transaction it can take even weeks before the taxi driver gets his payments for bookings.
Further Network Solutions.
The travel industry can benefit from blockchain technology, especially though the smart travel ecosystem provided by further network. Through blockchain technology further network is transforming the travelers experience through optimizing his travel process by empowering the industry travel parties. Travel parties such as airlines will be able to increase the value of their operational processes by eliminating the use of human processing of operations and also eliminating the need of third party though automation of services. Human touch points are prone to errors and frauds and manual paper works which will be solved by automation by the use of smart contracts and smart travel records.
Further network smart travel records will store travelers' transactions and smart travel assets for logistical purposes such as real time payment of travel services, cost saving when making financial transactions, cross border transactions at reduced charges, the ability to divide and liquidate universal travel assets.
Conclusions
With Further Network travelling will be fun, cost effective and the processes will be optimized making the traveler experience enjoyable. Further network smart travel ecosystem is offering solutions to the problems existing in the travel industry thanks to the formation of automated processing of contracts, travelers will be able to books their services and hotels automatically using smart contracts. This process of automating travel operation processes will help get rid of third parties resulting in a customer and product relationship that contribute to a better understanding and value touch points.
References.
Official Website: https://further.network
Whitepaper: https://further.network/whitepaper/whitepaper-latest-en.pdf
Telegram chat group: https://t.me/FurtherNetwork
Telegram announcement channel: https://t.me/FurtherNetworkANN
Facebook: https://www.facebook.com/furthernetwork/
Twitter: https://twitter.com/FurtherNetwork
LinkedIn: https://www.linkedin.com/company/furthernetwork/
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
All images credited to Further Network Official website
