Due to the monopoly centralized travel companies have they can get away with imposing hefty booking fees on each transaction they processwith an average at 30%!
With the advent of the blockchain technology and a new type of companies, consumers around the world got a chance to save on traveling since these companies don’t have to impose hefty transactional fees.
Travala, a platform designed atop the NEO blockchain, enables such companies to offer more affordable travel deals and allows regular travelers to save up to 50%, according to its website.
Travala.com launched in July 2018 and is essentially a marketplace for booking hotels, international/domestic tours, property exchanges within the travel and tourism industry and more. To make a payment, customers have a wide choice of leading crypto (BTC, ELM, DASH, ETH, BNB, TUSD, and LTC among others) and FIAT currencies.
The platform imposes a minimal charge on all bookings which is lower when compared to traditional travel operators today, while charging vendors 0% booking commission fees.
A brief look at the platform
Travala runs on the NEO blockchain, and reportedly can support up to 1,000 immediate transactions per second and can scale to 100M+ booking requests.
The platform allows users to sort out any issues with their bookings thanks to an integrated dispute protocol.
One of the best features of the platform is transparent reviews that cannot be manipulated. Thus, only honest feedback from real customers is published.
Travala is designed to minimize the risk of double-bookings and payment chargebacks —since all user data is recorded in a decentralized repository.
Travala uses a native currency, AVA, which is used to reward users and as an internal currency.
In December last year, in a strategic decision, Travala announced an integration of Ripple’s XRP in their payment gateway.
Currently, on the platform, there are over 550,000 traveling deals, available for booking in over 210 cities globally.
This males Travala the biggest travel booking platform in the cryptocurrency world.
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