Category Archives: Blockchain-based Travel Distribution Platform
Aruba aims to become the first blockchain based island nation with the help of Winding Tree and ATECH Foundation
Winding Tree, the blockchain-based travel distribution platform, and ATECH Foundation, enter a strategic partnership to innovate Aruba, making it the first island nation to offer its travel inventory on the blockchain
Zug, SWITZERLAND, December 2017 –– Winding Tree, the blockchain travel company, and ATECH Foundation, the driver behind Aruba’s tech hub, announce today a partnership to make Aruba the first island nation to fully integrate and adopt blockchain-based technology. Over the past three decades, Aruba has been exceptionally successful at spurring its economy through tourism and is known as an island that is not afraid to test new technologies, particularly in the travel and tourism sector. Winding Tree’s platform will migrate Aruba’s travel industry onto the blockchain, an integral key in bringing into the digital era.
The Aruba Tourism Authority and the Aruba Airport are both known leaders in their sectors. Winding Tree, which made a splash in the crypto world about a month ago after announcing a partnership with Lufthansa, will work with ATECH to accelerate the widespread adoption of blockchain in Aruba. Winding Tree’s platform replaces excessive fees and monopolies, which will make travel to Aruba cheaper, faster, and more enjoyable for consumers, as well as profitable for travel providers.
There is a big problem in the online industry today, as two companies, Priceline and Expedia, currently dominate the industry. Due to their strong market power, prices are controlled in their favor. The high distribution fees force hotels and airlines to offset the costs, shifting the burden of paying these high fees onto potential customers. The dominance and interference of these intermediaries is stifling not only the expansion of travel innovation startups, but also is hindering the ability of consumers to find fair and affordable travel deals. Winding Tree’s blockchain-based travel platform makes travel more accessible and cheaper to the traveler and the travel provider, removing any high fees these third parties impose.
The partnership between Winding Tree and ATECH will help expedite the adoption of this new technology platform in Aruba. This rings in a new era of innovation for Aruba, which will set the tone for the rest of the Caribbean. The island’s Central Bank is also one of the driving forces of inclusive digital transformation. Breakthrough technologies like artificial intelligence, blockchain and crypto are part of the island’s integrative innovation agenda.
“As an award-winning digital destination, travel innovation and adoption of efficient technologies will always be at the forefront of our goals as a Destination Marketing and Management Organization (DMMO),” said Ronella Tjin Asjoe-Croes, CEO of the Aruba Tourism Authority, “We encourage our stakeholders to adopt and experiment with new technologies so we can always stay two steps ahead. We are eager to test blockchain in Aruba and are following the developments in this space closely.”
“We are absolutely thrilled to be working with ATECH to bring about the widespread adoption of blockchain technology in Aruba,” said Pedro Anderson, COO and Founder of Winding Tree, “We already know the value that blockchain based travel will bring to consumers and travel providers. Our partnership shows the incredible effects (increased revenue, tourism, savings, etc) that blockchain could have on an entire country.”
“As a blockchain advocate, I am excited about the possibilities this partnership brings for my island ” said ATECH Co-founder and policy advisor, Varelie Croes, “Aruba’s economy has one of the highest economic dependence on tourism in the world. Imagine the socio-economic impact blockchain can have on this country, if done right. The savings and increased revenues are just a drop in the bucket compared to the acceleration of inclusive digital transformation. Winding Tree can help transform small island economies with their open-innovation platform and we are happy to be a catalyst for this movement.”
“ATECH understands the importance and value of moving Aruba’s travel inventory to the blockchain, and has teamed up with Winding Tree to make travel cheaper and more efficient for both providers and consumers in Aruba.”, says Tristan Every, ATECH Co-Founder.”