For us, mere mortals, hopefully in five or 10 years, those intermediaries won’t be there anymore.
Quote from Maksim Izmaylov, CEO of Winding Tree, in an article on PhocusWire this week:
Powerful travel brands face uncertain future in a blockchain-led world
To dismantle travel intermediaries - the great Pricelines and Expedias of the industry - Winding Tree’s Maksim Izmaylov believes a blockchain-based distribution network is the solution.
Blockchain will enable smaller airlines and hotels - the “mere mortals” currently battling a losing fight - to play on an even field against those dominating the top of the funnel.
While the technology indeed holds promise to disrupt the current distribution model, forecasting the expiration of these major players in as soon as five years is ambitious.
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It assumes that the established players are defenseless against a wholesale switch from one model to another, with the complete buy-in of the entire industry to ensure of their demise.
While many of the mega-OTAs often have a love-hate relationship with many of their suppliers, it seems reasonably far-fetched to think that those same suppliers would consider the apparent Wild West of Blockchain as an acceptable alternative.
Additionally, although travel companies are investing in various forms of cryptocurrency, it’s still unclear just how much interest is really there to move forward and implement.
Though the hype around blockchain shows no sign of abating, there will be plenty of skepticism to meet it in response. A democratized travel landscape is the idea of the future - but maybe not a reality as soon as some might hope.