Travala, which provides a flight and hotel reservation service with cryptocurrency payments, today announced a partnership with Binance Chain, the blockchain of the Binance exchange, to jointly develop a new Web 3.0 Online Travel Agency (OTA) system.
Changpeng Zhao, CEO of Binance, explained:
“Binance is committed to supporting partners in creating innovative decentralized applications that will help grow the industry. Our Binance Chain and Binance Smart Chain systems will enable the Travala.com team to develop the next generation of blockchain-based travel solutions. "
In essence, the goal is to improve the technology behind Travala, making it more decentralized but also scalable, to improve the user experience.
Juan Otero, CEO of Travala, explained:
“Since we set out to build Travala.com, we have always had the intention of decentralizing aspects of the platform to take advantage of disintermediation and give our users and travel providers more ownership over the travel booking experience. This partnership with Binance Chain represents another important step for Travala.com and its native token AVA towards aligning travel bookings with the spirit of decentralized technology. ”
Travala and Binance Chain
The system involves the creation of decentralized reviews, a decentralized referral system, and an incentive system.
Travala was founded in 2017 and thanks to great partnerships with Booking and Expedia it has more than 2 million hotels and homes in more than 200 countries and 600 airlines around the world.
They have also recently agreed with TravelByBit to join the efforts of the two companies and become an even bigger leader in the sector, which is certainly made easier by being connected to Binance.
At Travala.com it is possible to pay for flights and hotels in more than 30 different cryptocurrencies, as well as with a credit card. The company also has a proprietary token, AVA, which is used for payments or to receive bonuses and discounts on reservations.
Initially based on NEO, AVA is now on the Binance Chain and with today's partnership the relationship becomes even closer as incentives, reviews and more will rely on this blockchain to become more and more decentralized.