Tales From the Crypto: The Wild World of Travel Blockchain Startups
Photo Credit: A promotional image for OjutCoin, one of the many cryptocurrencies out there in the travel space. Facebook / OjuTcoin
Skift Take
Some entrepreneurs and scammers are treating initial coin offerings like get-rich-quick schemes, and the travel distribution ecosystem isn't immune. Beware of people who say they can totally disrupt the travel industry, especially if they don't even understand how the industry works.
Sure, you've probably heard of Bitcoin or Etherium. There's also a good chance you've heard of Ripple or Litecoin, if you've been reading the news the lately.
People around the world are becoming newly minted millionaires, and the cryptocurrency craze is in full swing. There are coins and tokens aiming to revolutionize almost every industry, and travel is no exception.
Could Travelcoin, OjutCoin, TravelChain, PallyCoin, or Lockchain redefine the travel industry? Well, no. They could make their creators rich, of course, if enough people who don't understand the travel industry decide to invest.
As cryptocurrency mania has hit the mainstream, the travel industry has been a target for companies launching initial coin offerings and blockchain solutions.
A recent Skift Research survey of startups found that the travel industry is caught up in this exuberance, as well; respondents cited blockchain or distributed ledger technology as the biggest innovation happening in travel, as
