Travala, which provides a booking service for flights and hotels with crypto 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:Â
“Binance is committed to supporting partners in building innovative decentralised applications that will help grow the industry. Our Binance Chain and Binance Smart Chain systems will empower the Travala.com team to develop the next-generation of blockchain-based travel solutions.”
In essence, the aim is to improve the technology behind Travala, making it more decentralized but also scalable, so as to improve the user experience.
Juan Otero, CEO of Travala, explained:Â
“Since setting out to build Travala.com, we have always had the intention to decentralise aspects of the platform in order to both leverage the advantages of disintermediation and give our users and travel suppliers 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 ethos of decentralised technology.”
Travala and Binance Chain
The system involves the creation of decentralized reviews, a decentralized referral system and a system of incentives.
Travala was founded in 2017 and thanks to large partnerships with Booking and Expedia has over 2 million hotels and homes in over 200 countries and 600 airlines worldwide.
They have also recently agreed with TravelByBit to join the efforts of the two companies and become an even greater leader in the sector, which is certainly facilitated by the fact of being connected to Binance.
On Travala.com it is possible to pay for flights and hotels in over 30 different cryptocurrencies, as well as by credit card. The company also has a proprietary token, AVA, which is used for payments or to receive bonuses and discounts on reservations.Â
Initially based on NEO, AVA is now on Binance Chain and with today’s partnership, the relationship becomes even closer, since incentives, reviews and more will be based on this blockchain in order to become increasingly decentralized.
