Mastercard received a patent for a blockchain system for travelers and suppliers of travel services. The solution developed by the company, will allow travelers to make an application, specifying the desired route, and the suppliers to submit proposals for each request.
According to the text of the patent application published by the patent and trademark office (USPTO), the giant financial services intends to optimize the global travel industry by establishing contact between travellers and representatives of hotels, airlines, and providers of other services. And we are talking about a much larger number of vendors: Mastercard believe that currently the traveler can choose on the basis of a much smaller set of criteria, even using services such as Priceline, Kayak and Hotels.com.
“The use of the blockchain can achieve the requests of the travelers shared for each travel provider having an opportunity to bid on the route. This will give all suppliers an equal opportunity to be selected by the traveler. While a traveler will not have to search each potential travel provider and provider — to spend considerable resources on marketing and promotion,” reads the patent application.
Within the system it is assumed that users will be able to send detailed information about its routes, which will be placed in the unit and is available in the blockchain all connected to the network nodes. Merchants can conduct trades in respect of queries, the results of which will be evaluated by the process server, after which the information will be sent to the user.
The application States that “the use of trading could provide tourism service providers the opportunity to amend, when necessary,” while the traveler in turn, “will be the best option for each item” route.
“As a result of travelers, working out a route, saving both time and money, and the travel service providers get more opportunities to earn and increase the income”, — the document says.
Thus, Mastercard is still one of the most prolific investors in the study of the blockchain. Probably, the authors of the application could be argued that such a system can operate on the basis of customary database similar to those that have already used the discount agencies travel booking. Justified in that all nodes will contain full details of all queries on routes and trading, even after they are no longer relevant? On the other hand, there is every reason to assume that the authors know it: using the blockchain it could be increase of efficiency, increase of competitiveness of market participants, as well as reducing commissions system operators.
Like retail giant Walmart, Mastercard continues to patent decisions on the basis of the blockchain. Yesterday the company received another patent for a new system Point-of-Sale technology for the reliable confirmation of the payment data.
In addition, a week earlier, Mastercard has successfully patented a solution that uses addresses in the blockchain wallet to authenticate coupon codes.
Moreover, according to the company, Mastercard has managed to create a blockchain that can manage its entire network.
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