TravelX, the company building the travel industry’s first blockchain-based distribution protocol, has teamed with Kiu System Solutions via Kiu PSS to enable 73 airlines to tokenize and distribute inventory as NFTs through the blockchain ecosystem.
TravelX is building a blockchain-based distribution protocol designed to create a more secure, decentralized, frictionless, transparent and efficient travel industry. The company’s technology allows travel suppliers to more efficiently manage their inventory, unleashing use cases that enhance both travelers’ flexibility and suppliers’ profitability.
The partnership allows airlines working with Kiu to reduce distribution and transaction costs, increase their revenue, while improving the traveler experience. NFTickets can be exchanged between actors in the blockchain network in accordance with smart contracts or parameters predefined by the service provider, generating additional revenue streams. Additionally, through transactions on the blockchain, refunds and exchanges are immediate and governed by automatically executed smart contracts, which saves money and time associated with customer service.
“At Kiu, we are focused on developing innovative and efficient solutions. This has been possible due to our vast experience in the industry and desire to provide new and better technologies to our clients and passengers. Through this partnership, we are excited to provide a new and innovative sales channel to our customers,” commented Alberto Desimone, CEO and co-founder of Kiu.
“We are very excited to be a part of the industry’s first integration between a blockchain distribution protocol and PSS with the global reach of Kiu. Through this, more airlines will be able to experience the benefits that tokenization and blockchain provide in terms of cost efficiencies and revenue generation,” adds Juan Pablo Lafosse, CEO and co-founder of TravelX. “We are proud that our partnership makes this all possible for airlines without the need for additional investments or technological developments on their side, as tokenizing inventory through blockchain is as easy as logging on and updating their agreement with Kiu.”