If you’ve heard of cryptocurrency, such as Bitcoin, then you probably have heard of the term ‘blockchain’. For those who have not heard it yet, blockchain is a ledger of records arranged in data batches called blocks that use cryptographic validation to link themselves together. Simply put that blockchain just works like a typical type database but with built-in validation.
What makes blockchain unique is that the ledger is not stored in a central location or managed by any particular body. Instead, it is distributed - existing on multiple computers at the same time in such a way that anybody with an interest can maintain a copy of it.
Today, blockchain is one of the technologies which is gaining increasing importance across different industries across the world including the ever-changing travel management sector.To learn the impact of blockchain in the travel management industry, check out the infographic below from Hyryde.