Dubai’s government has launched Tourism 2.0, a blockchain-backed marketplace that connects businesses in the tourism sector with each other across Dubai.
Launched by the Dubai Department of Tourism and Commerce Marketing (DTCM), the service is its contribution to the Dubai 10X initiative that aims to place the city 10 years ahead of others across the globe.
The marketplace is structured as a business to business (B2B) service, allowing different companies across Dubai to connect with one another directly. In a statement released Thursday by DTCM, the department said, ”By accessing hotel occupancy and room rates, operators can communicate offers and availability more effectively for their customers”.
Utilizing the blockchain
The director general of DTCM, Helal Saeed Al Merri, asserted the department’s committal to incorporating new technologies to promote tourism within the emirate.
Al Merri recognized the economic benefits of utilizing such emerging technologies as blockchain. He said, ”By increasing the pace of digital transformation in the travel sector, Dubai is positioned to expand tourism by bringing innovative start-ups into the ecosystem, which will ultimately deliver value in terms of higher and faster conversion, and greater GDP impact.”
He also commented on the improved transparency Tourism 2.0 could offer via the blockchain, noting that the process would promote a streamlined, democratized service for tourists and businesses alike.
The blockchain allows the businesses to each contribute in a small way to run the marketplace, removing the need for involvement from a central authority such as a bank.
Recent significant blockchain innovations include NASA’s employment of the public Ethereum blockchain to enhance the efficiency of deep space travel through smart contracts.