Re: [ANN][LIF] Winding Tree, Decentralizing The $7 Trillion Travel Industry
BTW, I apologize if I'm coming off as a snarky armchair skeptic. It's just that what you are trying to solve is a very hard problem: technically, economically and politically. I've spent a lot of time myself thinking about the underlying incentives that have caused today's mess in distribution and how that could be fixed.
I haven't got all the answers but I'm convinced it starts with making technology and intercom easier and cheaper for travel suppliers and retailers. For me this means open, easily implemented standards that have wide industry adoption (and maybe even replacing commercial PSS/CRS systems with better open source alternatives). I'm not sure increasing complexity with a blockchain solution necessarily changes much (other than unnecessarily increasing friction).
In the case of Lufthansa, for example, new entrants and startups can already get direct API access to their inventory (https://developer.lufthansa.com) without needing to learn about tokens and blockchains. Surely that's a good thing and the industry (airlines and hotels) needs more of it?
I haven't got all the answers but I'm convinced it starts with making technology and intercom easier and cheaper for travel suppliers and retailers. For me this means open, easily implemented standards that have wide industry adoption (and maybe even replacing commercial PSS/CRS systems with better open source alternatives). I'm not sure increasing complexity with a blockchain solution necessarily changes much (other than unnecessarily increasing friction).
In the case of Lufthansa, for example, new entrants and startups can already get direct API access to their inventory (https://developer.lufthansa.com) without needing to learn about tokens and blockchains. Surely that's a good thing and the industry (airlines and hotels) needs more of it?
Not at all! Just running on a busy schedule
We already have companies lined up who want to source inventory from winding tree and resell it! Also by making it easy for developers to integrate with the platform anyone could resell a hotel room i.e. in a hotel review etc. I think ways of monetizing distribution and distribution reach will change when the inventory is just there - easy to integrate and resell. But coming back to your point we will announce some projects building on the reseller site before our TGE!
I don't think the setup cost is that high. Initially we can be used as a seperate channel and if WT saves the suppliers enough and the math works then it'll make sense for them to integrate WT right into their CRS.
About your comment on overbooking - we don't have a large order book for hotel reservations. It's a spontaneous purchase and today's system run way behind anyway. Also the broadcasting of the transaction can already temporarily remove the room or seat from the suppliers inventory - without having to wait for x confirmations. If it doesn't confirm then it can be released again after 2-3 blocks 50 seconds or so currently on Eth.
We do believe a standard is necessary - that's why we will be working closely with suppliers to get a uniform standard.