Cryptocurrency platform, Rezchain, launches to help the booking sector

Both travel companies and travelers can benegit from this new blockchain platform co-created with Microsoft.

Hotel booking mishaps are not only frustrating and potentially uncomfortable to travelers, but they also affect the bottom lines of the companies that handle those bookings. That’s where Webjet’s Rezchain service aims to help.

The Ethereum-based blockchain hotel booking verification service was built in collaboration with Microsoft and has been in the works since 2016. Since then, it has gradually been adopted within Webjet—a B2B accommodations service with $3.8 billion in total transaction turnover in FY2019—and its WebBeds division, as well as select partners.

The company announced that it has opened up Rezchain to all companies within the travel industry. Rezchain uses a permissioned, Ethereum-based blockchain to confirm that data matches across multiple booking systems, and provides a warning to all parties if a discrepancy is discovered.

Not only can that help avoid issues before they’re truly problematic, but the blockchain’s immutable ledger should make it easier to find a solution with less hassle and resources.

Read more here