Webjet's Travel Bookings Blockchain Will Move to Pilot in 2017

A notable travel blockchain proof-of-concept being spearheaded by Microsoft is stepping up a gear.

AccessTimeIconFeb 2, 2017 at 12:00 p.m. UTC
Updated Sep 11, 2021 at 1:03 p.m. UTC

Microsoft is projecting that a blockchain proof-of-concept developed with Australian travel agency Webjet will move to the pilot stage in 2017.

Speaking at CoinDesk's annual developer conference, Construct 2017, Microsoft senior software development engineer Cale Teeter and technical architect Eric Maino said that they expect the project, which aims to facilitate travel bookings via a blockchain-based system, will attain its new development status within the coming months.

"Webjet wanted to see, instead of everyone running their own proprietary systems, a system that connects companies they own," Maino said. "They've been running their real data through it and they've been finding interest discrepancies in the business, and they're hoping to expand it out."

Announcing the scheme in November, Webjet managing director John Guscic said that the online booking process has become prone to issues due to the multiple systems used for its business silos, such as hotel room wholesaling.

"Between five and 10% of bookings can be impacted or, in other words, up to $10bn-worth of transactions," he said in a statement made at the time.

The project was billed as a "first-of-its-kind travel industry blockchain" by the two companies.

Image via Pete Rizzo for CoinDesk

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
First Mover Americas: Bitcoin at $20.1K as Crypto Lender Voyager Files for Bankruptcy

The latest moves in crypto markets in context for July 6, 2022.

CoinDesk - Unknown
2
CoinDesk - Unknown
DeFi Troubles in a Bear Market

Notional Finance CEO Teddy Woodward discusses the current crisis facing many DeFi lending and borrowing protocols.

CoinDesk - Unknown
3
CoinDesk - Unknown
Bitmark Raises $5.6M, Launches Interoperable NFT Wallet

The wallet, named “Autonomy,” is looking to bridge the gap between mainstream art collectors and the world of NFTs.

CoinDesk - Unknown
4
CoinDesk - Unknown
Solana-Based Chingari Tokens Plunge 87%, Developers Flag Big Sell Order

The team denies rumors of an exploit or insider trading.

CoinDesk - Unknown