TUI CEO Says Blockchain in Travel will Replace Intermediaries like Expedia

TUI Chief Executive, Friedrich Joussen believes that integrating blockchain in travel, will transform the industry, potentially breaking the hold that intermediaries like Expedia have over it. TUI Group, world`s largest tourist company, moved themselves out of the role, with the sale of ‘Hotelbeds’ in 2016 for $1.2 billion. They have developed ‘TUI Bed-Swap’ on a ‘private’ blockchain that could be made ‘public’, thus enabling control over agency commissions.

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