Blockchain technology will “eliminate the need for powerful third parties” in travel and “challenge the status quo”, according to Philip Wolf, founder of travel technology analyst Phocuswight.
Wolf told Abta’s Travel Convention in Seville: “Google is the pre-eminent intermediary between you and the internet. Amazon is the biggest thing sitting between you and online suppliers. Blockchain can bypass all this.”
He said: “Bitcoin is endeavouring to replace PayPal. Ethereum will challenge Amazon Web Services. Winding Tree aims to replace the centralised GDS.”