Blockchain technology has brought enthusiasm in many fields and set to disrupt many industries. This disruption may also include the travel sector. Decentralized ledger technology can change how information is stored and used, resulting in better transparency and security, improving transactions.
The travel industry currently relies upon different companies passing information between one another as customers move across the travel value chain and leave a trail of complex commercial transactions. This process is inefficient and needs interpretational skills to convert the data shared since each company uses different sets of tools. There are risks of data losses due to various reasons.
With the decentralized nature of blockchain, the information can never go offline or get misplaced through accidental deletion or data tampering by third-parties. It will ensure the transactions are always traceable.
Industry to provide a smart-contract-based protocol is Marco Travel Industry. It connects consumers and businesses in the travel industry on a decentralized ecosystem that incentivizes content creation, transactions, and consent-based sharing of user data.
This article aims to provide in-depth information on Marco travel and its applications.
What is Marco DApp?
The Marco DApp is a decentralized application that brings the value of the Marco Network to life. It is an example of a dApp on the Marco protocol.
The Marco DApp allows users to access the decentralized database of location-based information about hotels, restaurants, bars, clubs, shops, museums, and other travel and lifestyle venues. Users are encouraged to share quality reviews with the community in exchange for MRC tokens.
Almost 20% of this industry totalling $8 Billion, gets absorbed as commissions. It is a significant amount of money that gets drawn directly from the wallets of customers. Marco Travel intends to solve monopolization by a small number of organizations who charge high costs with margins of 15-25% in commissions for hotel bookings, lack of incentives for content creators, and ineffective loyalty programs.
The Marco Protocol is a universal protocol layer supporting the travel industry and incentivizing users by providing tokens for content creation.
What does Marco offer?
From the perspective of customers or travellers, there are expectations that could ease the travel complications. Nobody wants to spend on unnecessary commissions, which could lighten the burden on the pockets.
- Content creation rewards
Content creators get automatically rewarded for posting high-quality content that draws users and increases network activity, upvoted by the community.
- Zero Commission MarketPlace
Marco provides a decentralized and commission-free infrastructure for suppliers to list inventory and for customers to complete their bookings required by them.
- Payment Gateway
Marco plans on handling online bookings and transactions, including the transfer of Marco to venues for reservations made by the website.
- Channel Management Integration
CMS API integration facilitates instant rates and availability confirmations, venue information, and promotional pricing retrieval.
- Authorship and Ownership Protection
Users and suppliers are empowered because they have control over their information and transactions.
The MRC Token:
The Marco Token (MRC) is a currency in the Marco ecosystem and delivers the following utilities. The value of the ecosystem multiplies when tokens can bring more use-cases and utilities into it. Marco incentivizes content and offers to exchange goods and services in the real-world. Other use-cases can get devised by ecosystem participants with advancements on the platform.
MRC can support travel businesses and pay for Third-party developers to design systems. It is also the base currency for token offerings in the ecosystem to avail services.
Future of Marco Travel
Marco is the world’s 1st Blockchain protocol for the travel industry, aiming to create a new global travel ecosystem built on a universal base-layer blockchain protocol. Blockchain and the capabilities that it brings are endless, and the travel industry is only at the beginning of realizing new ways to leverage its capabilities.
With the integration of Blockchain and an aggressive roadmap, the Marco team wants to introduce their fully functioning product by Q4 2022. The Beta versions are in testing phases and the tokens are already listed. You can buy the MRC Tokens on Uniswap and P2PB2B.