Disruption via TokenAP
Many industries have experienced disruption, due to technologies that successfully reduced inefficiencies and frictions, often disintermediating established players in the process.
Large travel companies, such as airlines and hotel chains, know this from painful experience:
They pay billions of dollars in commissions each year to Priceline, Expedia, and other online travel agencies (OTAs), which have transformed how consumers book flights, hotels, and rental cars. Blockchain-based loyalty platforms could be another such disruption.
Both small startups and large-scale technology companies are eyeing the possibilities this presents, and some are teaming up. We will also partner up to develop blockchain infrastructure for loyalty and rewards programs.
Travel companies with loyalty programs, whether stand-alone or part of a larger alliance, will have to figure out how to respond.
Early adopters could benefit considerably. First, blockchain could help relieve a large balance-sheet liability that many in the industry are facing. Loyalty programs have long relied on cobranded cards and partnerships to sell points and generate incremental revenue. But the number of airline seats and hotel rooms available for redemption in recent years has been limited by near-record occupancy and load factors. The result has been a growing volume of unredeemed points, which new accounting standards have turned into a headache: Revenue attributable to the value of loyalty points must be deferred until the miles are redeemed.
Adopting blockchain would enable companies to rapidly add and maintain loyalty partnerships without adding complexity to their programs. A robust, frictionless partner network could mean many more redemption options outside of the core travel product, thereby creating a much-needed release valve for these growing balance-sheet pressures.
Second, blockchain would enable businesses to break out of the loyalty program mold of narrowly defined, one-size-fits-all programs and redemption processes filled with customer hassles. Consumers increasingly expect personalized (not merely segmented) travel offerings and digitally enabled one-stop services; the growth of OTAs is izn part a testament to that. Blockchain would allow both large and local partners to be added seamlessly, making the crafting of on-trend offers much easier, while virtually eliminating the back-end irritations of point redemption.
TokenAP will help the traditional world, disrupting their coupons, their loyalty programs, their discounts with the benefits of the Blockchain! Making it digital will lead to a 80% + decrease in costs. This is why TokenAP will succeed.
Today is the start of a massive 200 Billion USD savings transition and you can be part of it!