Dubai Tourism plans blockchain-based hotel marketplace
B2B exchange will use blockchain-based system for secure trading in hotel rooms and other tourist offerings
Dubai Tourism (DTCM) has announced plans for a blockchain-based online marketplace to sell hotel rooms in the Emirate.
The B2B exchange is intended to connect travel agents and tour operators with available hotel rooms in Dubai, to ensure maximum uptake of rooms and to enable smaller operators to get access to some of Dubai's leading hotels.
The marketplace will be arranged in collaboration with the hospitality sector, and other government entities. By developing a blockchain solution with smart contracting, DTCM hopes to reach as broad a global market as possible, while maintaining confidence that bookings are authentic.
The initiative has been launched as part of the Dubai 10X plan to bring new ideas to government.
The marketplace will launch within the next two years, DTCM said, and will provide a safe, transparent and real-time environment for dealing in room stock in an open market. In future the platform will be extended beyond hotels to include the wider tourism ecosystem in areas such as tourist attractions and events.
HE Helal Saeed Almarri, Director General, Dubai Tourism, said of the initiative: "Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and his powerful future-focused agenda to take Dubai 10 years ahead of its competitors, we at Dubai Tourism are determined to carve a reputation as global leaders in tourism innovation, exponentially accelerating our ‘digital, mobile and social' first strategy. Today travel is undergoing one of the most emphatic sectoral transformations due to the radical pace of technological disruption across every aspect of the consumer journey.
"As the city that aspires to be the number one destination for international visitors, both in terms of traffic and in terms of preference, we believe that the key to leadership lies in our ability to consistently deliver the most ubiquitous travel experience that is unmatched in memorability, efficiency, and convenience - to every prospective traveller across the world."