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Travel Ledger to support Chain4Travel with blockchain-based settlement services
European technology start-up Chain4Travel has tied up with Travel Ledger for its services to the Camino blockchain. The electronic invoice and remittance platform, Travel Ledger will now act as one of the initial validators operating a node and validating transactions on the platform.
Travel Ledger is an electronic invoice and remittance system connected to UK and European banking for easy and secure settlement between travel buyers and suppliers. It brings automation and standardisation to the complex B2B processes of invoicing, remittance, and funds transfer so businesses can reduce transaction costs and speed up payments.
Collaborating with Chain4Travel, Travel Ledger will make some of its existing and new services available to the Camino blockchain and develop dApps (decentralised Apps) specifically for use on Camino, allowing easy and secure settlement to accelerate processes and transactions for all partners buying and selling services and products on the Camino blockchain, shared Chain4Travel.
In addition, Travel Ledger will be one of the initial node operators and, therefore, voting right on the admittance of new validators into the consortium to keep the balance between independent operators on the blockchain. Those identified travel and tech industry partners validate transactions on the blockchain.
“Travel Ledger is one of the pioneers in promoting the use of blockchain in the travel vertical. As such, we share a very similar vision; therefore, we are joining the consortium, bringing in our settlement services and technical expertise,” said Roberto Da Re CEO and Founder at Travel Ledger welcoming Chain4Travel.
“We receive enormous feedback to the consortium approach of a common touristic blockchain. We are proud to have an innovative company such as Travel Ledger on Camino that offers cutting-edge settlement technology and services. In our early start-up phase, we bundle more and more impressive technical know-how that supports the definition and development of new rules for the future travel trade,” said Ralf Usbeck, CEO at Chain4Travel, on joining Travel Ledger.
Chain4Travel uses blockchain technology in the international travel industry to build a stable and secure platform for B2B and B2C leisure travel products. Tourism partners can efficiently trade and purchase various travel-related services and information in the decentralised autonomous network in which the travel industry will operate for the travel industry.