Technological Advancements In Blockchain : “Imagine a world where your luggage never gets lost. You never have to wait for your hotel loyalty rewards to materialise. All your passports and visa documents are digitised. That’s the kind of world blockchain aims for”, Mayank Singhal, member of the Blockchain Research Institute at Toronto.

Technological Advancements In Blockchain

Here’s the ugly truth: Initially, the blockchain technology was curated to only run Bitcoin. However, considering its advantages, scalability, and potential uses, researchers anticipated that it would significantly impact the travel industry. And guess what, they weren’t wrong!

Blockchain technology has taken the tourism and travel industry by storm. So, let’s understand the what, why, and how of blockchain in the travel industry.

The What

Simply put, blockchain is a list of time-stamped transactions between parties. These transactions are known as blocks and can be for anything related to a sale of goods, services or even data. And each of these blocks is stored in one place.

Everything before this sounds like a cloud storage application, right? Now, this is where the tables turn (for good, of course) — Instead of being stored in a centralised database (like in cloud storage), blockchain transactions are decentralised.

What does that mean? This simply means that each block of data is connected to the next, essentially forming a “chain”- just like link and locks.

Fascinating, right? Read on to discover the advantages of blockchain in this domain.

The Why

• Travel Industry — A Natural Fit for Blockchain

Inevitably, travel comprises data sharing amongst multiple parties, ranging from travel advisors, online travel package providers, airline companies, credit card companies to hotels and car rental agencies. Considering the number of parties involved, the process is in definite need of streamlining.

This is where blockchain-powered platforms like LynKey come into play. By making the accessing, storing, and sharing of information more accessible and reliable, LynKey allows parties to transact directly with each other. It conveniently eliminates the need for intermediaries.

What’s more? Transactions are logged in real-time, putting an end to duplication, deletion, malicious activities, and all the confusion.

• Blockchain Provides Transparency and Privacy at the Same Time

Making payments in and out while travelling is entirely normal, be it for the hotel accommodation or taxi fare. This indicates that financial transactions are the key to the travel industry.

LynKey not only simplifies the payment process but also makes it more secure and traceable, including international payments. That is, you will be able to see your transaction entry in the public ledger. But this entry will not be visible to others to keep it private and secure.

• Blockchain has the Power to Enable Innovation

Despite being a multimillion-dollar industry, travel and tourism is being dominated by monopolies. In fact, 90% of the travel and tourism companies and online portals are owned by Booking.com or Expedia. This kills the scope of innovation down with it.

Smart contracts leveraged LynKey to emerge as a literal knight and shining armour for the travel industry. By unsheathing its power from blockchain, LynKey aims to tokenise over $8+ billion of luxury tourism and property experiences worldwide. With its initial projects in Vietnam, LynKey will span through Singapore, Australia, South Africa, and other parts of the world soon.

The How

• By Facilitating a Seamless Travel Experience

From visa, flight tickets, comfortable and safe transportation, accommodation, and restaurants to world-class entertainment, blockchain has the potential to revolutionise the way people travel.

LynKey, a blockchain certification and utility system, is here to offer unique solutions. While you book, buy property rights to use, get timesharing resorts, hotels, marinas, holidays, and other related services, the ecosystem ensures that you have a frictionless travel experience.

• By Offering Reward Points in Real-Time

Customer loyalty programs are the bread and butter of the tourism and travel business. By leveraging the power of blockchain, LynKey aims to simplify and further streamline the process.

How?

The instant you pay your bill at the hotel using LynKey, your points will appear instantly in your LYNK wallet.

You’ll not have to wait for 2–3 days for the information to be updated and your points to roll in! Blockchain has got it covered.

• By Digitisation of Timeshare, Licensing, and Leasing

Another way blockchain aims to revolutionise the travel industry is by the introduction of ownership of the timeshare. Simply put, timeshare is a shared ownership model wherein multiple purchasers buy usage rights for the same property.

LynKey allows its users to buy a timeshare in resorts, hotels, marinas, holidays, golf events, experiences, and other travel-related services. It offers a new and advanced capability to increase customer satisfaction and save costs.

The Future is Now; The Future is Blockchain

Blockchain technology may still be in its infancy; however, the way it’s infiltrating the travel and tourism industry is undoubtedly intriguing. Exploring this new method of storing data that is secure, transparent, and decentralised will be an adventure, irrespective of the industry. But as far as the travel and tourism industry is concerned, blockchain is going to prove to be an instrumental pillar in the success of early birds like LynKey.

The “LYNK” to a global premium digital assets ecosystem and community that offers exclusive travel experiences is here.

The million-dollar question is — are you ready for the future? Are you ready to leverage this worthwhile and promising technology?

If yes, LynKey is the ideal solution for you.

To know more, visit lynkey.com

Download the app and indulge yourself in the unlimited benefits of the ecosystem.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Technological Advancements In Blockchain To Render Growth And Development In Tourism: Understanding The Basics appeared first on OpenBusinessCouncil Directory.

According to this Flyaeolus flight survey, 30% of European corporate businesses travel once per month; 62% travel once a year, while 5% travel 21 to 40 times per year

These statistics tell us that trips are a recurring activity for many employees and employers. Because they are, your business requires an efficient and systematic process for adequate planning.

If you are looking to give your employees a seamless and efficient traveling process, then you need the expertise of an efficient travel management company. They’ll help streamline the preparation processes and make business trips easier and a lot more rewarding for your company.

What are travel management companies? Why do you need their services?  This article discusses what travel management companies are and the top three reasons to hire their services.

Let’s begin.

What are travel management companies?

A Travel Management Company (TMC), also known as a corporate travel provider or business travel agency, is a travel agent that oversees the business travel arrangements and activities of an individual, company, or organization.

They often offer ongoing business travel management activities using travel management tools to provide improved and enjoyable travel experiences for companies.

They perform different functions, including enforcing a company travel policy to ensure all employees comply with the company’s business trips policies. They also provide a reliable system to enable companies to enjoy the best rates for all bookings, regardless of when they book.

Top 3 reasons to employ the services of a travel management company

Source

Whether you are a small, medium, or large company, employing the services of a travel management company is critical for a smooth business travel experience.

Below are three critical reasons to hire the services of top travel management companies for all your business trips.

1.    Travel management companies cut down business travel expenses

Companies spend $111.7 billion annually on business travel. This is because business travels frequently happen every year for many businesses, which means they will consume a huge part of a company’s expenses.

A travel management company reduces your business travel expenses in several ways. First, they create or enforce an existing travel policy that enables your staff to stick to a specific budget when they travel.

This ensures your staff book the airline and hotel that works best for the company’s budget. They can also track other additional expenses to ensure they align with the company’s spending expectations.

Second, working with a time management company means you will enjoy the best discounts when you travel. They negotiate the best deals, demand loyalty programs from vendors, and harness the best tools to track promotional offers and best rates.

Sometimes, they cancel tickets to rebook for more affordable options, so you can travel at discount rates and maximize costs as you travel.

Third, many travel management companies implement a pre-trip approval process that approves trips. This ensures that the company duly approves all business trips, and no staff goes on a business trip without the company’s knowledge, mitigating unnecessary business trips and maximizing cost in the process.

Fourth, whenever you have to reschedule or cancel a business trip, many travel management companies ensure you do not pay the penalty or extra charge for your action, saving you from additional expenses and driving down costs.

On the whole, travel management companies manage your overall travel expenses through planning, tracking, and reporting tools. By doing this, you can monitor every travel expense to reduce costs while you and your staff go on business trips.

So, if you want to spend less while getting the most from your business travels, a travel management company can help you beat down expenses so you can save when you travel.

2.    They save time

Business travels often involve many processes. From finding the right vendors to negotiating the best deals and bookings, the processes can be overwhelming. Travel management companies take over the planning, scheduling, and booking of your business trips to facilitate the travel process.

They use their resources and expertise to plan your business travels to make the best choices for you.

So, rather than spend lots of time on planning, travel management companies do all the work for you. This means you can focus on other essential aspects of your trips.

Additionally, they monitor your employees’ activities while on business trips to ensure they adhere strictly to your travel policies. They also provide accurate reporting tools to keep you updated about their traveling expenses.

This way, you won’t spend time tracking your employees’ activities while they travel and can focus on running your business efficiently.

Also, travel management companies provide standardized processes for your business travels, which keeps your processes organized, so your employees can follow the right procedures and save time while they travel.

So, if you are looking for a way to spend less time planning your business travels and spend more time running other important business activities, hiring an efficient travel management company is the way to go.

3.    They provide duty care and travel risk management

If you want to ensure a high-risk management system for your employees when they travel, hiring a travel management company ensures your employees’ safety.

They put appropriate measures to ensure they have a safe and secure trip, including monitoring the weather conditions and providing timely assistance in emergency cases.

Additionally, they offer expert consultation services to help you navigate health and safety conditions for business trips. For example, they advise you on the best travel policy to create for your employees and offer the best recommendations on safety and health practices before, during, and after business travels.

Travel management companies investigate and analyze other companies’ security states to ensure they are safe to travel to, connect travel data and GPS for effective tracking and give 24/7 support to your staff when they travel.

Offering your staff duty of care and putting adequate travel risk management is critical to showing your employees how much you care about their well-being; it is also the way to ensure their safety when they travel.

Therefore, if you want to create safe and successful business travel experiences for your employees, you should consider hiring a reliable travel management company to prevent, monitor, and respond to your employees’ business travel risks.

What to look out for when hiring a business management company

Source

When hiring a travel management company, it’s critical to hire the best one that will meet your company’s needs.

By doing this, you can provide the best business travel experience for your employees and get the most from your investment.

However, to do this, you must be on the lookout for five essential qualities:

1.    Reliable customer support

An excellent travel management system offers 24/7 personalized customer support to meet their clients’ needs.

They also provide different channels for their clients to send their requests and enable communication in multiple languages for better accessibility.

By offering these customer support features, they can meet your company’s travel demands in emergencies and mitigate and control risks.

2.    Seamless booking experience

The best travel management companies provide a straightforward booking experience for their clients. This includes avoiding the time-consuming process of sending and responding to emails back and forth and creating a centralized platform to book and respond to their clients’ inquiries from one place.

A simple booking experience also enables the managers and employees to book their trips themselves without third-party interference. By creating a collaborative booking system, your managers and other staff members can book, reschedule, cancel and track their travel expenses easily.

3.    Accurate reporting and analytics

A functioning travel management company provides accurate insights on travel expenses and financial activities.

They provide detailed reports and analytics of how much your employees spend to ensure they do not exceed the company’s budget. They also provide updates on activities that are out of the company’s policy to take timely actions.

By opting for a travel management company with accurate reporting and analytics you will have access to real-time data and reports to track your employees’ expenses when they travel.

4.    Advanced technology

Travel management companies need the best tools and resources to function efficiently. With the right technology, they can automate different activities and provide a faster travel experience for you.

They also provide reliable and real-time insights to keep you in the loop about how much your employees are spending, with proper measures to ensure a hundred percent compliance with your companies’ travel regulations.

5.    Data security

It’s crucial for you to work with a travel management company that ensures the proper security of your company and employees’ information.

For example, your employees’ emails, addresses, and other contact information need to be secured to ensure their data is not breached.

Check out their data security policy to ensure they can safeguard your company’s sensitive information efficiently before you hire.

Conclusion

Hiring a travel management company offers immense advantages for your company. In this article, we explained the three most prominent reasons to hire a travel management company to manage your corporate travels.

Author Bio:
Lydia Iseh is a writer with years of experience in writing SEO content that provides value to the reader. As someone who believes in the power of SEO to transform businesses, she enjoys being part of the process that helps websites rank high on search engines.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post 3 Reasons Why Your Business Should Use Travel Management Companies appeared first on OpenBusinessCouncil Directory.

While NFTs are gradually taking up across all the industries- art, architecture, sports, entertainment, adventure, leisure, and many more, LynKey provides an innovative way that strategically employs the trust and reliability of the blockchain principles for a luxurious holiday experience.

LynK, the utility token bestows the holder with ownership rights over the vacation property under the timesharing scheme of investment. With the reliability of smart contracts, the project opens a window of opportunities for travelers and service providers for a profit-yielding travel business.

How LynKey can revolutionize the travel industry?

The travel industry is expected to start back on its trajectory by 2022, to regain its full momentum by 2025. Tourism can be empowered with NFTs where suppliers can create, store, and sell their services in the form of NFTs over the LynKey platform. It utilizes deflationary utility LynK token to issue or claim the NFTs.

With products like wallet and marketplace, LynKey community is used as a ledger that transparently reflects the bookings made over this network. Further, all the related and popular details are suggested to the user for an exquisite holiday experience. Moreover, all this is done most securely, with no chances of being tampered with by anyone. Not just that, you do not even need to involve any middleman or third party to accomplish all this!

Some of the key goals of the platform include the following

• Creating innovative opportunities for travellers, hotel and hospitality operators, and other tourism service providers. This would ease the recovery of the tourism post-pandemic phase.

• Spreading awareness about the cryptocurrency among the suppliers and travellers, and expanding the markets for NFTs and timeshare

• Linking the market strategists with as many verticals as possible, creating an interconnected network of business to build a healthy ecosystem.

Further, LynKey’s reward program would benefit you every time you get yourself involved in any of the platform’s products. Stay tuned for the latest updates

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Blockchain Solutions For Timesharing In Vietnam With LynKey appeared first on OpenBusinessCouncil Directory.

Timeshare, on the other hand, is the arrangement where several owners share a vacation property according to the fraction they can pay for. In other words, if you are involved in a timeshare scheme, you will enjoy the right to use that share of the property you have bought as a holiday home.

LynKey provides timesharing solutions to Vietnam’s economy by introducing a marketplace that can help you utilize your vacation property. The real estate is given the power of an NFT asset to use the blockchain’s security network and provide a world-class luxurious holiday experience to the stakeholders.

Creating a timesharing opportunity to capitalize on the desperation of the vacation industry post-pandemic crisis

COVID-19 pandemic created a worldwide situation of crisis, giving the travel and tourism industry the hardest blow anyone could ever expect. Though the timeshare concept has been there for quite some time, crypto travel is still in its infancy. Blockchain is providing the solutions for money, health, travel, and almost everything at such a fast pace, that timesharing is also guaranteed to witness evolution.

LynKey is the community created to tokenize premium holiday properties at selected sites in Vietnam and South-East Asia. The ecosystem links global audiences to tourism and property technology using smart contracts and NFTs. The rewards and loyalty benefits are digitized in the form of tokens. Moreover, the power of blockchain can help you plan your vacation in the most transparent and reliable manner possible.

Merging NFTs with timesharing bestows you with the following advantages:

• First access opportunity to buy and license experiences at premium holiday properties- LynK tokens are managed peer-to-peer, with rights to be sold, transferred, or traded over the ecosystem’s marketplace.

• Excellent staking and yield farming rates Further, you could also collateralize by lending LynK tokens and asset shares, and earn excellent margin licensing rates.

• VIP treatments at all LynKey resorts LynK token holders would be able to swap the days, the incentive points, and the location (of other resorts) later among themselves, on the marketplace, or within the LynKey ecosystem.

• Play-to-earn: major proportion of token revenue in the ecosystem is given back to the holders.

• You would easily be able to make a connection with these if you are well versed with the blockchain’s terminologies. For the beginners as well, LynKey would evolve to reap the fruits with your advancing knowledge.

NFTs and Timeshare collaboration promise a bold new future

It is quite evident that the timeshare market is not going to upgrade overnight. Gradual beginnings are going to make a long-term impact on the real estate, travel, and tourism industry in various ways one could not have predicted earlier. LynKey is a prospective venture to invest your hard-earned crypto to enjoy a much-deserved luxurious holidaying experience in nature’s own place.

Follow and like LynKey on Social Media:

Instagram: https://www.instagram.com/lynkey

Twitter: https://twitter.com/LynKey_

Telegram channel: https://t.me/LynkeyToken

Telegram chat: https://t.me/LynKeychat

Reddit: https://www.reddit.com/r/LynKey_Global/

Facebook: https://www.facebook.com/Lynkeytoken

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Timeshare And NFT Powered Solutions For A Premium Vacation Experience appeared first on OpenBusinessCouncil Directory.

We live in an era where we can connect with consumers, clients, and business partners who live thousands of miles away. Nonetheless, this doesn’t mean that face-to-face meetings aren’t still valuable, which is why for your business you may have to hop on a flight to another country overseas to meet with people for business purposes.

Here are three tips you should apply the next time you embark on an overseas business trip:

Tip #1 – Research About The Native Culture and Customs

Before you leave to any country, you should at least invest a little of your time into learning about the culture and the customs of that country. There are a wide number of ways you can do this: you can watch YouTube videos, read articles and books, talk to colleagues or relatives or friends who visited the country before, and even attend cross cultural training seminars as well.

Specifically, you want to focus on the native customs and cultural norms that relate to business. For example, is it considered rude to arrive even just a minute or two late? Do business meet-ups tend to be formal or informal? Is it considered polite to bring a small gift? Should you engage in small talk before the meeting begins? Those are the kinds of questions what you would need answered.

Tip #2 – Have A Means To Pay For Thing

Traveling to any foreign country means that you will need to have a plan on how to pay for things, and again, there are a wide variety of ways to do so. The first method would be to use a credit card that can be used in a foreign country, and hopefully one that will charge little to know fees for each transaction.

Another method would be to use a remittance service where you can send yourself money. Remitly notes that you can easily do this on an app, where after signing up, you simply select the currency to convert your money into and then select a recipient (which can be yourself.

Tip #3 – Try To Become Conversational In The Native Language

You don’t have to become fluent in the native language of the country you’re traveling by any means, but you should at least strive to become conversational by learning basic words and phrases. This can be a great way to pass the time on your flight over. When you meet with people in the upcoming business meeting(s), they’ll at least appreciate the effort of you attempting to learn the basics of the language.

Embarking On An Overseas Business Travel Trip

In many ways, traveling overseas for business purposes isn’t all that different from travel overseas for vacation or leisure. Still, you will want to put extra effort into things like becoming conversational in the native tongue and learning about the local culture, as doing so will make you seem much more professional and prepared.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post 3 Tips For Business Travel Overseas appeared first on OpenBusinessCouncil Directory.