As with every other industry these days, Cryptocurrencies are also making inroads into the travel industry. Travala, a travel booking platform, recently revealed that they would accept NANO as a payment option. With this Travala will enable the users to pay for their services in eight significant cryptocurrencies, the other seven being Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Tron (TRX), and Binance (BNB). Travala also has its own NEP5-compliant token called AVA.
Travala, established in 2017, calls itself the Next generation Online Travel Agency (NOTA). It, reportedly, has 567,928 Properties in 210 Countries covering 82,311 Destinations. The platform combines the best of this generation’s booking website functionality with the incredible benefits enabled by next generation’s decentralized technologies and tokenized incentives. It is powered by NEO Blockchain and is considered as the Airbnb of the Crypto world. Currently, they are focusing on Incentive Economy Business Model where customers will get tokens, for using their website or referring to others, which can be used for further bookings. Regular use of platform will earn a customer enough reputation that will allow them to avail additional discounts.
The company hopes to provide more value to its customers and expects to beat its competitors by offering rates 45% lower than them. Travala cuts out the middlemen and helps travelers directly speak with the merchants, eliminating any doubts regarding their travel plans. The company website claims that their prices are always at a minimum average of 15% lower than the other mainstream Online Travel Agencies (OTAs). All the transactions are validated through blockchain-verified reviews for 100% feedback authenticity.
Initially, they had proposed that all payments made by the user would be processed through the AVA token only. However, due to below par business, they reconsidered and added options for other cryptocurrencies and also included the options to book hotels using PayPal, Visa, MasterCard, American Express, and Discovery. Travala is one of the first travel agencies which has both leading cryptocurrencies and traditional (FIAT) currencies as payment options.
Cryptocurrency Nano (NANO) was formerly known as RailBlocks (XRB). It is a low-latency, high-performance cryptocurrency which is built upon a block-lattice data structure to allow for unlimited scalability and zero transaction fees. The Nano protocol is considered practical for everyday use as it can run on low-power hardware. It is priced at $0.801 and is the 42nd biggest crypto by market cap.