The Internet changes the world, Lotto uses blockchain to change people’s perception of travel

With the rapid development of the Internet, the tourism industry has undergone rapid changes in recent years. From offline to online, to PC to mobile, the tourism industry is advancing rapidly towards convenience, efficiency, tolerance and mutual benefit. However, in the process of this rapid development, user privacy issues, cost issues, credit issues, points issues, bundling sales, and even the use of big data to “kill familiarity” and other negative aspects are frequently exposed, which has caused a lot of impact on the tourism industry. Bad influence.

The Internet changes the world, Lotto uses blockchain to change people's perception of tourism-ChainBei Finance

Bear the brunt of the huge price difference in the tourism industry due to information asymmetry and middlemen . Due to the professional and regional threshold, many transactions in the tourism industry have multiple links or multiple middlemen. Such opaque prices and large “link costs” are factors that reduce the passenger experience. If it is effectively combined with blockchain technology, its decentralization, reliability and other features will provide a lot of benefits in reducing transaction links and lowering the share of intermediaries. It will also prevent the occurrence of “overbooking” and improve passengers Travel experience.

Secondly, in the Internet age, all kinds of false news and false comments are flying everywhere, which brings a lot of confusion for travelers to choose travel tools and stay in hotels. When the information of various service providers in the itinerary is on the chain, the comments are on the chain, and the immutability and traceability of blockchain technology are used, each participant is a supervisor, everyone can check, and all kinds of real comments are clear Understand, and false information or bills can be traced back to the source and retain evidence to seek justice for travelers and businesses.

In addition, the traceability and non-tampering of blockchain technology can also help passengers’ identity information retention and verification. The re-certification time originally required for air ticket booking, accommodation reservation, bill verification, etc. will be greatly reduced. Improving efficiency is also the only way to establish a “trust ecology”.

The Internet changes the world, Lotto uses blockchain to change people's perception of tourism-ChainBei Finance

Of course, in the current stage of continuous development and integration of blockchain technology, there are still many problems that cannot be completely solved at this stage, and some even include rigid conditions such as policy supervision. But for the future of blockchain + tourism In the direction of the trend, many Internet giants still firmly believe that the arrival of blockchain technology will bring disruptive changes to the tourism industry, and they have always maintained a positive attitude towards embracing.

Blockchain technology has gained attention in the financial industry. Now some entrepreneurs are beginning to combine blockchain with the tourism industry, and build a tourism ecological chain based on blockchain technology by connecting global travel service businesses and consumers.

At the China Tourism Blockchain Forum “Connecting the World and Sharing the Future” held in Beijing on the 26th, Wang Jun, the former leader of the Discipline Inspection Team and member of the Party Group of the China National Tourism Administration of the China Commission for Discipline Inspection, said that combined with blockchain technology, traditional tourism may There will be disruptive changes, and it is expected that new theories and new technologies will inject more vitality into the innovative development of the tourism industry and bring more possibilities.

At the China Tourism Development Forum in 2017, the concept of China Tourism Chain was first put forward. China Tourism Chain is based on blockchain technology and gives full play to its advantages such as multi-party participation, openness and transparency, consensus trust, traceability of evidence, inability to tamper with, and privacy protection. Characteristic, build the tourism ecology on the chain.

The Internet changes the world, Lotto uses blockchain to change people's perception of tourism-ChainBei Finance

It is understood that based on the consensus of the cultural travel industry, Singapore Yurui International Travel Co., Ltd. applies blockchain technology to directly link travel service providers, consumers and third-party service providers to create a new concept that subverts the traditional tourism consumption concept. Tourism service cultural exchange platform-Letour Cultural Tourism Platform. Its business covers the six core cultural and tourism functions of homestay cooperation, hotel reservation, ticket reservation, scenic spot inquiry, resource sharing, and social sharing. Lotto makes full use of the blockchain technology to reconstruct the traditional tourism industry’s identity authentication, information service, credit system, pass system and transaction settlement system, and community autonomy with the expansion of the smart contract body and the top-level specific application composition. Core system. , Covering all aspects of people’s travel and tourism such as food, housing, travel, shopping, entertainment, etc., for us to create a new cultural tourism ecosystem based on the blockchain.

The Internet changes the world, Lotto uses blockchain to change people's perception of tourism-ChainBei Finance

In the tourism industry, what pain points can be solved by blockchain technology?

1. Identity authentication

All the information filled in when Lotto participates in the authentication is stored in the IPFS distributed file system using symmetric/asymmetric encryption technology, and an independent digital identity-Lotto Pass is formed.

The Lotto Pass is in the form of a string of characters in the participants’ smart devices. In some specific situations, participants can choose to authorize the release of points or all personal information, but in the general transaction and service process, other participants only need to verify the participant’s Lotto pass to verify the identity of the participant. There is no need to repeatedly obtain all personal information of participants for identity verification. On the one hand, this system prevents service providers from obtaining complete consumer information from the source, so there is no leakage and reselling of consumer personal information. On the other hand, consumers do not need to show their identity documents for identity authentication again and again in the process of trading and enjoying services, which greatly enhances the travel experience of consumers, protects consumer privacy, and promotes the healthy development of the industry.

2. Information Service

Information review: Every piece of information released by participants on the platform will be packaged into the block after preliminary screening by A+ big data. Participants have the right to modify, supplement, delete and other operations on the information they publish, but each operation record and updated information will enter the block. Due to the nature of blockchain accounting for all, that is, every piece of information is stored by all blocks on the chain, so as to ensure that the information and records released by each participant can be traced and cannot be changed.

Information display: Lotto’s information service system is composed of complex smart contract templates. The smart contract will stipulate different sorting rules according to the different attributes of the information released by the participants. In the case of the same attribute or the data is not ranked in order, the information released by the participants with high credit scores will be ranked higher.

3. Credit system

Credit scoring mechanism: In Lotto, the system will form a three-dimensional score based on the three different identities played by the participants: consumer, server, and manager, and finally form a comprehensive comprehensive credit score. The smart contract will automatically adjust the credit score of each dimension according to the specific behavior of different identities on the platform.

Credit rights: Participants’ credit scores are not only used to show to other participants, but also as reference data for other participants when they choose services. It also plays an important role in the rights and interests of the entire system. When the consumer’s credit score is too low, they will be required to pay more deposits when purchasing and using shared services. When the credit score of the service fee is too low, they will be required to pay more deposits when purchasing and using shared services. Can refuse to provide services to participants with extremely low consumer ratings. Correspondingly, if the consumer scores higher, they can pay a smaller deposit to enjoy the shared service, or they can enjoy the preferential price of the server.

4. Token system

Token issuance: Enterprises whose service provider scores are higher than the specified standard have the right to issue their own digital tokens. The total amount of digital certificates issued by enterprises is constant and on the chain. The total amount of digital certificates issued depends on the company’s own credit score and the amount of deposits paid. The deposit pledged for the issuance of digital tokens will be locked in the smart contract.

Token circulation: Digital token holders of the same company can directly conduct token transfer, gifting and other acts. Each company customizes the internal circulation rules of the digital token, and consumers can use the token inside the company according to the corporate rules. Pass holders of different companies can use EOM pass as a medium to exchange between different passes in Lotto.

5. Transaction settlement system

Lotto’s decentralized operation mode removes the third-party centralized management platform, and directly connects consumers and service providers through smart contracts to achieve point-to-point transactions and real-time settlement, and solve existing transaction settlement problems. When a participant performs payment on the platform, he transfers the designated asset from his digital wallet to the smart contract. After both parties confirm that the service is over and there is no dispute, the smart contract transfers the asset to the other party’s account, and the platform does not charge any commission. If one party does not confirm the completion of the service within the specified time, the system will default to the end of the service.

6. Community autonomy

Lotto is only responsible for maintaining the normal operation of the platform. All participants participate in the construction of the community. Blockchain smart contract rules and incentive mechanisms automatically provide credit and token rewards to participants who contribute to the community.

In Lotto, as a travel companion, you can not only obtain more timely and more favorable travel information and services, but also participate in the management of the platform and obtain unexpected benefits. And your personal information will be more securely protected. Lotto Pass allows all your personal information to become a string of independent digital identities, no one can tamper with, and no one can view the complete information.

As a service provider, you can link with consumers point-to-point zero distance, and enjoy the real service experience of no middleman to make a difference. You can get more customers, and you can also participate in the construction of Lotto and become a manager. At the same time, the issued pass is no longer a bunch of useless numbers, and will become a magic weapon for getting more tourists through Lotto. The tokens issued by different service providers are no longer independent. They will be transferred, gifted, traded, and exchanged for Lotto in various forms. You can play as you like. In short, Lotto is not only a tourism consultation circle, but also a tourism social circle, but also a tourism business opportunity circle.

The Internet changes the world, Lotto uses blockchain to change people's perception of tourism-ChainBei Finance

In the future, Lotto will not only be limited to tourism, but will also involve peripheral services related to insurance, finance and tourism, so that the public can enjoy the convenience, safety, trust and excitement brought by blockchain tourism.

The Internet changes the world, and Lotto uses blockchain to change people’s perception of tourism.

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