Dubai has officially announced its intention to democratize tourism by creating a virtual business-to-business market for the travel industry, with an additional distribution channel for hotels within two years.
According to Arabian Business, the tourist leaders of the largest and most populous city of the United Arab Emirates hope to offer tourists around the world a myriad of choices from the local tourism industry, using the secure, transparent and instantaneous environment of the blockchain. A statement by the Dubai tourism leaders explains: “It positions Dubai as a think-thank and innovation leader seeking to truly democratise travel.”
The statement also clarifies the intention of the initiative to use smart contracts to provide travel itineraries at transparent prices, allowing tourists to take control of their personalized travel plans.
Democratizing the Dubai tourism industry with blockchain technology has three purposes. Firstly, it aims to increase the number of tourists making it easier than ever to plan their trip.
Secondly, it prevents larger companies from overshadowing smaller companies, thus offering equal opportunities to all those seeking to make a profit in the tourism sector.
Finally, the initiative also facilitates space competition by giving newcomers and entrepreneurs the opportunity to get involved, which should increase employment.
Helal Saeed Almarri, director general of Dubai Tourism Explained:
“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.
“In his launching of the 10X projects across government entities, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, had noted that with this innovative model that reflects the creative potential of our nation, we are ushering in a new phase of development for government services by transforming a whole host of innovative ideas into reality.”
BUILDING THE FUTURE ON BLOCKCHAIN
This is not the first time that the famous 10X Initiative in Dubai has promoted the development of blockchain in the United Arab Emirates.
Launched at the fifth world government summit last year by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, president of the Dubai Executive Council, the 10X initiative in Dubai aims to make the city’s governmental entities 10 years more advanced than to the rest of the world in every way, shape and form.
As part of the initiative, the Dubai Transport and Road Authority recently announced plans to set up a blockchain-based vehicle management system, allowing owners to track their vehicle for the duration of the vehicle, from its construction until its destruction.