Blockchain technology can revolutionize the travel industry by addressing its outdated processes, enhancing security, and improving efficiency. Blockchain can replace the current disjointed systems, streamline transactions, facilitate secure communication, and offer robust protection against cybersecurity threats1.
What technology is the article suggesting as a solution to update outdated processes in the travel industry?
A.) Artificial Intelligence
B.) Quantum Computing
C.) Blockchain
D.) Augmented Reality
How does blockchain technology reduce the risk of fraud in the travel industry?
A.) By ensuring a transaction is validated only when both the product and payment have exchanged hands
B.) By increasing the number of APIs needed for transactions
C.) By allowing travel agents to bypass traditional databases
D.) By promoting the use of cryptocurrencies
Which network is mentioned in the article as an example of a secure communication network facilitated by blockchain?
A.) Quantum Network
B.) Camino Network
C.) Orion Network
D.) Nebula Network
Bottom Line: The use of blockchain technology not only enhances security and efficiency but also fosters trust among stakeholders in the travel industry. This can pave the way for increased collaboration and innovation, allowing the industry to better cater to the changing needs and expectations of travelers1.
Answers to the multiple-choice questions:
C
A
B
Link to the article: Embracing blockchain for enhanced security and efficiency in travel
https://www.phocuswire.com/chain4travel-embracing-blockchain-enhanced-security-efficiency-in-travel