Abstract
The travel industry is one of the largest global vertical markets, valued at over 8 trillion USD1. In 2016, over 1.24 billion cross-border trips were made, generating 1.22 trillion USD in revenue. It is also a highly centralized industry where a few powerful platforms control the user data, content, marketplace and dictate the terms of business. This leads to an inefficient ecosystem that marginalizes both consumers and businesses.
This paper outlines the case for the development of the Marco Protocol a next-generation travel protocol that connects all consumers and businesses to a distributed smart network for data, content, and transactions.
Consumers can own their digital identity, transactional data and receive compensation for the content they create and the data that they disclose.
Suppliers can offer their inventory directly to consumers without the cost of an intermediary and access user data across the platform on a consent basis, building stronger 1-to-1 relationships with consumers in digital marketing.
Travel businesses and IP owners can provide services, build independent dApps and launch their own token offerings to the community through Marco protocol.
Our blockchain technology brings a disruptive opportunity to reinvent the travel ecosystem, with Marco representing a paradigm shift that decentralizes data, content, and transactions in the travel industry to a secured and trust-free-open-network, and in the process, unlocking value and new possibilities for both consumers and businesses.
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