Blockchain technology has revolutionized a multitude of industries, and now Marco Travel is bringing it to the travel industry. The idea of a record-keeping system being secure enough that it eliminates the possibility of a point of entry for hackers, makes it nearly impossible to get hacked. 

What is Blockchain? 

Most simply defined, blockchain is a decentralized distributed ledger that records the source of a digital asset. These records are stored on a system that essentially has different versions of the history, and no initial point of entry, making it nearly impossible to hack by any single person. 

The History of the Travel Industry 

The hospitality and travel industry has completely evolved over the years. People used to visit their high street travel agents as their main method of travel planning. This traditional market has since been displaced with online travel agents, and today everyone has access to unlimited information, booking platforms, and reviews from thousands of like-minded individuals based on their personal experiences. 

Payments in the Past 

Historically, these middlemen that facilitated travel bookings manipulated and monopolized the industry, taking commissions of more than 50% in some cases, and an average of 30 - 40%. Commissions decreased to 15-25% when the industry went online and today with the power of blockchain, travel and leisure will be affordable for all. 

Marco Travel 

Marco travel is the world's first smart-contract based protocol that connects all consumers and businesses in the travel industry on a decentralized ecosystem. This system incentivises content creation, such as reviews and ratings, etc. which previously travelers would do without being rewarded. The intention of Marco Travel is to solve all the problems including the high commission margins by hotels. Hotel brands often offer loyal consumers "points" in the form of discounted rates for returning visitors. This loyalty program is present in almost every existing hotel chain and airline to encourage returning customers, but restricting consumers by forcing them to use the same brands. The marco token (MRC) is the unit of exchange in the ecosystem, these tokens are not only used to incentivize content, but they are also used as a unit of exchange for real goods and service.