New Blockchain-based travel billing and settlement platform Travel Ledger has appointed Applied Blockchain as its development partner.
The developer will build a minimal viable product for Travel Ledger, which once live will be overseen by the not-for-profit organisation Travel Ledger Alliance.
Canary Wharf-based Applied Blockchain has a team of in-house developers that has built blockchain applications that are now live in production environments, being used by real customers.
During the initial analysis stage of the project the Travel Ledger team built a platform “prototype” to validate the technology and learn which areas to focus on during the upcoming development phase.
Founder of Travel Ledger Roberto Da Re of Dolphin Dynamics, said: “It was very valuable to evolve our thinking through working with a prototype and a real platform we could interact with.
“Now we have a much clearer idea of requirements and can quickly proceed to the next phase, which is to build a minimum viable product.
“Applied Blockchain will design the platform and carry out the development from the ground up leveraging their own development tools and experience gained in their previous projects building solution on the Ethereum platform.
“Blockchain development is a new and very specific area of expertise and while our Alliance partners provide access to great skills in the travel technology space, working with an organisation that can provide us the best available knowledge and experience in the blockchain space is vital to ensure the success and scalability of the project from the outset.”
Travel Ledger said Applied Blockchain was selected for its expertise in the financial sector, including business-to-business integration and payments.
“For Travel Ledger this means that they not only understand the concepts of business-to-business billing and settlement, but also the fundamental requirement relating to confidentiality and security,” added Da Re.
Travel Ledger plans is to deliver a minimum viable product on a “test net” by early July so that travel technology companies can start testing the API and integrating ahead of a pilot phase in the autumn.
Da Re said: “We are looking forward to working with Applied Blockchain; we felt we are like-minded in wanting to deliver a robust and practical solution, while understanding the requirements of an enterprise solution that over time will have to run mission critical applications for a very large number of companies.”
Adi Ben-Ari, founder and chief executive of Applied Blockchain added: “We are very excited about working with Roberto and the Travel Ledger Alliance to develop Travel Ledger.
“We share the belief that blockchain technology can revolutionise business processes and bring about greater efficiencies in transaction and settlement, and look forward to bringing these benefits to the travel industry.”