Technology has been adopted by this generation in the tourism industry. This connected generation is therefore primed to immediately appreciate and adopt the revolution that NuGenesis Interactive NFTs can bring.
NuGenesis has 4 patents pending on key aspects of its blockchain tech. NuGenesis expects it interactive NFTs to revolutionise the tourism in fundamental respects. NFTs will be in the from of tickets, accommodation vouchers, frequent flyer and loyalty programs all interacting together. They will update you instantly of what hot in tourism, boast your travel status, verify the reviewers you take into account, holding everyone in the travel chain accountable, pay your bills and give you bragging rights all at the same time.
Why NuGenesis in particular? NuGenesis is an advanced technology for its blockchain infrastructure which is Gas less. That is, free to make and exchange. NuGenesis transaction speeds are beyond a million transactions per second with a 200 millisecond block finality. When combined with its various consensus mechanisms, it means that its load balancers are furiously packing 5G blocks and the security is supervised by the NuGenesis’ AI.
This means your NFT collection, however stored, will be continuously ‘layering up’ as it interacts with other NFTs in the travel experience. NuGenesis is not like other blockchains on the market, it is built for data analytics in mind. This technology will be your guide to all transactions made especially when you travel, from the booking of your ticket or travel, documents, etc, will be stored on-chain and secured. Your entire holiday video can be stored on-line.
According to NuGenesis CEO, Hussein Faraj “NFTs, particularly our interactive NFTs, will be a form of communication of who we want to represent, or values, tribal connections and relationships”, which conclude that NFTs are about social expressions of ones selves.
NFTs are a validation for real reviews, searchable on the explorer and revealing history of a reviewer and its credibility. Travellers can experience the latest updated system of the technology just like about their travel experiences, etc. We now look at certain impact on the industry in detail.
THE TOURISM AND TECHNOLOGY
The tourism industry is increasingly considered a critical part of the economy of many nations‚ contributing to economic development‚ employment‚ and personal well-being. Tourism has been technologically-driven since the use of the Internet as a means to support all the phases of the travel process‚ from pre-trip decision making to the post-trip recollection. Dedicated travel websites and social media platforms with photographs, video and tourist ratings provide a window for potential tourists to view and evaluate the destination before making the decision to purchase their travel.
With Interactive NFTs, platforms such as accommodation-sharing application Airbnb and ride-hailing applications such as UBER will be able to provide greater options for foreign tourists. These platforms enhance consumer trust because they increase transparency to the end-user (e.g. the traveler). NuGenesis Interactive NFTs are the perfect instrument for the success of the tourism industry. Travellers can take advantage of this advance technology what NuGenesis has to offer. The tech provides security, trust, transparency protects privacy and holds providers accountable for liability issues.
Empowering Trust Building Through Transparency
NuGenesis Interactive NFTs will promote trust and confidence in the online travel platforms. NFTs, whether in the form of a ticket, loyalty program membership, Airline Travel Membership scheme or more likely, the collection of all of them on your wallet will be cryptographically secure‚ immutable‚ and update-able via a consensual agreement between all the registered parties in the network. NuGenesis Blockchain NFTs could be a means for realising neutrality and objectivity if embedded in travel information systems. Common practices of concealing information from customers‚ especially at the pre-travel stage (e.g.‚ airlines‚ itineraries, vacancies etc.)‚ could be entirely mitigated in a searchable and verifiable NFT Blockchain-based tourism environment.
Control and Power back to the NFT Traveler
NFT Blockchain technology provides an interactive and human-centric platform for potential travellers. NuGenesis interactive NFT technology creates benefits for consumers by having their control over their experiences. NFT tech technology provides full audit-ability‚ a high level of tourism market discipline‚ accountability‚ and integrity. NuGenesis NFT tech could solve the problem of many travel governance systems lacking the capacity to enforce tourism accountability and with no source of income to support audit-ability‚ recourse‚ and remediation of damage or any other expenditure.
Disintermediation in Travel Activities
NFT tech shortens the intermediation chain and allows the omission of many actors through the resort to virtual travel agencies. NFT tech allows travellers to independently organise themselves and travel even if intermediaries in travel and tourism did not exist. Unlike existing digital intermediaries and traditional travel agents which entail a centralised offer and possibilities of minimising the search costs between the transacting parts‚ the disintermediation provided by NFT Blockchain technology could speed up transaction processing among geographically dispersed entities while eliminating the interest and surcharge that intermediaries impose on their customers.
Securing Travel-Related Transactions
NuGenesis NFT technology promotes an increased sense of travel flexibility and a more user friendly environment. NuGenesis’s Nucoin, could help in facing risks associated with tourism settlement and payment infrastructure. Travel agents and tourists could easily and securely interchange money without the need for trusted third parties (banks). This technology is very suitable for the tourism industry whereas the financial data transmission is very sensitive and the personal information of tourists is critical and cannot be entrusted to intermediaries. Drawing on NuCoin, NuGenesis’ native coin, and universal nature of cryptocurrencies‚ tourists would no longer need to convert currencies when they travel to other destinations‚ thus avoiding any potential delays‚ inefficiencies‚ and risk of foreign currencies volatility. The use of NFT Blockchain would provide a means of diversification‚ public relations strengthening and a fortified support to incapacitated tourist destinations.
Creative Loyalty Programs
NFT tech allows the leverage the rewards programs by integrating traceability‚ tradability‚ reliability‚ and convertibility capabilities into the system. NuGenesis has NuChain Slots, smart chains for immediate and easy issue of tokens to compliment and interact with the NFTs. Travellers could not only receive loyalty points as part of their contribution to the platform‚ but they could take advantage of these reward points by converting them (i.e.‚ into fiat)‚ buying‚ selling‚ or exchanging them with other network members. NuGenesis NFT platform has created the rails for the development of a C2C market where exchange opportunities overlay on a wide range of loyalty programme components.
These are the key features of Blockchain-based reward programme;
Reliable Online Travel Reviews
Studies show that online reviews are among the most important factors impacting on online hotel bookings. The majority of online review readers consider other travellers’ reviews a valuable source for up-to-date and more reliable information than provided by travel service providers. The problem is three is a growing awareness that a great number of review are fake. NuGenesis NFTs, become a source of verification and validation of reviewers. This assures potential travellers that online reviews are authentic, reliable and fair, as this technology could provide a trustful place for online travel reviews.
NuGenesis NFTs will, it is anticipated, provide decentralised‚ trustworthy‚ unbiased and transparency review system. Once any review has been recorded in the Blockchain ledger‚ it would not be possible to make revisions or removal actions. Blockchain preserves the confidentiality of content creators while incentivising all participants in the online travel review system by financial rewards in form of tokens and cryptocurrencies. The NuGenesis ecosystem intends to use its soon to be launched, crypto-centric social media platform, Just Social to facilitate community participation.
Conclusions
The travel and tourism industry is an instrumental sector that contributes to economic development and job creation around the world. Tourism is a key to development‚ prosperity and well-being as it fosters the creation of jobs and enterprises‚ export revenues and infrastructure development. Online travel-related transactions exhibit greater risks than transacting in traditional environments. Potential risks involve‚ but are not limited to‚ auction fraud‚ gaming fraud‚ spamming‚ and identity theft.
NuGenesis NFT blockchain tech is expected to generate and nurture trust by increasing transparency. NuGenesis NFT Blockchain technology has the capacity to provide a high level of visibility of all information throughout the travel process‚ extending from the planning to the post-trip phase. The transparency enabled by NuGenesis NFT tech could lead to a personalised co-creation which is reflected in the ability of travellers to create and openly share their travel experience with potential consumers and to interact with the environment that the destinations facilitate. Similarly the tech fosters an increased sense of tourist independency‚ transactions control and monitoring‚ and appropriate redress mechanisms could be achieved through NuGenesis NFT Tech in tourism. NuGenesis NFT Blockchain technology has the ability to offer more disintermediation in the tourism industry. The adoption of NFT Blockchain in the tourism offers more effective solutions to critical and serious security touchpoints in the industry. The NuGenesis NFT Blockchain-based loyalty programmes allow tourists to instantly track their reward points‚ convert them to a wide range of options‚ and exchange them for cryptocurrency. And lastly, the interactive features of the NuGenesis NFT tech and its human-centric trust model empower tourists and encourage them to get more out of their travel experience. It will increase sense of tourist independency‚ transactions control and monitoring‚ and appropriate redress mechanisms could be achieved through NuGenesis NFT Tech in tourism.
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