Further Network is a cryptocurrency-based ecosystem specializing in travel and tourism. It was created with the goal of solving issues related to payment, transaction costs, billing structure and settlement not just between travel agencies and their client, also solving settlement issues between airline to airline and airline to travel agencies
Further Network makes use of Blockchain technology to bypass the long chain of transactions that occur between agencies, airlines, hotels, tour guides and providers of similar services.
The network is decentralized and autonomous. The concept was designed in September of 2016. The benefits gotten from this concept are akin to the benefits you get from a travel agent: except they are so much more and the system is purely automated – like having a digital travel agent of your own.
The Structure of Further Network
Further Network is like a typical supply chain, with subscribed members (in the travel industry) being interconnected on a global level. However, the platform possesses its Blockchain technology and digital currency. It will be formed as an exchange market for tickets and reservations.
The E-ticket will be made available by Further Network and is customizable according to the preferences of the parties involved. The Blockchain foundation will make data storage of the transactions between these parties more efficient and less likely to be sabotaged. With Further Network, any airline, travel agency or hotel can create a Smart Contract for the sale of their assets.
The Further Network Token is the ATON, a token standard based on Stellar. This token is mainly for payments. There is a second piece of the pie, called the Smart Travel Record (STR). This is the key data holder of flight details, hotel reservations or any travel product. The STR is a legal binding contract with terms and conditions. It works together with the ATON to ensure a smooth and hassle-free billing and payment procedure.
Further Unique benefits
Further Network is set to defy the norms involved with airline and travel transactions. It has raised the insight of the cryptocurrency market by showing that everything can be digitalized. For example, it has reminded people of the fact that an E-ticket – although made tangible via printing – is still just plain data. It is neither configurable nor actionable (unless altered). That’s where Further Network comes in. The necessary technicalities are put in place to make structural changes in an E-ticket so that it becomes versatile with more functionalities than being just a document of flight information.
The system is so flexible that not only can your ticket be customized to suit your personal needs, it can also be transferred to a second party. Individuals will, therefore, have more control over their assets.
The Further Network company has a high chance of succeeding because it does not follow the conventions of a regular travel agency. The great thing about it is that it caters to both individuals and big companies. Further Network envisions a future where people can travel without the worry of the security problems of carrying huge sums of cash along with them. With Further Network, transactions can be made, with digital money transferred and converted to one’s local currency.
Find out more on the website: https://further.network/
Download the Whitepaper here: https://further.network/whitepaper/whitepaper-latest-en.pdf