Algorand’s TravelX announced a strategic partnership with Cebu Pacific Air, one of the leading airlines in the Philippines.
In a post on LinkedIn, TravelX noted that the collaboration aims to enhance Cebu Pacific’s post-booking revenue management through TravelX’s innovative solutions.
Moreover, the partnership is expected to support the airline’s ongoing efforts to optimize operations and drive further growth.
While the exact date is not specified, the initiative is set to take off in 2025.
“A huge thank you to Mike [Szucs (Cebu Pacific, CEO)], Xander [Lao (President and CCO)], Racel [Sotto (Director, Revenue Management and Pricing)], and the entire Cebu Pacific Air team for your trust. We are confident that with TravelX’s post-booking revenue management solutions, Cebu Pacific Air will continue to push the boundaries of innovation and achieve spectacular results.”
TravelX
What is TravelX?
TravelX is an innovative platform built on the Algorand blockchain that is designed to address inefficiencies in the airline sector and travel industry by leveraging blockchain technology and non-fungible tokens (NFT).
Basically, the platform uses “NFTickets,” which tokenize airline seats, allowing passengers to easily manage, transfer, or resell their tickets. This approach enhances transparency, reduces operational costs for airlines, and improves the overall travel experience for passengers, according to TravelX.
This is not the first time that Travel X has platformed with an airline; it has already inked connections with Argentina’s Flybondi and Spain’s Air Europa.
What is the Algorand Blockchain?
Founded by Massachusetts Institute of Technology professor Silvio Micali and launched in 2019, Algorand is a blockchain that uses a pure proof-of-stake consensus mechanism for decentralization and high performance.
Its native cryptocurrency, $ALGO, is used to pay fees for transactions and network security.
Known for energy efficiency and low fees, Algorand supports decentralized finance, supply chains, and tokenized assets.
Cebu Pacific in Web3
This is not the first time that a blockchain initiative has been integrated in Cebu Pacific, which operates domestic and international flights, connecting various destinations across Asia, the Middle East, and Australia.
In 2018, Loyal Coin partnered with Cebu Pacific’s GetGo Rewards, allowing users to convert Loyal Coin into GetGo points via the Loyal App to redeem airline tickets.
Worth Reading: In 2023, another local airline has explored the blockchain technology.
The Philippine Airlines partnered with Philippine Blockchain Week to launch a limited NFT collection by artist Trace Orozco on Ethereum, available on OpenSea.
NFT holders received VIP perks, including Philippine Blockchain Week access and a $1,500 Mabuhay Miles ticket.
This article is published on BitPinas: TravelX Expands in PH with Cebu Pacific Partnership on Algorand Blockchain
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