Travel Ledger press release about the Alliance joining TTIFebruary 18, 2018 9:37 pm
TRAVEL LEDGER ALLIANCE TO JOIN TTI
Travel Ledger Alliance to award TTI an advisory position on the Travel Ledger Board
London, February 13, 2018– The Travel Ledger Alliance announced today it is to become a member of TTI, the Travel Technology Initiative, and intends to work closely with the industry body to advocate the Travel Ledger platform and services to TTI members and ensure that any future development is in line with other standard setting initiatives.
The TTI has been developing and promoting technology standards in the travel industry since 1989. In that time, TTI has become the recognised authority on Electronic Data Interchange and e-commerce within the European travel industry and has also developed and introduced standardised ticket formats for ATB2, published the ferry standard Unicorn and more recently coordinated the roll out of TTI codes to uniquely identify hotels.
Travel Ledger Alliance is a new organisation that is leading a project, based on blockchain and smart contract technology, to build a distributed billing and settlement platform for the travel industry that promises to highly automate the travel purchasing process along the entire distribution chain. The Travel Ledger platform will replace the current billing, reconciliation and settlement process to make it fast, easy and inexpensive to transact non-airline provided travel services.
Travel Ledger Alliance is in the process of forming an advisory board of industry players to steer the project and has offered TTI a key position. This team will set the standards and control access, ensuring that only accredited travel companies will be given access.
Roberto Da Re, Founder of Travel Ledger Alliance said, ”TTI has considerable experience in developing and setting standards for the travel industry and their expertise in this area will be extremely beneficial to the Travel Ledger Alliance. Furthermore, we greatly value their input in a ?governing role for the Travel Ledger platform.”
Tim Wright, chairman of the TTI added, “I am really excited about working with the new Travel Ledger initiative. The industry has been crying out for a workable solution to the non-airline billing, reconciliation and settlement process. This speedy, cost effective and easy-to-use solution is the way forward. TTI is delighted to be involved and add our knowledge and expertise to this new venture. This is exactly the type of technology standard that TTI is looking for and we are delighted to be involved right from the start.”
TTI and the Travel Ledger Alliance will run their first joint event on 1st March 2018 in London during which the Travel Ledger initiative will be officially presented. Please register at www.travelledger.org to receive our newsletter and an invitation to the event, alternatively visit the TTI website to register for the event: www.tti.org/home/events/ttihub-march-2018/
The Travel Ledger smart contracts and the platform APIs will be published as Open Source software, so that any travel technology company will be able to audit the platform while giving them the capability to develop their own applications that will interact with the Travel Ledger platform (after certification by the Travel Ledger Alliance).
The Travel Ledger Alliance is also exploring a more extensive cooperation with the TTI enabling them to take on additional functions, such as validating that a company requesting access is indeed a travel company and providing them access credentials.
The TTI runs education programs for the industry and is considering offering education programs covering blockchain, smart contracts and other emerging technologies.
Travel Ledger Alliance is the governing body for the Travel Ledger project; composed of a small board of advisors and an operational body to manage the Travel Ledger platform, its development team, plus a business development team promoting the API to travel technology companies around the world.
The Travel Technology Initiative (TTI) was founded in 1989 to establish technology standards within the travel industry. Since then, TTI membership has grown to over 80 members covering countries across Europe and the USA.