Web3 offers practical solutions for many of today’s problems.
But where can it be applied to the travel tech industry? Which areas of modern tourism may benefit from blockchain technology? And how?
Flywallet co-founder and CEO, Thomas Negrit, recently spoke with Eugene, a.k.a. CryptoEmcee of ENVELOP, to discuss the possibilities of Web3-enabled travel tech and the future of digital travel.
In this article, we give you a sneak peek into what was said in the podcast and reveal some of the opportunities that Web3 presents for the travel tech industry and beyond.
In this blog:
- How Flywallet is embracing Web3
- Where NFTs fit into the travel tech space
- The future of Web3 (predictions)
- How to learn more about Web3
Let’s break it down.
Web3 + Flywallet: Financial Inclusion Meets TravelTech
In the podcast, Thomas explains how a career in international relations and finance led him to create Flywallet.
While working for the United Nations, Thomas managed several projects focused on financial inclusion and empowering local communities to achieve financial independence.
“It opened the rabbit hole for me … [I kept] going deeper and deeper. Eventually, I decided to start a financial service to make travel global.”
And so: Flywallet was born.
To achieve this goal of financial inclusion and global accessibility for travel, Thomas knew the future was with blockchain technology and cryptocurrencies.
Flywallet, as the name suggests, is a savings account that helps people travel.
“What’s exciting about Web3 is that there is no limit [in what can be achieved]. Imagination is the limit … Web3 is here to innovate every industry.”
Thomas strongly believes in the benefits of travel; it’s an expense that makes you richer for the experience it gives. He created Flywallet to make travel accessible to everyone, regardless of their income or geographical location.
Booking flights with cryptocurrencies is just the first step in a grander scheme to make Flywallet a tool that truly connects the world.
NFTs and Travel Tech
Web3 transactions are token-based – an underlying feature of Flywallet.
By making it possible to book flights using cryptocurrency tokens, Flywallet offers a unique offramp for spending tokens.
In the future, Thomas is planning to create a Flywallet NFT that will replace the current air-miles reward system used by most airlines.
The main advantage of this NFT would be huge: Travelers could earn mileage on their flights without having to remain loyal to a single airline.
But that’s not all NFTs have to offer.
In travel, there are many practical use cases for NFTs – Flywallet is only one example.
The ability to transfer, exchange, and even rent tokens offers so much potential to bring Web3 to the masses.
“The most promising use case [of tokens] in the Web3 space will be NFTs. Our future is [shaping up] to be more NFT-based than cryptocurrency-based. I believe non-fungible tokens are a much more pleasant and organic way to transact. And we’re only just getting started.”
On one side, Flywallet gives those already familiar with Web3 an opportunity to spend their tokens on something tangible.
On the flip side, it presents a way for people interested in travel but unfamiliar with Web3 to see first-hand how great the ecosystem can be.
“We’re offering a gateway that brings people into the world of Web3 through a simple experience like booking a flight.”
Flywallet wants to make the user experience as seamless as possible. For this reason, people with little or no knowledge of Web3 and blockchain can still reap the benefits.
Rather than putting Web3 forward, Flywallet’s primary communication focuses on making travel more affordable and accessible for all. When users learn that Web3 is a key enabler for these benefits, they start to develop a natural curiosity about it.
The Future Of Web3: Where Are We Headed?
As we’ve discussed, Web3 has the potential to create new opportunities and an even playing field for all as we uncover more and more use cases.
Eugene asked Thomas what he thought the next 5–10 years could look like thanks to Web3.
“One thing I’m excited about is that [land] borders won’t really matter anymore [outside of the physical realm].”
Two significant examples of this include being able to:
- Transact internationally in a matter of seconds.
- Sell products and services to customers around the world without the payment method being an issue.
Thomas goes on to highlight the positive effect it will have on innovation in general.
“It’s going to make innovation even faster and more consistent. A global community is going to be more realistic than it ever was.”
When it comes to Web3, one thing is clear: It’s not going anywhere.
Like thousands of others, Thomas firmly believes in Web3 and expects growth and global awareness to continue scaling at a rapid rate.
In other words, there’s no better time to start learning about Web3 than now. Speaking of learning…
How To Learn More About Web3
Web3 is still in its infancy.
This means that interested parties must perform their own research to get more familiar with the concept.
Luckily, plenty of resources are available for anyone wishing to educate themselves on Web3 and blockchain technology.
Thomas suggests Web3 newbies look into the following spaces for more information:
- Twitter discussions
- Discord channels
- News about digital currencies and current trends
“Universities are going to start teaching [Web3]. This is going to be part of our reality. If you don’t want to be overwhelmed, I definitely recommend starting with Bitcoin and then going deeper into [areas like] proof-of-stakes. Take it step-by-step.”
Curiosity is the biggest catalyst for Web3 education.
Once you begin to conduct your own research into all the possibilities Web3 has to offer, you’ll find that more information around it will begin to present itself organically.
All you’ve got to do is get started.
Learn more about ENVELOP: https://envelop.is/
Learn more about Flywallet: https://www.flywallet.io/
Subscribe to the ENVELOP podcast: https://www.youtube.com/c/ENVELOP