Claiming to be the first company in the hotel distribution industry to implement a blockchain initiative, regional B2B travel distributor WebBeds, part of Webjet, has completed Memoranda of Understanding with three Asian hospitality companies for the use of its blockchain technology.

Rezchain allows companies to address mismatched data in real-time, eliminating disputes – estimated at between 3% and 5% of all transactions – at invoice time. WebBeds sells more than 250,000 hotels rooms worldwide to travel agent partners via their API and online channels.

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