London, 13 February 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 on it’s advisory board. 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/