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Lufthansa partners with Zug-based blockchain startup

Lufthansa is entering a partnership with the Zug-based startup Winding Tree, which has developed a blockchain marketplace for travel content. Via an initial coin offering, the airline will invest in developing the technology further.

Lufthansa
Image Credit: Lufthansa

Winding Tree has created a decentralized B2B marketplace system to facilitate blockchain-based travel bookings. If a travel company or a startup wants to gain access to flight ticket offerings, it will no longer need to deal with the intermediaries that dominate the market.

Thanks to the new system, airlines or hotels will be able to offer their services directly on the Winding Tree platform. Companies need only connect with the digital marketplace to showcase specific offers for their customers. The result could be numerous new travel apps and cheaper tickets.

Now, Winding Tree has secured the German airline Lufthansa as a supporter of its technology. The companies are to partner to develop the technology further, according to a statement.

Winding Tree will test its system with Lufthansa and Lufthansa will integrate its APIs into the Winding Tree platform, thus granting innovative travel startups access to its offers.

According to Lufthansa, the technology will prevent “a brake pad for the innovative further development of the distribution of travel offers”.

To finance the initial development of the technology, Winding Tree is launching a token sale of its cryptocurrency Líf on November 1. Lufthansa will be participating. 

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