Lufthansa Group is partnering with a blockchain ICO Startup

The Europe’s largest airlines, Lufthansa Group is on partnership with a blockchain travel platform. As a part of a bid to explore possible applications of the technology.

However, it was announced today, Lufthansa group has made a deal with Swiss startup Winding Tree. Since, a decentralized B-B marketplace built on the Ethereum blockchain.

Maksim Izmaylov, Winding Tree CEO, says the startup will assist Lufthansa in building and testing decentralized, blockchain-based travel apps which hold the requirements of airlines. Meanwhile, Lufthansa will integrate its APIs with the Winding Tree platform.

Lufthansa Innovation Hub’s senior venture development manager, Reinhard Lanegger, told specifically that, Lufthansa is interested in exploring use cases that would put booking, rebooking and traveler itinerary information on a blockchain.

Lanegger said:

“We want to provide [Winding Tree] expertise.”

Token Investment

Further, this Lufthansa partnership goes into the trendy world of Initial Coin Offerings (ICOs). However, the term denoting how startups are now leveraging custom cryptocurrencies as a way to fund startup development.

Partially, the Lufthansa partnership will be also investing in Winding Tree as part of its forthcoming sale of a token called LIF. Even though the airline did not reveal how much it will be investing but initially token will use to fund the development of Winding Tree’s platform.

Pedro Anderson, co-founder of Winding Tree says,

“LIF uses for settlement and data transfer. Anyone owning LIF tokens will be able to book hotels, flights and cruises … directly on the blockchain”.

Moreover, Lufthansa is not new to the technology still signaled interest in the blockchain space. Earlier 2014, when it partnered with Bitcoin payment processor Bitnet. However, it is the only airline currently public with its interest in utilizing the platform.

Lanegger said,

“It is something that people will talk about: We as a group have always been a frontrunner when it comes to technology”.