Bali Social Integrated — Bringing a Blockchain revolution to Bali Tourism

The tourism industry has seen an influx of traffic in the last few years, with international travel becoming mainstream and easily accessible. The tourism industry had grown considerably before the world was affected by the COVID-19 pandemic that hindered its growth significantly. Regardless, the global tourism industry’s contribution to GDP was around 2.9 Trillion USD in 2019, which is bound to increase in the future.

However, while one of the most grossing industries, the tourism industry is riddled with inefficiencies, with the major one being the involvement of intermediaries. Luckily, blockchain has already made its name in removing intermediaries in several industries by connecting different parties directly.

Bali Social Integrated has developed a blockchain platform that directly connects global travelers to service providers such as hotels, restaurants, travel accommodations, etc. Bali Social Integrates is bringing blockchain to Bali and initiating a necessary revolution.

Bali Social Integrated — Tourism on Blockchain

Bali Social Integrated set out as a medium to remove intermediaries by connecting global travelers with service providers. However, it grew to become much more than that and has created a business line Viaje with a growing network of affiliated stores. The platform also has a BSI Token that will be used as the primary mode of transactions within the ecosystem.

BSI token is a cryptocurrency that is used for paying globally, eliminating the pesky task of converting fiat and the high conversion charges. Users can deposit BSI token into ViajePay with zero transaction charges or use their fiat with a 0.5% to 1% conversion fee and use it freely on all affiliated stores.

However, despite all these advantages, the biggest selling point of Bali Social Integrated is its introduction of blockchain technology in the tourism industry of Bali. Blockchain is inherently secure and immutable, with an ability to optimize and fasten various processes. Here are a few advantages that Bali Social Integrated will introduce in the tourism industry.

Remove Transactional and Operational Costs

Global tourism introduces the challenge of converting fiat into the native currency that can charge up to 1% transfer fees. Travelers opt for paying with international credit cards; however, the credit card company can charge higher than 1% on every transaction. While these payment methods have become the norm, blockchain can provide a better alternative.

For instance, converting fiat to BSI tokens does not involve a transaction fee, and depositing the tokens to the ViajePay will allow the users to shop and spend freely without any unnecessary charges.

Improve Customer Experience

Blockchain technology can integrate different aspects of tourism in a single place and improve the customer experience considerably. Blockchain can combine payment gateways, traveling, booking, verification, renting vehicles, etc., in a single place and reduce the overhead costs.

Bali Social Integrated offers the ability for travelers to book their hotels, accommodations, rental cars, and other utilities in a single place.

Transparent Business Ratings

Online travel agencies often con travelers in the lure of fake promises. What travelers see online while booking their hotels can be deceptive or untrue. Also, checking reviews beforehand might not work as crooked business people can put up false reviews. However, blockchain is immutable and trustless that ensures security and transparency in every step of planning a vacation.

Removing Intermediaries

Intermediaries often charge hefty brokerage from travelers and service providers. Using intermediaries can increase the total costs by 20%, which is not a viable option. However, a lack of opportunities has forced users to conform to these subpar standards. Luckily blockchain can quickly remedy the problem, and Bali Social Integrated is a great example.

Blockchain technology has optimized several global industries, and Bali Social Integrated is leading the charge of bringing the technology into the tourism industry.

About Bali Social Integrated

Bali Social Integrated is a truly unique and revolutionary platform that optimizes the tourism industry with the help of blockchain technology. While tourism and blockchain have been amalgamated in the past as well, there hasn’t been any promising project until Bali Social Integrated. It is a disruptive platform that is giving the tourism industry a much-required makeover. For more information about Bali Social Integrated, visit https://bsin.io/.

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