Blockskye, a company working on blockchain technology for travel, has announced the successful completion of a funding round, raising $15.8 million. This event marks a pivotal moment in the development of blockchain solutions for the travel industry.
Understanding Blockskye and Its Significance
Blockskye is building blockchain infrastructure to simplify and reduce costs in travel processes. By utilizing a distributed ledger, the company aims to address the drawbacks of existing booking systems, such as high costs and lack of transparency.
Successful Series C Funding Round
Recently, Blockskye completed a Series C funding round, raising $15.8 million. This round was led by Blockchange and included participation from United Airlines Ventures, indicating strong interest and confidence in Blockskye's technology from both crypto investors and traditional players in the travel industry.
Prospects and Challenges of Crypto Payments
Blockskye plans to introduce stablecoin-based payment products, which could revolutionize payment methods in travel. However, the company also faces challenges such as the need for regulatory clarity and integration with existing systems.
Blockskye's $15.8 million funding round confirms the potential of blockchain to transform the travel industry. The company’s focus on crypto payments and collaboration with major market players sets the stage for a new era in managing corporate travel.
