Bookings Holdings and Bookings.com CEO, Glenn Fogel, believes information security and global payment systems are the key to unlock travel and reduce over-tourism. In an interview with Skift, Fogel highlighted his new role as CEO on Bookings.com, the challenges facing the travel industry and how blockchain can be useful in enhancing information security and peer to peer secure payment systems across the globe.
As part of the Libra Association, Bookings Holdings is focusing on a seamless global payment system to solve the complicated travel industry challenges such as over-tourism and information security. Data security is the main ingredient to successful travels according to Fogel. He said,
“The most advanced payment technologies and solutions can be built, but if the public is not convinced that their information is safe and protected, we’re just pedaling backwards.”
Fogel further predicts a possible creation of a global currency to be used across industries similar to Bitcoin’s access across the world.
“I also do see the potential for a new form of global currency that is protected and secure. […] I do believe currencies with a blockchain base will continue to surface and may become more widely accepted across the globe.”
‘Over-tourism is not private companies’ job’
Replying to a question on the overpopulation of popular destinations during peak times, Fogel stated that private companies were not in charge of the challenge. While he believes over-tourism is an issue affecting the travel industry, private companies should not dwell on telling people where to visit but he believes it is their job to “ensure that travelers have the most options to choose where they want to go.”
Fogel further claimed it is the government and city officials’ duty to control over population. He said,
“It’s up to the city officials and governments to determine the right steps/rules/legislation to benefit their city. And then we will comply with any of those rules or laws that are set.”