No Transaction Fees
We believe that commission fees are a business model of the past. We do not plan taking any transaction fees apart from the fees that are needed to incentivize miners to give computational power to the network. These fees will be automatically calculated by the blockchain at the time of transaction.
I want to know the details of this
By transaction fees we mean the distribution fees hotels and airlines currently pay to intermediaries. Typical fees for a hotel booking made through an OTA range from 10% (for large branded hotels) up to 25% (for individual hotels) of the total booking amount. The Winding Tree blockchain will be a decentralized entity so it can't and won't take any fees from travel suppliers. The only fee liable during a booking is the gas needed to execute the contract and register the booking on the blockchain.
As Winding Tree is primarily a B2B blockchain, the businesses selling the rooms to the customer can have incentives to do so both for profit as well as not for profit:
Case 1 - Not for profit:
An event organizer has a deal with the hotel it is organizing the event at and resells the hotels inventory directly on its own website.
Case 2 - Booking Fee:
Winding Tree being decentralized will offer equal distribution to all inventory, companies may take their time to offer customers a curated selection of hotels and flights and maybe even bundle these together with other services and charge the customer a booking fee for it.
Case 3 - Smart Commission:
Hotels and Airlines can set a smart commission which will be given to businesses who sell inventory for the hotel. A default smart commission is available for anyone to resell, suppliers will also be able to set custom commissions for specific vendors.
Case 4 - Open Source Travel Agent:
Similarly to OpenBazaar and Duo Search - search engines for travel inventory can be built.
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I hope that answers your question.
