Home > Online > Blockchain firm OwlTing wants to upend hotel bookings

Blockchain firm OwlTing wants to upend hotel bookings

03/23/2018| 11:43:08 AM|

OwlTing, which has raised $6 million from Kyber Capital and Midana Capital among others, has built a blockchain-based system for 400 clients that eliminates double-booking of hotel rooms.

A Taiwanese startup led by a former Google employee intends to employ the same technology that underpins Bitcoin and Ethereum to shake up travel.

Darren Wang’s OwlTing has rolled out a system to establish the provenance of stuff: hotel bookings.

OwlTing, which has raised USD 6 million from Kyber Capital and Midana Capital among others, has built a blockchain-based system for 400 clients that eliminates double-booking of hotel rooms, by recording real-time inventory as customers book through online services such as Expedia.

Given it’s on track to turn profitable this year on a mere USD 15 million in annual revenue, Wang says he’s aiming to raise as much as USD 500 million via a Nasdaq listing by the second quarter of next year. OwlTing has also invested in fellow Taiwanese startup CoolBitX, which is setting up a digital wallet for virtual currencies and has attracted capital from SBI Holdings Inc.

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TAGS: blockchain | OwlTing | financing
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