Southeast Asia, heavily reliant on tourism has been hit badly by the pandemic.
In order to revive the prospects of it, Blockchain company ShareRing and Tech giant Tencent come together to create facial recognition to help travelers in Asia with digital identification woes.
Digital identification system emerging as the new need for the tourism industry
The forces of the pandemic have rendered the travel industry besieged with several troubles. But like they say, problems give rise to solutions that are far-reaching and permanent. Tencent Holdings, the Chinese Conglomerate is joining hands with ShareRing to lift up the travel industry by creating a new digital identification system that will streamline travel plans during the pandemic.
The plan is to launch the procreated solution in Southeast Asia which has been hard hit by travel restrictions. ShareRing is planning to incorporate its distributed ledger technology with Tencent’s cloud services to create a blockchain-based digital identity management platform. ShareRing will be using Tencent Cloud’s optical character recognition and facial recognition technology to augment the self-sovereign identity app’ As of now, the application is a one-stop solution to book flights, make hotel reservations, and many other services.
Tencent and ShareRing partnership are critical for Southeast Asian countries because it will be a triumphant trigger to reinstate its borders and open it for tourism. The economic blow to these countries has been massive and this move could be a major catalyst to its reformation.
Anonymous contact tracing passport
ShareRing and Tencent are also working on something called an anonymous contact tracing passport which will integrate and combine e-visas on arrival systems, travel insurances, hotels, retail shops. Both the platforms have expressed their enthusiasm over the good reception the concept has got from government agencies and business leaders in the ASEAN [Association of Southeast Asian Nations] region.
The companies are working with Thailand authorities to bring it to the country to work. Thailand is not stopping from trying out other ways to get tourists back to the country. In October Thailand had rolled out a pilot scheme to grant special tourist visas for travelers after serving a compulsory 14-day quarantine with regular contact.
Embracing Blockchain technology for secure storage of digital identities
Blockchain technology has been seen as one of the major value-providers, especially in digitally-enhanced recognition systems. With Blockchain comes the assurance of secure storage of digital identities enabling fair profile checks, health record collection and seamless travel protocols. Tencent is not new to blockchain product development. The tech giant has also built an interesting concept earlier with a wine traceability platform for one of China’s oldest wine producers. Its commitment to apply the power of blockchain continues with its backing of a blockchain consortium called FISCO BCOS through its WeBank entity. Together they launched a QR health code system used by more than 17 million travelers already!
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.