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Bitcoin Daily: Digital Wallet Bakkt Wyndham Team On Travel Rewards; Binance-Backed Travel Site Travala Debuts Dtravel On Blockchain

Bitcoin Daily: Digital Wallet Bakkt, Wyndham Team On Travel Rewards; Binance-Backed Travel Site Travala Debuts Dtravel On Blockchain

June 17, 2021 at 02:12AM
by PYMNTS

Bakkt Holdings, a digital asset marketplace known for its Bakkt app, will be working with Wyndham Hotels & Resorts’ loyalty program, Wyndham Rewards, in order to let users redeem resort points within the Bakkt app, according to a press release.

The Bakkt platform allows users to convert loyalty currencies into cash, bitcoin or discounted gift cards, the release stated. Bakkt users can also pay with points directly with merchants.

The Wyndham integration is likely to be complete later this year, according to the release.

In other news, Travala.com, backed by Binance, is rolling out Dtravel, which is a decentralized vacation rental service, CoinDesk reported.

The service is intended to give “homeowners a stake in the platform,” according to CoinDesk. With Dtravel, guests have the option to share joint ownerships with homeowners.

Dtravel is community owned through the Dtravel DAO (decentralized autonomous organization), in which peer-to-peer (P2P) communication and voting are important, CoinDesk, reported. Hosts and guests are able to vote on the issues, including last-minute cancellations and the ways in which community treasuries are spent.

Travala CEO Juan Otero said the return to travel post-pandemic could allow Dtravel and similar platforms to have more of a reach as booking companies face new challenges, according to CoinDesk.

The company might do better with more innovations in blockchain, Otero said in the report. It has plans to incentivize crypto use by allowing the first 100,000 hosts to list their homes on the service to earn over $35 million in TRVL coins collectively.