Aruba is a tiny Dutch Caribbean island off the coast of Venezuela which is largely dependent on tourism. But with the travel industry dominated by the companies like Expedia and Priceline - a significant amount of Aruba's tourism revenue gets shipped offshore.
The ATECH Foundation, the organization responsible for fostering the island's technical development, is looking for a way to solve the problem by working with Swiss startup Winding Tree on a blockchain marketplace for travel booking. The ATECH Foundation intends to use Winding Tree's platform, built on ethereum's public blockchain, to connect tourists directly with travel suppliers without all the middlemen.
However, It is not the first blockchain project of Aruba. Now the island is exploring its own digital fiat with cryptocurrency startup Bitt, and Aruba’s Central Bank believes this could boost the island’s GDP.