Initial Coin Offerings have evolved into one of the most powerful means to gain money for the project. The ones held a successful ICO raise millions of dollars, make partnerships and gain popularity.
Now, the airline giant Lufthansa joins the blockchain path and even invests in the ICO.
Thus, the Lufthansa Group is working closely with the Switzerland-based startup Winding Tree, that has dedicated itself to the reorganization of travel distribution and built on the Ethereum blockchain. The company believes, that, in the future, airlines, hotels and other travel service providers will offer their services on Winding Tree's platform, and companies interested in content will only connect to the B2B blockchain-distributed digital marketplace to present specific offers tailored to their customers' needs. This will result in a large number of new apps for travelers, who will then be able to book Lufthansa Group flights via the offer that best suits their preferences.
In order to finance the initial development and facilitate acceptance by suppliers, Winding Tree is launching a token sale of its cryptocurrency "Líf" on the 1st of November. To reinforce its confidence in the new technology, Lufthansa Group is participating in the presale after regulatory clearance from Swiss authorities.
Senior Vice President Distribution & Revenue Management Lufthansa Group Airlines
On top of that, as part of the partnership, Lufthansa will also be investing in Winding Tree as part of its forthcoming sale of a token called LIF, which is to be used for settlement and data transfer.