OwlTing (奧丁丁) has created the world’s first decentralized room booking service, and it is in talks with hotels and bed-and-breakfast operators in Taiwan to join the program, the Taipei-based blockchain technology developer said yesterday.
Dubbed OwlNest, the “software as a service” product is built on the automated smart contract capabilities of the Ethereum blockchain and could provide a lower cost alternative to the room inventory and booking systems now used by hotels, as well as helping them save on the personnel and maintenance costs involved in running their own Web sites, company officials told a news conference in Taipei.
Many hotels’ booking and inventory management systems are no longer compatible with the platforms employed by popular Web sites, which means that the hotels have to cover the costs of making manual entries on room availability and prices on those sites, OwlTing chief executive Darren Wang (王俊凱) said.
OwlNest is compatible with a wide variety of booking platforms and it automates much of the room listing process, Wang said.
It uses smart contracts to create customized packages, including discounts for customers who want to use their loyalty program reward points or make early-bird reservations, It accepts a variety of mobile and cashless payment methods.
The service also lists activities such as guided city tours and hiking trips, which he hopes would provide travelers with memorable experiences, Wang said.
He said OwnTing expects to have more than 30,000 lodging establishments listed before the end of next year, and is also in talks with operators in Japan, Malaysia and the US.
OwnTing also developed a blockchain-based tracing system, dubbed OwlChain, which provides customers with detailed information on the products they eat, including ingredient sources, manufacturing processes and transportation flow.
The company also operates OwlTing Market, an e-commerce platform selling fresh produce and food products.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
PRESSURE EXPECTED: The appreciation of the NT dollar reflected expectations that Washington would press Taiwan to boost its currency against the US dollar, dealers said Taiwan’s export-oriented semiconductor and auto part manufacturers are expecting their margins to be affected by large foreign exchange losses as the New Taiwan dollar continued to appreciate sharply against the US dollar yesterday. Among major semiconductor manufacturers, ASE Technology Holding Co (日月光), the world’s largest integrated circuit (IC) packaging and testing services provider, said that whenever the NT dollar rises NT$1 against the greenback, its gross margin is cut by about 1.5 percent. The NT dollar traded as strong as NT$29.59 per US dollar before trimming gains to close NT$0.919, or 2.96 percent, higher at NT$30.145 yesterday in Taipei trading
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