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ZoomAway Travel skyrockets as it picks Ethereum for its blockchain tech journey

Ethereum's developer tools will allow the company to "fully integrate the advantages" of blockchain..

Ethereum
Ethereum's virtual machine and open-source developer tools will allow the company to "fully integrate the advantages" of blockchain to its current systems, it said.

ZoomAway Travel Inc (CVE:ZMA), the hospitality focused tech group, told investors it will use the Ethereum software platform to integrate blockchain into its operations.

Ethereum's virtual machine and open-source developer tools will allow the company to "fully integrate the advantages" of blockchain to its current systems, it said.

These tools, notably the smart contract one (which will reduce overheads), will provide both its main subsidiary Zoomaway Nevada and Travel Game Block Chain (Canadian subsidiary) with a shared backend running on the same services, it told investors.

"The hospitality industry is changing very quickly, the onset of blockchain and cryptocurrency projects like LockChain and Winding Tree are signalling huge changes in the way third parties are going to operate in the future," said Sean Schaeffer, chief executive of Zoomaway Travel.

"We are watching the space very carefully and there is a very good chance that third parties, mainly the large OTA's are going to be greatly affected by the success of companies like these.

"The middle man is in great jeopardy as these companies are promising no mark-ups in a direct channel between the hotel or property owner and the consumer.

"Our bundling software and activity knowledge will help us work with companies like these that are focusing just on room only services."

Shares of ZoomAway Travel in Toronto surged over 58% to C$0.095.

Quick facts: ZoomAway Travel Inc

Price: 0.065 CAD

TSX-V:ZMA
Market: TSX-V
Market Cap: $4.02 m
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