Winding Tree: Lif Token (LIF)
Winding Tree, founded in 2017, is a decentralized and open-source travel industry distribution platform which will enable users to have direct inventory access from the supplier. Winding Tree will connect buyers and sellers through smart contracts without any transaction fees, and with high speed. Initially, Winding Tree will be implemented on the Ethereum blockchain, with plans to deploy on other blockchains in the future to ensure 100% uptime. The Líf token (pronounced “leaf”), which is ERC20 compatible, will facilitate transactions on the platform with its added functionality. In addition to basic ERC20 functions, Líf tokens will be able to send data, value, and execute functions on transfers. During Winding Tree's ICO over 16,000 ETH was raised.
Winding Tree has partnered up with several large, international organizations, which are listed below:
– Air New Zealand
– Brussels Airlines
– Nordic Choice Hotels
Air New Zealand has partnered with Winding Tree to utilize the blockchain technology which will help improve the airline's efficiency and security of booking and baggage tracking. Other beneficial uses the airline is exploring includes retail for airfares and ancillary products, loyalty programme opportunities, and distribution. Avi Golan, Air New Zealand's Chief Digital Officer, believes Winding Tree will make the sales process more simple, allowing for secure and fast information sharing, and reduced transaction costs which will ultimately benefit the customer.
Winding Tree will use non-fungible tokens (NFT) so that each token can have a different price and different appreciation; similar to an airline having different prices for tickets based on factors such as seat selection, date or flight, political events, etc. A non-fungible token can be traded for a Líf Token by anyone in the platform. The standards supported for NFT include ERC721 and ERC821 allowing for tokens and assets with lots of metadata.
Winding Tree created an extension of ERC20 tokens which were too limited in use for this platform type. ERC827 contains an additional 30 lines of code which allows the transfer of value, data, and provides the ability to perform more intricate functions. With ERC827 they can also build more complex apps and increase the utility of the Líf token.
Smart contracts are written in solidarity language and deployed on the Ethereum blockchain. Index contracts will be used to list hotels and airlines on the platform. Hotels will be indexed by geographical location, country, city, and name, and airlines by name and flight path. AsyncCall contracts will allow pending transactions on smart contracts with encrypted data to be stored.
In Q1 2018, Winding Tree are focussing on integrating with various hotel providers and developing standards for open source data exchange for those hotels. There will be a Testnet launch and integration of Multisig into the Líf Token wallet. During Q2, the team will focus on airlines by developing open source data exchange standards, the alpha version of smart contracts, and a Líf Token wallet for airlines. For Q3 and Q4 2018, they will work on more contracts and be implementing a search engine.
For 2019, the primary focus for the Winding Tree team is to expand into other travel sectors such as tours, activities, and car rentals. To be able to handle the substantial volume of transactions necessary in the travel industry, Winding Tree will develop a state channel to allow for scalability.
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