A Welcome Sign for Blockchain
An historic player in POS, Posera, has called upon DLT Labs, Inc. to further the use of blockchain in the hospitality industry. As many readers know, blockchain is an electronic ledger, encrypted, which creates an unchangeable time-stamped record of transactions. Use of such “blocks” allows secure transmission and synchronization of mass amounts of data. In hospitality, according to the two parties, this will facilitate real-time payments and inventory management.
“As leaders become increasingly aware of the economic and strategic benefits derived from real-time enterprise solutions, there is an industry shift to blockchain-centric systems on the horizon,” observed Akash Sahai, EVP of Strategy and Business Development at Posera. “The potential cost benefits in payment processing are enormous, and we believe the competitive and real-time nature of the hospitality industry will help drive adoption. We are delighted to partner with DLT Labs, an innovator in blockchain.”
“DLT Labs recognizes both the technical strength and domain expertise at Posera, which will help us both accelerate this innovation,” related Neeraj Srivastava, Founder and CTO at DLT Labs. As another benefit, the partnership with DLT Labs will allow Posera’s “SecureTablePay” to accept so-called crypto-currencies such as bitcoin. Posera, of course, is best known in the channel for its Maitre’D Software. Both Posera and DLT Labs are headquartered in Toronto, ON, Canada. [Editor’s Note: As “distributed ledger technology,” another name for blockchain, there’s Enterprise Ethereum, IBM’s Fabric, R3’s Corda, JP Morgan’s Quorum, and, as of October, Oracle Blockchain Clo