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In some cases, travel loyalty program points differ by journey component (flight, car rental, hotel, dining), leading to fragmented point collections. First, blockchain could help relieve a large balance-sheet liability that many in the industry are facing. Blockchain-based loyalty platforms could be another such disruption.
These so-called “stranded assets,” sitting on petro-company balancesheets, are essentially worthless. In other words, does it really make sense for a hospitality or real estate company to build a new hotel, apartment, or office complex right on the coast in Miami? And thus those companies are massively overvalued.
As an example, hotel chains like Marriott or Hilton create value chains that deliver rooms and related services to their customers. For most companies intellectual property is something that sits on their balancesheet. In contrast, Airbnb creates a network that connects hosts and guests. Intellectual capital.
Had I suggested in 2007 that the Fed balancesheet expansion of $75 billion a month would have been considered "tightening" people would have thought I was nuts. The conference hotel is a fun place in and of itself. At long last, the Fed has finally started to taper. Here we are. Stay an extra day and golf or travel.
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