Blockchain Technology in Hospitality

Abstract

Blockchain technology is poised to revolutionize the tourism industry by leveraging its core features—immutability, transparency, programmability, and decentralization. This research ferrets into how blockchain can reshape customer relationships, organizational structures, and interorganizational collaborations in tourism. It provides a comprehensive understanding of anticipated future of the tourism industry with blockchain integration. Economic theory suggests that blockchain can shift the balance of power in the tourism industry. By reducing the need for intermediaries and enabling direct interactions, blockchain can empower both service providers and customers, potentially leading to more competitive and customer-centric market dynamics. Blockchain technology has the potential to substantially transform the tourism industry by enhancing transparency, efficiency, and collaboration. By understanding its fundamental characteristics and potential in the tourism industry can better prepare for and leverage blockchain to create innovative solutions and gain a competitive edge.