Implications of Blockchain Technology- Based Cryptocurrency in the cloud for the Hospitality Industry

Abstract

In various industries, blockchain technology and cryptocurrencies have gained significant importance. This study delves into the crucial role played by blockchain-based cryptocurrencies within the hospitality sector. The significance of this research lies in its aim to address inefficiencies, boost security, and adapt to the evolving landscape within the hospitality industry. The industry's heavy reliance on centralization poses challenges, including steep transaction costs, vulnerabilities in data security, and a lack of transparency. Blockchain technology and cryptocurrencies offer solutions to simplify processes, safeguard data, and enable secure, cost-efficient transactions. This paper highlights the increasing importance of blockchain-based solutions in hospitality, underscoring industry stakeholders' need to embrace these innovations. Through an analysis of implications, advantages, and obstacles, this study adds depth to our comprehension of how blockchain-based cryptocurrencies can enhance the hospitality sector's efficiency, security, and competitiveness.