Blockchain Transformation in the Tourism and Hospitality Sector
Author: Horst Treiblmaier
Release Date: May 17, 2022
Blockchain-based applications in the tourism and hospitality sector are disrupting dominant business models and transforming core business processes, market structures, and customer experiences. Distributed ledger technologies support true peer-to-peer services. Business adopters can increase the efficiency of payments, reservations and ticketing, location tracking, identity management, and information sharing within supply chains. They can also improve customer relationships via decentralized booking systems, loyalty programs, verifiable reviews, and secured devices on the Internet of Things. Start-ups and incumbents alike are innovating in the metaverse as well, delivering tourism-related experiences that leverage non-fungible tokens, digital badges, and augmented and virtual reality.