Select Page

Blockchain Transformation in the Tourism and Hospitality Sector

Research Overview

Author: Horst Treiblmaier
Release Date: May 17, 2022

Abstract:

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.

 

Copyright 2022 Blockchain Research Institute – not for distribution

Fullscreen Mode

 

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Tourism and Hospitality Infographic

Related Content

Web 3 and the Music Industry

In this project, our research lead reviews what we learned from the music industry’s first wave of blockchain innovation and explores the opportunities in its second wave, including innovations such as non-fungible tokens and metaverse experiences. He looks at the barriers to realizing these opportunities, including risks such as the legal grey area around who holds the intellectual property rights to minting music-related NFTs. He includes excerpts of his in-depth interviews of Scott Cohen, former chief innovation officer, Warner Music Group; Sophie Goossens, partner, Reed Smith; Vaughn McKenzie-Landell, CEO and co-founder of JAAK; and Christof Straub, CEO and founder, Global Rockstar.

Read More

What Is Web 3?

Web 3 is a set of technologies that combine into new classes of digital services. Web 1 refers to the read-only Internet (1980s–early 2000s) where most users consumed content like encyclopedia entries, directories, and catalogs. Web 2 refers to the read-write Internet (early 2000s–2020) with many killer apps like Google search and Facebook for finding, collaborating, and transacting with each other online. Web 3 is the read-write-own Internet (2020–today), based on blockchain protocols that support online privacy, self-sovereign identity, and property rights to digital assets.

Read More
Subscribe