Applied Aspects of Blockchain Technology in Travel and Tourism Industry

Abstract

Blockchain technology is in the early stage of its development, but there’s consensus about its potential. The technology is at an inflection point, with momentum shifting from “blockchain tourism” and exploration to the building of practical business applications. Tourism industry and blockchain have the possibility to become a powerful combination as the technology can bring safety and transparency of transactions. This article aims to examine the features of blockchain as an innovative technology and to present its more important advantages and applied aspects in the field of tourism. There are a growing number of emerging disruptors across travel industry, challenging traditional business models with the use of blockchain. Given some of the blockchain technology’s characteristics and possibilities, this article is pointed towards important applications within the tourism.