BLOCKCHAIN IN HOSPITALITY AND TOURISM INDUSTRY WAY FORWARD

Abstract

The paper discusses the scope and impact of blockchain technology-BCT adoption in travel and tourism. Based on a review of literature and the few adoptions of Block chain technology in hospitality and tourism the paper reflects that BCT truly captures benefits and enhances the effectiveness of this technology and growth potential of hospitality and tourism industry. Starting with fundamental understanding of blockchain framework and systematic structure, functioning and scope of a blockchain system the paper discusses the critical factors, potential drivers and challenges of its adoption in the hospitality and tourism industry. The paper highlights the scope and use of blockchain in tourism and hospitality industry. In the post Covid time there exist big dilemmas in tourism and hospitality industry dealing with the disruption in its value chain which requires blockchain technology to smoothen its value network. Further, more empirical work is required in this regard to strengthen the hospitality and tourism industry. The paper suggests research gaps and directions for possible future studies that facilitate strengthening, sustainability and feasibility of supply chain in hospitality and tourism industry. Blockchain technology has definite potential to strengthen, sustain the competencies and transform the hospitality and tourism industry. The applicability of blockchain in hospitality and tourism industry embarks up its salient features like transparency, anonymity; integrity, decentralization etc enable more secure end to end customer management systems. An interaction within the supply chain structures facilitates customer movement with tourism and hospitality physical kiosks.