Assessment of blockchain applications in travel and tourism industry

Özdemir, Ali; Ar, İlker Murat; Erol, İsmail

doi:10.1007/s11135-019-00901-w

Cited by 101 publications

(48 citation statements)

References 35 publications

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“…Due to the topicality of this subject, I refrain from mentioning individual applications or specific decentralized applications (Dapps) but encourage other authors to systematically analyze and compare them. Existing work in this area includes the studies from Nam et al (2019) and Ozdemir et al (2019).…”

Section: The Impact Of the Blockchain On Tourismmentioning

confidence: 99%

“…Two academic publications have so far described Dapps according to various criteria. (Ozdemir et al 2019) present an indepth assessment of four Dapps using the following evaluation criteria: governance, platform, consensus mechanism, use of cryptocurrency, smart contracts, and tokens. Nam et al (2019) briefly describe and compare 13 Dapps and predict for the future of the tourism industry a reduction of costs, an increasing adoption of cryptocurrencies, and the development of all-encompassing ecosystems.…”

Section: Dapps For Smart Tourismmentioning

confidence: 99%

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Blockchain and Tourism

Treiblmaier

2020

Handbook of E-Tourism

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Blockchain technology has the potential to substantially transform the tourism industry. Its salient features such as immutability, transparency, programmability, and decentralization allow for innovative ways to design customer relationships, enable novel organizational structures and processes, and facilitate new forms of interorganizational collaboration. In this chapter, I first elaborate on the basic functioning of the blockchain and highlight those characteristics which are crucial for understanding the rest of the chapter. I not only equip scholars and practitioners with the knowledge needed to better comprehend blockchain technology and how to apply it in the context of the tourism industry but also highlight shortcomings and important research topics. Furthermore, I investigate the disruptive potential of the blockchain on an economic level by discussing various ways in which it can alter existing market structures und potentially

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Section: The Impact Of the Blockchain On Tourismmentioning

confidence: 99%

Section: Dapps For Smart Tourismmentioning

confidence: 99%

Blockchain and Tourism

Treiblmaier

2020

Handbook of E-Tourism

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“…The use of blockchain technology in tourism can result in cost reduction connected with currency exchange rates and it has huge potential for simplifying frequent traveler loyalty programs [14]. Researchers and practitioners are looking for approaches as to how to adjust these changes in the tourism sector, bearing in mind that the traveler experience is one of the most important topics [15].…”

Section: Introductionmentioning

confidence: 99%

Blockchain in the Tourism Industry—A Review of the Situation in Croatia and Macedonia

2020

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As one of the most interactive economic activities, tourism has improved significantly since the Internet allowed customers (travelers) to look for and create their trips without the need to go to a travel agency. Through the development of Internet marketing, tourists are able to receive information in real-time and view them on the screens of their devices (computers, laptops, mobile phones or tablets), and consequently they can create their own content and share it with others. Due to this development, we are witnessing a new phenomenon, so-called app capitalism, in which companies like Uber and Airbnb make money on services and goods they do not own and finding new business models in the tourism sector which enable customer-to-customer models. To be able to respond to these changes, the tourism industry needs to bring together knowledge, money, and technology for the purpose of creating new business models. The development of technology in all social spheres, including tourism, has provided a strong tool for consumers in terms of both acquiring and disclosing information to others. One of the rapidly growing technologies which is also one of the cutting-edge technologies entering tourism is blockchain. Blockchain technology captured worldwide attention in 2017 and its implementation has been revolutionizing various industries (e.g., retail, healthcare, tourism). The aim of this paper is to analyze the potential of the tourism industry in terms of blockchain implementation. Blockchain technology provides significant benefits to the tourism industry since its implementation can help increase competitive advantage, improve customer satisfaction and enhance performance. In this paper, the authors present the current situation in the Republic of Croatia and the Republic of Macedonia regarding the use of blockchain technology in the tourism industry. The main findings of this paper comprise the detection of key areas regarding why blockchain technology is not implemented in the tourist industry, and what processes should be handled. By presenting a case study of the implementation of blockchain technology in tourism, the authors analyze the potential of using blockchain technology in the tourism industry and discuss topics for further research.

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“…But it does not offer the contract function if the product needs a period of time to grow or manufacture. For travel or hotel reservation systems [7][8][9], tourists sometimes reserve the cheapest but nonrefundable program. But if they really cannot attend the program for some reason, the current reservation systems do not offer the ownership transfer and reselling mechanism.…”

Section: The Beimp Provides Contract Specification (Cspec) Andmentioning

confidence: 99%

Blockchain-Enabled Integrated Market Platform for Contract Production

2020

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Contract production and transaction are very common and important since it can greatly reduce future uncertainty and is well-organized by buyers, sellers, and trusted third parties (TTPs). However, current commodity trading systems (such as spot, futures, and forward contract) are still traditional centralized structures, which means that there may always be concerned about the single point of failure and data corruption. Besides, even though there already exists fragmentary decentralized applications (DApps) for the marketplace, order management, resale, delivery, financing, and insurance, they are not integrated for operating contract production and transaction comprehensively. In this work, a blockchain-enabled integrated marketing platform (BeIMP) is proposed for contract production and transactions. BeIMP is a consortium blockchain (CsBc) framework that enables better safety, efficiency, and interoperability among stakeholders. BeIMP can directly match producers and consumers and reduce the problem of intermediaries' improper market operation. BeIMP has a three-tier risk diversification mechanism. First, both parties can know the quantity and price according to the contract specification (CSpec) in advance to avoid future uncertainty. Second, the buyers can resell the established order if they need, thereby diversifying the risk. Third, the concept of insurance is introduced to reduce force majeure and other systemic risks. BeIMP can also help producers get the loan from the financial institution (FI) if they need fund for production. We implement and demonstrate the prototype in contract farming (CF) first and discuss its generalizability to other scenarios. Experiment results show that the smart contract (SC) function is stable enough and the proof of authority (PoA) has the advantage in throughput and can give users a better experience.

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Assessment of blockchain applications in travel and tourism industry

Cited by 101 publications

References 35 publications

Blockchain and Tourism

Blockchain and Tourism

Blockchain in the Tourism Industry—A Review of the Situation in Croatia and Macedonia

Blockchain-Enabled Integrated Market Platform for Contract Production

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