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Article . 2021
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Assessing the Role and Use of Blockchain Technology in the Hospitality and Leisure Industry

Authors: Waleed Rashideh;

Assessing the Role and Use of Blockchain Technology in the Hospitality and Leisure Industry

Abstract

Blockchain is an innovative technology, where in the hospitality and leisure industry, travelers can obtain their tourism products and services through an intermediation between travelers and service providers that causes many different problems (e.g. inefficient payment system, extra cost, etc.). The operative effect of blockchain on the hospitality and leisure industry is based on removing the intermediary from the supply chain. Blockchain capabilities are determined according to a number of massive industries, including financial sectors. Such organisations generate various methods in order to simplify trading for smaller and medium sizes of industries. The networks of the tourism value are based on power dependencies’ relationships in such a way many expert staff members have acquired additional values that are taken from their partnerships. The structure of a market can be improved based on the value, which relates to different online travel agencies via converting power from suppliers to consumers. The assessment demonstrates that the blockchain technology represents an effective technology that removes mediators, which are originally sourced from the supply chain. This technology does not allow any mediators to gain entry along towards the tourism industry, and by eliminating the market’s power.

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Keywords

Blockchain technology, business model, trustworthiness, third parties, hospitality business.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
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