University of South Florida (USF) M3 Publishing
Abstract
OVERVIEW
This chapter will provide information on what Blockchain is and why it is used. It describes the basic concepts underlying Blockchain technology, such as distributed ledgers (DLs), consensus mechanisms, mining, smart contracts, peer-to-peer (P2P), and the classification of existing Blockchain systems. Next, it explores Blockchain applications in general, in businesses and society. Blockchain maybe used e.g., for fundraising, in education, and for provenance and authenticity registration. The last part of the chapter is devoted to application of Blockchain in general to applications in the hospitality and tourism industry. It considers how Blockchain makes it possible to create new types of platforms where transactions take place and the delivery of digital assets, such as a hotel room booking, is not dependent on an intermediary. Other topics covered are tokenization, and the use of Blockchain in tracking baggage, loyalty programs, rating and reviews, payments, and digital identity.
LEARNING OBJECTIVES
After completing this chapter, the student will be able to:
- Understand what the Blockchain is and why it is used.
- Understand the basic concepts underlying Blockchain technology.
- Determine differences between Blockchain systems.
- Describe the main features of Blockchain technology.
- Compare and contrast advantages and disadvantages of the existing Blockchain systems.
- Gain insight into the implementation of Blockchain in business.
- Gain insight into Blockchain applications in the hospitality and tourism industry.
DOI
https://www.doi.org/10.5038/9781732127593
Recommended Citation
Barkel, C., Kurgun, H., & Groen, B. (2021). Blockchain in the hospitality and tourism industry. In C. Cobanoglu, S. Dogan, K. Berezina, & G. Collins (Eds.), Hospitality & tourism information technology (pp. 1–28). USF M3 Publishing. https://www.doi.org/10.5038/9781732127593.org/10.5038/9781732127593
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License
