Blockchain Tourism: Evolution of the Tourism Industry

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    The continuous development of new technologies has brought many new possibilities to tourism. Blockchain technology may disrupt the way we manage information and data. This will not only happen in the financial services industry, but the tourism industry will also be gradually affected. At this stage, blockchain tourism has been given the "change" of the aura, through the blockchain technology to achieve a new round of tourism development has become a topic of concern in the industry. Currently, the “transformational” application developments that blockchain tourism has achieved in the tourism industry include:

    1. No mediation
      Current OTA platforms, such as Priceline and Ctrip, have a long chain of travel industries and involve many intermediate links in the transaction process. In order to maintain their own development, the platform will in turn charge high commissions to service providers stationed on the platform, resulting in increased operating costs.
      The British social platform Cool Cousin is supported by a new cryptocurrency called CUZ through the establishment of a globally dispersed ecosystem of locals and travelers to enable the uninterrupted exchange of personalized information and personalized services. The travel agency laid the foundation. Domestic Tripio uses decentralized blockchain technology and uses TRIO Token to make accommodation bookings based on Tripio smart contracts, skipping platform spreads, and directly connecting users and businesses. Service providers do not have to pay any commissions, lower operating costs, and enable users to get better service at a lower price.
    2. Digital identity, points, reservation management
      After years of development, the traditional tourism platform (OTA) has been monopolized by the four major groups. Because a large number of monopoly problems include information disclosure, integration restrictions, and cumbersome bookings, blockchain technology can effectively resolve these issues.
      Airbnb uses blockchain technology to verify the reputation and identity information of landlords and users. On the Airbnb platform, reputation is extremely important. The user's reputation can only be rented to a specific type of house if it reaches a certain level. In Estonia, blockchain technology has been used to develop electronic identity projects that encrypt security holes. It is reported that allowing non-Estonia residents to apply for an e-citizen in the country can enable these residents to enjoy a range of services provided by the country. Even non-Estonians can obtain an electronic resident identity card. The
      Le Erou online travel platform is an online comprehensive travel and service platform that applies blockchain technology, including hotel reservations, ticket reservations, scenic spot inquiries, resource sharing, and social sharing. The core functions of the five major travel and travel services and insurance, finance and other travel services Peripheral services. The platform uses points for consumption. Point holders of the same institution can directly perform point transfer and giveaway. Point holders of different institutions can exchange points between points in the point mall or exchange them for circulation on the platform. , expanding the scope of distribution of points.
      Russian airline S7 used Ethereum blockchain technology to collaborate with Alpha Bank to launch a service to sell tickets on the blockchain, an initiative that has accelerated the booking and payment process.
    3. Resources, social sharing
      Because of the monopoly, the tourism industry has not been able to achieve the sharing and optimization of resources. The peer-to-peer network technology based on blockchain and smart contracts enables each individual user or organization to participate in the construction of the shared ecosystem.
      The six core areas of LeGuo online travel platform include resource sharing and social sharing. The platform is expected to fully implement socializing and sharing these two major travel services in 2019, using blockchain technology to develop more applications and products based on smart contracts and smart hardware. Hyatt Travel Chain is a blockchain-based decentralized travel community review platform where consumers can receive token rewards through real reviews, and all reviews, ratings, ratings data cannot be tampered with, destroyed, and traceable. The roles must be responsible for their own actions, which ensures that the tourism platform shares the authenticity of the resources.
      Blockchain technology has fundamentally opened up the difficulties of the tourism market and promoted change. Blockchain is no longer just a concept term, but it is slowly landing for the public to provide more convenient and advanced services. In the future our lives will be inseparable from the blockchain technology.

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