Opportunities and Challenges of Blockchain Technology for Tourism Industry in Future Smart Society
B. C. Girish Kumar, Parma Nand, Vikram Bali
Abstract
The tourism is a trending industry in the current era of the economic growth of the country. Tourism can be explained as travelling to a place which is different from your home city or country for numerous reasons. But the tourism industry has been facing problems like Identity theft, Intermediaries, Payment failures, fake reviews, transparency, settlement, overbooking, policy and most importantly safety concerns due to COVID-19 pandemic. To overcome the above drawbacks after referring to some of the research work come up with a solution called Blockchain. Blockchain is a chain of Blocks where each block contains a set of transactions and the blocks are connected using cryptography. Mainly Blockchain and tourism have the potential to show into a really advantageous combination as this technology will offer additional security, Safety, eradication of middleman, data integrity, decentralized business models, immutability, transparency and accurate contact tracing app for Tourism Industry in Future Smart Society. This research gives the clear idea of how blockchain technology helps to overcome difficulties/Challenges in tourism industries. Our future proposed architecture BLOBIM (Blockchain Based Integrated Model) removes the third party intervention, security, safety, trust, transparency etc.