Blockchain Model

Abstract

Blockchain technology has emerged as a transformative model in tourism and hospitality, offering innovative solutions to challenges in transparency, trust, and efficiency. This chapter examines the theoretical foundations and practical applications of blockchain, emphasizing its alignment with frameworks such as social exchange theory, transaction cost economics, and sustainability principles. Key applications include blockchain-based loyalty programs, supply chain management, decentralized booking platforms, and secure payment systems. This chapter also highlights future opportunities, such as decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and artificial intelligence (AI) integration, showcasing their potential to redefine the industry. Despite challenges such as scalability and regulatory uncertainties, blockchain offers significant promise for creating a transparent, efficient, and sustainable future in tourism and hospitality. By bridging theoretical constructs with practical insights, this chapter provides a comprehensive guide for researchers and practitioners aiming to harness blockchain’s capabilities.