engleski

The impact of blockchain technology on tourism intermediation

Contemporary tourism has undergone many changes in the last decade, mainly due to expansion of the new technology. The use of new technology has had more positive than negative impacts on tourism, but none of them triggered a radical change. Blockchain technology has been one of the most discussed topics especially after 2016. Blockchain (chains of blocks) technology represents digital information or list of records (blocks) stored in a public database (the chain) and linked by cryptographic method. It is an immutable time-stamped series record of data in a P2P network computing system that is distributed and managed by clusters of autonomous computers, not by trusted authority or central server (intermediary). This open distributed digital ledger in a self- organization decentralized system records across many computers public transactions from anonymous parties. Therefore, this transparent automatic independent system protects and transmits confitential data smoothly, safely and efficiently. Except digital trust and manipulation immunity it provides multifunctional data support, so the technology can be used in multiple segments among tourism intermediaries. Even though it is still somewhat unfamiliar, it is a form of technology which has a great potential to cause a revolution in traditional business activities. This phenomenon has been recognized by many bigger tourism stakeholders and travel agencies owned by some of the biggest tour operators, technology-oriented companies. Such fast changes require even faster adaptions of all tourism intermediaries and this is challenging because most of stakeholders are not familiar with the role, importance, use and impact that blockchain technology has on tourism intermediation. Therefore, in this paper the authors try to provide answers to some questions and doubts regarding the theory of blockchain technology in tourism intermediation (its impacts on the implementation and potential positive and negative sides of its use, strengths, weaknesses, opportunities and threats). The main aim of the paper is to present a SWOT analysis of blockchain technology implications on tourism intermediation. Furthermore, as trends are dynamic and evolve rapidly the topic becomes particularly challenging for scientists in bridging practice into theory. The results show that some changes will affect only some participants in the distribution channel of tourism intermediation. On the other side, some changes will be common among all participants. Therefore, SWOT analysis shows that everyone will face various challenges in its implementation (business internationalization and automation, greater transparency and security, distributive real- time synchronization and interaction, new business models…). All these positive and negative changes have to be considered seriously in the phase of its implementation.

blockchain technology, tourism intermediaries, business evolution, SWOT analysis

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