Each day, more and more blockchain technology-based solutions are being developed across various major industries and applications globally. It’s also evident how the blockchain revolution has brought about great success, especially in the financial sphere. In fact, as time goes by, we expect to see more industries adopting this technology.
The nascent rise of blockchain technology offers great potential for human efficiency. This can revolutionize some of the significant aspects of the technology, governance, and business. Also, it is tamper-evident, trust-free, and has cryptographic security features. In fact, corporations, governments, and individual investors have adopted blockchain-based systems to test and integrate the technology to use.
One of the major implications of blockchain technology is in the banking and finance industry. Blockchain-based systems offer more secure, cost-effective, and time-efficient financial transactions. While the technology is still new in the market, other industries also have an opportunity to adopt it for efficient outcomes.
Important Areas of Adoption
In this article, we will discuss how blockchain technology can be used in the travel and tourism sector. For instance, hotels, airlines, travel agencies, restaurants, and departments in the hospitality industry can use the technology to improve services, profitability, and guest satisfaction among other benefits. Let us look closely at these highlights.
ID and Security
One of the major concerns in the tourism sector is the identification and the security services of their customers. With blockchain technology in place, however, passengers would no longer need to show their identity at various stages when traveling. A shared digital database can be created to save and verify passengers’ information. This can reduce the verification waiting time and also save money.
Blockchain-based systems in the tourism sector can also help solve the problem of identity theft
