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Evaluating the opportunities, challenges and risks of applying the blockchain technology in tourism: a Delphi study approach

Evaluating the opportunities, challenges and risks of applying the blockchain technology in... The purpose of this study is to empirically evaluate the potential of the blockchain technology in tourism. The blockchain technology (BCT) holds potential to contribute significantly to tourism policy and practice. Academic interest in the BCT is rapidly growing with studies looking at the opportunities and challenges of its application. The shortcoming of research on the BCT in tourism has however been in its conceptual nature. The lack of empirical investigations hinders an understanding of how the BCT can be more broadly adopted in tourism, especially from the viewpoint of minimizing its risks.Design/methodology/approachThe initial screening of the opportunities, challenges and risks is undertaken via a systematic literature review. The Delphi study is subsequently applied to empirically confirm what opportunities, challenges and risks can be attributed to the BCT use in tourism. Twelve industry and academic experts have contributed to the Delphi study.FindingsThe risks identified have been categorized as societal, technical, financial and legal. Propositions have been made on how these risks can, at least partially, be overcome.Originality/valueTo the best of the authors’ knowledge, it is the first known attempt to study the BCT from the perspective of academic and industry experts. This research is also one of the first to evaluate the risks of the BCT use in tourism. Most risks are identified as not critical and can be addressed as the BCT develops. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Hospitality and Tourism Technology Emerald Publishing

Evaluating the opportunities, challenges and risks of applying the blockchain technology in tourism: a Delphi study approach

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1757-9880
eISSN
1757-9880
DOI
10.1108/jhtt-04-2021-0115
Publisher site
See Article on Publisher Site

Abstract

The purpose of this study is to empirically evaluate the potential of the blockchain technology in tourism. The blockchain technology (BCT) holds potential to contribute significantly to tourism policy and practice. Academic interest in the BCT is rapidly growing with studies looking at the opportunities and challenges of its application. The shortcoming of research on the BCT in tourism has however been in its conceptual nature. The lack of empirical investigations hinders an understanding of how the BCT can be more broadly adopted in tourism, especially from the viewpoint of minimizing its risks.Design/methodology/approachThe initial screening of the opportunities, challenges and risks is undertaken via a systematic literature review. The Delphi study is subsequently applied to empirically confirm what opportunities, challenges and risks can be attributed to the BCT use in tourism. Twelve industry and academic experts have contributed to the Delphi study.FindingsThe risks identified have been categorized as societal, technical, financial and legal. Propositions have been made on how these risks can, at least partially, be overcome.Originality/valueTo the best of the authors’ knowledge, it is the first known attempt to study the BCT from the perspective of academic and industry experts. This research is also one of the first to evaluate the risks of the BCT use in tourism. Most risks are identified as not critical and can be addressed as the BCT develops.

Journal

Journal of Hospitality and Tourism Technology – Emerald Publishing

Published: Nov 30, 2022

Keywords: Blockchain technology; Distributed ledger; Cryptocurrencies; Delphi; Blockchain-based tourism; 区块链技术、分布式账本、加密货币、德尔菲调查法、基于区块链的旅游

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