The end of the package holiday provider? Blockchain technology could revolutionize travel experiences

Neglect the intermediary—blockchain expertise may result in the tip of the standard package deal vacation supplier, placing energy again into the arms of shoppers, in keeping with a brand new research from the College of Surrey.

The analysis appeared into person acceptance of blockchain-based sharing platforms much like Airbnb. The research discovered that blockchain technology may remove intermediaries, resembling vacation suppliers, probably slashing prices by bypassing reserving platforms.

The research additionally means that property homeowners stand to realize from blockchain adoption and acquire extra direct earnings, bypassing hefty charges usually levied by itemizing firms.

Prospects may additionally profit from higher management over their personal data, because of blockchain’s elevated safety and privateness throughout bookings.

Professor Iis Tussyadiah, co-author of the research and Head of the College of Hospitality and Tourism Administration, mentioned, “Understanding how customers worth completely different options relying on the platform’s design is essential for constructing profitable blockchain-based sharing economies.

“Our analysis flips the script on conventional sharing economic system fashions, putting energy firmly within the arms of customers, not firms.”

The research additionally highlights nuanced gender-based variations in person preferences, with girls prioritizing traceability for safety whereas males lean in direction of earnings distribution.

Professor Iis Tussyadiah continued, “Our analysis highlights the significance of person empowerment and context-specific issues. However it’s not a one-size-fits-all answer. Blockchain options can drive widespread adoption and reshape the trade panorama by understanding elements resembling charges, privateness, and income distribution throughout the sharing economic system.”

The study, additionally co-authored by Ikram Muharam and Dr. Albert Kimbu, has been revealed in Tourism Administration.