Is blockchain technology a watershed for tourism development?

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Abstract

The rise of blockchain technology could radically disrupt the global economy. As an emergent technology, blockchain is of broad and current interest in the tourism industry. Small island economies are at the forefront of adopting this digital asset and technology. For instance, the Caribbean economies are launching their first digital legal tender, and Aruba is developing a blockchain platform to boost tourism revenue. Given the velocity of adoption, blockchain technology holds significant implications for tourism development. This research letter provides a discourse on the adoption of blockchain technology among small island economies concerning the opportunities and potential challenges faced and offers practical implications for tourism stakeholders.

Original languageEnglish
Pages (from-to)2447-2452
Number of pages6
JournalCurrent Issues in Tourism
Volume22
Issue number20
DOIs
Publication statusPublished - 14 Dec 2019

Keywords

  • Bitcoin
  • Blockchain technology
  • cryptocurrency
  • economic impacts
  • Ethereum
  • tourism development

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