How can Blockchain Technology enhance Operations Of The Hospitality Industry?
Blockchain technology has become a trending topic due to its technological, economic, and social associations. After all, it is one of the most exciting innovations of recent times. Blockchain professional have stepped into every sector and industry despite the technology’s youth. In this article, we will discuss blockchain’s potential in improving the operations of the hospitality and tourism industry.
Table of contents
- Blockchain and its working in brief
- Blockchain and the hospitality industry
- Tracking food and edibles
- Simplifying travel
- Preventing ID thefts
- Tracking guests and their luggage
- Improving transactions
Blockchain and its working in brief
Blockchain is a digital public ledger that records transactions permanently and anonymously. In simple words, it is a decentralized structure storing the occurrence of events in a specific order. Further, the ‘blocks’ are secure and immutable, and hence, hackers cannot access or alter the data. Blockchain developers use cryptography for encryption.
You can learn more about blockchain’s working through a blockchain degree or an online course.
Blockchain and the hospitality industry
Blockchain technology can be extremely beneficial for those working in hospitality management. For instance, hotels, airlines, and other hospitality businesses can improve their services drastically. Additionally, with increased guest satisfaction, their profits would also soar. Blockchain education can benefit managers and stakeholders in the hospitality business. Here’s how:
Tracking food and edibles
Restaurants monitor food items while delivering and shipping them from farms. They can introduce blockchain supply chain management to upgrade food quality and safety; for example, restaurants can collaborate with initial suppliers and use a blockchain platform to record the food transportation and processing.
Further, blockchain professionals can help restaurants design personalized platforms for tracking food and grocery deliveries. As a result, customers can also map the origin and route of their ordered food.
Planning a tour with family and friends can bewilder even the study ones. Also, from buying airplane tickets to booking hotels, the tasks are complex and time-consuming. Blockchain technology can help travelers by adding safety and transparency to their transactions. For instance, blockchain can generate a single travel token whose information would be visible to all airlines and hotels. As a result, travelers would no longer have to show their passports at multiple stages of booking, boarding, and checking into hotels. Simply put, blockchain makes the verification process efficient and secure.
Preventing ID thefts
Customers often present their IDs at airports, hotels, and restaurants. Consequently, they are vulnerable to ID thefts as the people around them can obtain this personal information. Blockchain developers can create a platform for tourists to store their ID proofs, social security numbers, and passports. Afterward, they can grant the hotel access to verify the data during check-ins.
Hospitality businesses can also use cryptographically secure codes to ensure the safety of their customers. Besides preventing theft, it will eliminate identity forgery.
Tracking guests and their luggage
Guests can instantly update hotels through blockchain technology when they leave their homes or board flights. Thus, the efficiency of the hotel’s management increases as the customers have to have a shorter time for checking in. Also, hotels can monitor their guests’ movements to upgrade their services and increase guest satisfaction. However, tracking the customers might be an invasion of privacy. So, the business owners can obtain blockchain education to create a platform that asks the guests how much information they wish to share with the hotel.
Baggage tracking is a challenge for international travelers. From airport and ground handling services to the hotel, it is a painstaking task to keep check of all the luggage. Blockchain technology can solve this problem by storing and luggage data processing data, thus reducing the mishandling of suitcases. Additionally, blockchain will allow parties to exchange information even if they don’t belong to the same airline or subdivision. Hence, baggage tracking improves all over the industry.
Completing finance settlements between hotels, travel agencies, and other travel-related bodies is complex. Especially when it comes to overseas transactions involving currency exchange, paying hotels resorts is complicated. Blockchain can optimize this process by eliminating the intermediaries that delay the operations. Furthermore, the overall transparency between the parties would also increase.
Another use of blockchain can be smart contracts that handle major and minor transactions. For instance, managers can employ the services of blockchain developer to enhance their business relations. Moreover, they can extend the smart contract feature to guests, thereby terminating the long check-in process.
Blockchain is a frontrunner in improving the hospitality sector’s operations. In addition to eliminating inefficient decentralized systems, blockchain can introduce various reforms to reshape the industry. With the help of blockchain professionals, travel and hospitality can become more secure and efficient.
Please visit BLOCKCHAIN COUNCIL to read about blockchain and its applications.