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Transforming the Travel Landscape: Smart Contracts in Tourism Management
Abstract
This chapter explores smart contract integration in tourism, examining its current state, applications, challenges, and future trajectories. Leveraging blockchain, smart contracts enhance transaction security and transparency, addressing fraud concerns. They significantly cut costs and boost efficiency in booking and payment, benefiting travelers and service providers with increased control and trust. Challenges like technical hurdles, legal considerations, and seamless system integration are viewed as opportunities for meticulous resolution. Emphasis is placed on addressing scalability, coding, legal frameworks, and user education. The chapter envisions a future where smart contracts merge with AI/ML, reshaping personalized travel services. It explores DAOs in tourism, suggesting decentralized decision-making, transparent governance, and community-driven initiatives. The chapter acknowledges limitations and advocates for ongoing monitoring due to the dynamic nature of smart contracts.
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