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Concept, Applications, Challenges, and Security Threats of Blockchain Technology in the Tourism Industry
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Author(s): Ashish Raina (CT University, India), Sarita Rani (APS Miran Sahib, India)and Gaurav Bathla (CT University, India)
Copyright: 2025
Pages: 16
Source title:
Exploring the World With Blockchain Through Cryptotravel
Source Author(s)/Editor(s): Riktesh Srivastava (City University, Ajman, UAE), Varinder Singh Rana (City University, Ajman, UAE)and Mohd Abu Faiz (City University, Ajman, UAE)
DOI: 10.4018/979-8-3693-6562-5.ch004
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Abstract
Blockchain technology, a decentralized, transparent, and immutable system, has emerged as a transformative force across various sectors, including tourism and hospitality. Originally developed for cryptocurrencies, blockchain's core principles—such as enhanced security, decentralized data management, and trustless transactions—are now being applied to address key challenges in the tourism industry. Despite its numerous advantages, blockchain presents several challenges and security threats to the hospitality industry. Issues such as scalability, high implementation costs, regulatory uncertainty, and data privacy concerns complicate its adoption. Furthermore, the risk of cyberattacks, including 51% attacks and vulnerabilities in smart contracts, poses significant security threats. The chapter concludes by acknowledging blockchain's potential while emphasizing the need for the industry to navigate these challenges carefully, particularly through strategic investment in infrastructure, security, and compliance.
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