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Technology assessment: Enabling Blockchain in hospitality and tourism sectors

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  • Sharma, Mahak
  • Sehrawat, Rajat
  • Daim, Tugrul
  • Shaygan, Amir

Abstract

The tourism and hospitality sector's inequitable environment demands an unassailable and disruptive technology that optimizes its operational efficiencies. Thus, this paper aims to explore the nature of blockchain technology under varying conditions for consumer benefits. Academic and press articles followed by interviews from industry experts were used to explore the nature of blockchain technology (BCT) for the hospitality and tourism sector (HTS). A hybrid research methodology is proposed to investigate the criticality of factors, their hierarchical model, and cause & effect relationships. 35 Employees from two geographies, namely India (N=17) and Netherlands (N=18) in hospitality and tourism firms, were interviewed. In the next step, the expert opinions were collected using the Analytic hierarchy process - Interpretive Structural Modeling- Decision-making trial and evaluation laboratory (AHP-ISM-DEMATEL) technique. A forward-looking approach was adopted by considering the implications of barriers and drivers on the adoption of BCT and thereby benefiting HTS. The results suggest that ‘low cost’ and ‘risk management’ are the key drivers with driving power of 1 and 10 in Indian and the Netherlands, respectively. They are placed at I and VI hierarchy levels and fall under the cause effect group. ‘Lack of Government Regulation/ Policy’ and ‘Market Uncertainty’ are the critical barriers with driving power 9 and 10 in the Indian and Netherlands context, respectively. They are placed at V and III hierarchy levels and fall under the cause effect group.

Suggested Citation

  • Sharma, Mahak & Sehrawat, Rajat & Daim, Tugrul & Shaygan, Amir, 2021. "Technology assessment: Enabling Blockchain in hospitality and tourism sectors," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    • Handle: RePEc:eee:tefoso:v:169:y:2021:i:c:s0040162521002420
    DOI: 10.1016/j.techfore.2021.120810
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    3. Chand Bhatt, Priyanka & Kumar, Vimal & Lu, Tzu-Chuen & Daim, Tugrul, 2021. "Technology convergence assessment: Case of blockchain within the IR 4.0 platform," Technology in Society, Elsevier, vol. 67(C).
    4. Witold Torbacki, 2021. "A Hybrid MCDM Model Combining DANP and PROMETHEE II Methods for the Assessment of Cybersecurity in Industry 4.0," Sustainability, MDPI, vol. 13(16), pages 1-35, August.
    5. Kumar, Shashank & Raut, Rakesh D. & Agrawal, Nishant & Cheikhrouhou, Naoufel & Sharma, Mahak & Daim, Tugrul, 2022. "Integrated blockchain and internet of things in the food supply chain: Adoption barriers," Technovation, Elsevier, vol. 118(C).
    6. Naeini, Ali Bonyadi & Zamani, Mehdi & Daim, Tugrul U. & Sharma, Mahak & Yalcin, Haydar, 2022. "Conceptual structure and perspectives on “innovation management”: A bibliometric review," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    7. Atul Kumar Singh & V. R. Prasath Kumar & Muhammad Irfan & Saeed Reza Mohandes & Usama Awan, 2023. "Revealing the Barriers of Blockchain Technology for Supply Chain Transparency and Sustainability in the Construction Industry: An Application of Pythagorean FAHP Methods," Sustainability, MDPI, vol. 15(13), pages 1-27, July.
    8. Manideep Yenugula & Shankha Shubhra Goswami & Subramaniam Kaliappan & Rengaraj Saravanakumar & Areej Alasiry & Mehrez Marzougui & Abdulaziz AlMohimeed & Ahmed Elaraby, 2023. "Analyzing the Critical Parameters for Implementing Sustainable AI Cloud System in an IT Industry Using AHP-ISM-MICMAC Integrated Hybrid MCDM Model," Mathematics, MDPI, vol. 11(15), pages 1-35, August.
    9. Treiblmaier, Horst & Petrozhitskaya, Elena, 2023. "Is it time for marketing to reappraise B2C relationship management? The emergence of a new loyalty paradigm through blockchain technology," Journal of Business Research, Elsevier, vol. 159(C).
    10. Ankit Dhiraj & Sanjeev Kumar & Divya Rani & Simon Grima & Kiran Sood, 2023. "Blockchain Payment Services in the Hospitality Sector: The Mediating Role of Data Security on Utilisation Efficiency of the Customer," Data, MDPI, vol. 8(8), pages 1-14, July.
    11. Roberto Leonardo Rana & Nino Adamashvili & Caterina Tricase, 2022. "The Impact of Blockchain Technology Adoption on Tourism Industry: A Systematic Literature Review," Sustainability, MDPI, vol. 14(12), pages 1-17, June.
    12. Cozzio, Claudia & Viglia, Giampaolo & Lemarie, Linda & Cerutti, Stefania, 2023. "Toward an integration of blockchain technology in the food supply chain," Journal of Business Research, Elsevier, vol. 162(C).

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