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Potential of the Crypto Economy in Financial Management and Fundraising for Tourism

Author

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  • Juan F. Prados-Castillo

    (Marketing and Market Research Department, Melilla Campus, Universidad of Granada, 52005 Melilla, Spain)

  • Miguel Ángel Solano-Sánchez

    (Department of Applied Economics, Faculty of Social and Legal Sciences, Melilla Campus, University of Granada, 52005 Melilla, Spain)

  • Pilar Guaita Fernández

    (Department of International and Spanish Economics, University of Granada, 18071 Granada, Spain)

  • José Manuel Guaita Martínez

    (Department of Economics and Social Sciences, Universitat Politècnica de València, 46022 València, Spain)

Abstract

This study aims to examine the potential of blockchain technology in the financing and financial management of entrepreneurial tourism projects. It highlights two objectives: how the technology can be used as an alternative financing tool and how it can improve efficiency and transparency in the financial management of tourism companies. This study shows that initial coin offerings are an effective way to finance innovative tourism projects and that blockchain technology can improve the competitiveness and efficiency of tourism companies. Due to the lack of empirical data on the actual implementation and impact of blockchain technology in the tourism industry, it is suggested that further research is needed to examine the practical application of blockchain technology in the tourism industry, its potential impact on tourism businesses and its implications for the regulatory framework. The proposed methodology includes a systematic literature review on the application of blockchain technology for the financing of tourism projects and the financial improvement of tourism business models. The results indicate that blockchain technology has the potential to transform the financing and financial management of the tourism industry and improve its efficiency and transparency. Furthermore, combining blockchain with other technologies can provide additional benefits in supply chain management and event automation.

Suggested Citation

  • Juan F. Prados-Castillo & Miguel Ángel Solano-Sánchez & Pilar Guaita Fernández & José Manuel Guaita Martínez, 2023. "Potential of the Crypto Economy in Financial Management and Fundraising for Tourism," Sustainability, MDPI, vol. 15(6), pages 1-15, March.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:6:p:4978-:d:1094044
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    References listed on IDEAS

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    Cited by:

    1. Juan F. Prados-Castillo & Juan Antonio Torrecilla-García & Georgette Andraz & José Manuel Guaita Martínez, 2023. "Blockchain in Peer-to-Peer Platforms: Enhancing Sustainability and Customer Experience in Tourism," Sustainability, MDPI, vol. 15(22), pages 1-17, November.

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