Analysis of applying blockchain technology to hospitality operation

Blockchain was first conceptualised in 2008 and drew attention from the general public since the introduction of one of its applications, cryptocurrency, in 2014. Blockchain consists of several revolutionary characteristics and has already been applied in different industries. Therefore, it is also deemed as a computer technology that has the potential to change the traditional business model. The hospitality industry is one of the significant economic supports to New Zealand; this industry could take advantage of the implementation of blockchain technology. Moreover, applying blockchain technology in various industries is a new arena in the existing research. The results of qualitative research indicate that blockchain technology could benefit the hospitality industry by building a more trustable reputation system, smoothening operation flow, reducing operation cost, enhancing customer experiences, enhancing food safety, and providing convenient payment methods without the necessity of intermediaries. This chapter is focused on investigating how the implementation of blockchain technology benefits the hospitality industry, together with its potential drawbacks