Opportunities and risks in the implementation of blockchain in the tourism industry

The tourism industry faces many challenges that prevent it from achievingits goals. It is necessary to find a rational solution to be implemented on time. The purposeof the study is to examine the opportunities and risks of blockchain implementation in thetourism sector. Through a literature review and research and consideration of examplesfrom practice, the key opportunities and risks are identified. The main possibilities in theimplementation of blockchain in the tourism sector are considered, such as more securestorage of the large database; ensuring transparency in case of possible problems; supportingloyalty systems; cost reduction due to lack of intermediaries; inventory management,and others. The development examines the main risks that must be considered andactions taken to minimize them if necessary. In practice, implemented blockchain projectsare already being observed in the tourism sector. Given the dynamics in the industry andthe development of technology, it can be concluded that the applications of the technologywill increase.