DeutschThere’s no question that digitalization has greatly changed tourism in the recent past. Many vacationers no longer book their vacations at a travel agency, but on the Internet. On site at the travel destination, people use their cell phones for sightseeing tips or as a translator for communication, or book excursions conveniently via apps like GetYourGuide.
But that’s just the beginning. Because the widespread integration of blockchain solutions like smart contracts could sustainably change the way we book a flight to Mallorca, a vacation home in Liguria, a hotel in Paris, or a private sightseeing tour through London.
Sounds like exciting prospects – that’s why we’ll take a closer look at potential use cases of smart contracts in the tourism sector using a concrete example and also look at other ways blockchain solutions could change the tourism industry.
What could Smart Contracts Look like in Tourism?
Whether you book on site at a travel agency or via the Internet, the travel industry currently rarely works through direct bookings, but only through middlemen such as the classic travel agency or Internet portals such as Booking.com or Airbnb.
These intermediary instances are intended to enable a secure transaction with the actual provider on the consumer’s side and to serve as an additional trust factor before a contract is concluded with a basically unknown counterparty. We think that sounds pretty much like the use case for a blockchain solution…
But regardless of this, the question arises as to why a system that has proven itself for decades should be changed or replaced by a new solution at all. The answer to this is quite simple: because consumers save real money as a result. Because currently the aforementioned intermediaries receive commissions of 5, 10 or even 25 percent of the total price – which ultimately increases the costs for the consumer.
With the help of smart contracts, these intermediaries may no longer be necessary in the future and consumers could save money in the future when booking flights, trips, rental cars and the like. We want to take a look at what this looks like in concrete terms using the example of a vacation home booking.
Example: Renting a Vacation Home in Liguria
With its unique location between the Tyrrhenian Sea, known as a bathing paradise, on the one hand and the imposing Maritime Alps on the other, Liguria is considered one of the most diverse travel destinations in Italy.
Let’s assume that we want to see the beauty of the region for ourselves and rent a vacation home in Liguria. Nowadays, we would most likely do this via a specialized booking portal on the Internet. This has the advantage that you can then assume that you will get to a reputable landlord and not have to experience any unpleasant surprises after arrival or before departure.
The same could be achieved with smart contracts in the future. Since these are considered to be very forgery-proof on the one hand and neutral on the other, the trust basis between the individual contracting parties fades into the background. As a result, third parties as a common trust basis would no longer be necessary as in the example above. Instead, the contract could be concluded in good conscience directly between the tenant and the landlord of the vacation apartment. The biggest advantage: both sides do not have to pay a commission to a third party.
Smart contracts will most likely bring about some, in some cases far-reaching, changes in the tourism industry. But other blockchain-based technologies could also change the way we book our vacations soon.
Further Applications of Blockchain in Tourism
The possible applications of blockchain technology in the tourism industry are by no means limited to booking hotels, vacation homes or flights. Rather, from startups to established companies, almost all players in the tourism industry are currently working feverishly to change the industry in a sustainable way.
For example, the Estonian startup DeskBell is developing a blockchain-based app that is designed to recommend tailor-made offers and services to hotel guests.
Speaking of recommendations: if you want to go on a discovery tour in a foreign city or a foreign country, you are grateful for every authentic tip from a local. But how do you get in touch with them? That’s exactly what the startup “Cool Cousin” is taking care of, which wants to connect tourists with locals using its blockchain-based technology in order to enable them to have the most authentic vacation experience possible.
But even market leaders like TUI want to take advantage of the blockchain to prepare for the future. With the “BedSwap” service, for example, bookings are to be distributed in such a way that hotel chains get as close as possible to 100% occupancy.
Whether you want to book a cheap flight to Mallorca, organize a travel guide for Rome or rent a vacation home in Liguria: Blockchain technologies such as smart contracts will certainly change the way we book and organize our vacations in a sustainable way.
