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The application of blockchain in the cultural and tourism industry may become mainstream

Time : 29/06/2022 Author : 243hg8 Click : + -
        At present, the most profitable business in the tourism industry is captured by global OTA giants such as Expedia and trivago. In order to grab a larger market share from OTA giants, tui, the world's largest leisure tourism enterprise, announced in July last year that it began to invest in blockchain, becoming the first company in the tourism industry to try to apply blockchain technology. As a distributed ledger, one of the most obvious characteristics of blockchain is decentralization. In fact, due to the long industrial chain of the tourism industry, many intermediate links are involved in the transaction process, which brings great profit opportunities to tourism enterprises such as GDS, OTA and meta search.
 
        Although the application of blockchain is still in the initial stage, it may become the mainstream in the tourism industry in the next few years, which can save billions of dollars in costs for tourism enterprises every year in terms of payment and settlement. Therefore, both OTAs, hotels, airlines, software service providers and emerging blockchain start-ups have begun to try to use blockchain technology to apply blockchain technology to settlement, reservation process, inventory management, loyalty point management, smart contracts, luggage tracking, identity recognition and other aspects. Otawebjet in Australia cooperated with Microsoft to create a blockchain proof of concept project. It plans to improve the efficiency of hotel reservation by using blockchain to track the inventory status of hotels around the world.
 
        Siberia Airlines cooperated with alpha bank, the largest private bank in Russia, to accelerate the settlement between airlines and travel agencies through blockchain technology. Innfinitysoftware systems, a software service provider that provides business travel management and hotel management solutions, introduces blockchain technology to its online booking tool, innfinite, and only provides customers with products and content that meet the International Air Transport Association (IATA) NDC distribution standards. IATA even launched iatacoin, an electronic currency based on blockchain technology, at the 2016 world finance conference. In addition, Nordic choicehotels, a Nordic Hotel giant, piloted the blockchain for Stockholm hotels, and put one of its hotels on the open-source blockchain distribution platform developed by windingtree, and then promoted it to other hotels, with the aim of reducing distribution costs and improving hotel revenue.
 
        The hotel and resort business occupies a very important position in the new strategic positioning of Tui's vertical integration mode. In the process of strategic transformation, tui group has gradually changed from a transaction oriented tourism operator to a content-oriented Hotel and cruise ship group. The greatest benefit of this change to Tui is that it will further get rid of the disadvantage that its revenue and profit are affected by seasonality. In an interview in May last year, Fritz jousen, CEO of Tui group, explained the company's decision to stop investing in Tui data center and proprietary IT system and dump all data to Ethereum blockchain network. He said: "as a software engineer, I think it is necessary to compete with the cloud service giants in the future to operate the computer center.
 
        Blockchain technology will have an impact on the Internet in all fields from the beginning. " He said, "the emergence of the blockchain has solved this structural asymmetry problem. In the future, every computer in the distributed network will be equal as a node, and each node can access all the data on the network without the need for an intermediary trading platform. Today's Internet giants will lose their monopoly advantage in the market in the future.". Rusen said that blockchain technology will soon change this situation. He said: "at present, almost all large companies are studying how to use this technology. Blockchain technology will not appear on the Internet, because it will be a huge Internet in the future.
 
        In addition, the Internet will no longer distinguish levels in the future, and there are still a few privileged users on the Internet today. With the wide application of blockchain technology, all information structures will be independent, and important nodes on the network will be eliminated. The information on the blockchain cannot be tampered with. It can be transmitted to all users and can be seen on all computers in the same network. ". The value of the blockchain in the tourism industry is that the network it forms is a transparent and tamper proof global database, and every user on the network can upload and obtain tourism data in real time. Once a transaction occurs, the database will quickly and accurately record the data information in the reservation and payment system, which can not only prevent the oversold phenomenon, but also flexibly adjust the price according to the real-time tracked supply and demand relationship.
 
        In addition, after the smart contract is connected with other services such as market prediction and travel insurance on the blockchain, tourism enterprises can maximize their revenue. From the perspective of hotel owners, the use of blockchain technology only requires a slight modification of the software. From the perspective of users, the use of blockchain technology has little external impact on the user interface. These create good external conditions for tourism enterprises to introduce blockchain technology. In the field of tourism and financial technology, many critics are skeptical about the application prospect of blockchain technology. They believe that "smart chain" such as Ethereum blockchain is not an ideal solution to solve various disadvantages and inefficiencies of traditional systems characterized by centralization, and this technology is exaggerated at present.
 
        Their doubts include the problems of blockchain technology in terms of scale, practicality and cost performance. How to put the global industry data on the public blockchain that is also used in many other fields, and also require real-time updating of the industry data without overbooking or order conflict? How to edit or correct data when necessary in a database that only allows data to be added but cannot be tampered with? If every transaction on the distributed ledger requires payment of tokens, how to ensure that the data information of every large hotel, airline or tourism enterprise in the world is updated in real time is a cost-effective approach? In other words, for every data transferred to the blockchain, no matter whether it is small or large, the uploader has to pay a fee.
 
        In the Tongling section of the Yangtze River in Anhui Province, a large number of hazardous wastes are dumped in the Yangtze River embankment, and the "industrial chain" of illegally transferring hazardous wastes and other industrial wastes from Jiangsu, Zhejiang, Shanghai to Anhui along the Yangtze River has surfaced. Due to the strong specialization of home decoration consumption and disorderly competition in the home decoration market, consumers frequently fall into the trap of home decoration. How many "secrets" can not be said in the home decoration market?.
 
        
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