PROSPECTS OF THE USE OF BLOCKCHAIN TECHNOLOGIES AND CRYPTOCURRENCIES IN THE TOURISM INDUSTRY

DOI: https://doi.org/10.32782/2522-1205-2024-75-13
Keywords: tourism, tourism industry, market of tourist services, information technology, digitalization, blockchain, cryptocurrency

Abstract

Tourism is one of the most dynamic sectors of the world economy, which is constantly growing and developing despite periodic global threats such as wars and pandemics. Globalization and digitalization in the tourism sector are driving demand for easy-to-use and low-cost international transaction processes and payment systems. Recent technological developments and innovations have significantly affected the tourism industry and one of the important components of these changes has been the introduction of new technologies and new payment methods. One of these technologies is the blockchain and cryptocurrencies developed on the basis of this technology. It should be noted that under modern conditions the tourism industry almost does not use the possibilities of blockchain technology and cryptocurrencies which determines the need to conduct relevant research and confirms the relevance of the article’s topic. The purpose of the study is to determine the role and prospects of using blockchain technology and cryptocurrencies in the tourism industry, particularly in Ukraine. The concepts of blockchain and blockchain technology are defined, the global market of cryptocurrencies and the place of Ukraine in this market are characterized, the advantages and possibilities of wider use of cryptocurrencies in the tourism industry under modern conditions are considered. The author also demonstrates the importance and potential of cryptocurrencies and blockchain technologies in the field of tourism, but at the same time analyzes the risks and limitations of using cryptocurrencies in the tourism business. A list of key tasks to be solved by legislative institutions, national governments, financial regulators and other interested parties has been identified in order to unlock the full potential of cryptocurrencies in the tourism business and increase the efficiency, security and convenience of tourist financial transactions. Prospects for further scientific research in this area have been determined.

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Published
2024-04-04
Issue
No. 75 (2024): Herald of LUTE. Economic sciences
Section
Статті