Never-before-seen levels of efficiency and opportunity are opening up within the hospitality industry through the advent of blockchain. This latest buzzword of the moment is living up to its hype thanks to the tangible benefits it offers to guests and businesses, from both corporate groups to smaller independent hotels.
As Atlantis the Palm in Dubai becomes the first hotel in the world to offer a blockchain-based payment system onsite, the industry is coming to recognise the watertight security, not to mention productivity benefits of having guests charge all their transactions to a single incorruptible digital ‘wallet’ that is ‘always on’ and viewable by all parties. When this instant, cloud-based payment system is integrated with third party entities around the city and beyond, suddenly every transaction becomes an opportunity to understand more about our customers’ behavior and to work in partnership with other touchpoints in the value chain to deliver a seamless, integrated country and even worldwide guest experience. This is being described as next generation CRM at its best and now is only just the beginning.
In early March, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai announced the creation of a huge and fully blockchain-based marketplace for tourism and the hotel business. According to a government press release, the marketplace will become fully functional in only two years from now. A smaller-scale project is also being developed in Australia.