Blockchain Technology-based business model: a case study of travel sites

Abstract

Using emerging technologies is considered a source of competitiveness for the larger travel and tourism industry. One of these is Blockchain technology (BCT), which is a disruptive technology being applied to the travel and tourism industry. However, a proper framework explaining how the tourism industry uses BCT remains to be established. This study uses the case study of travel websites, and qualitatively studies the Reports and Blogs data of Travala.com, LockTrip and XcelTrip. Researchers, based on the Resource-Based View (RBV), determined that blockchain technology can bring resources to websites in the areas of Products, Marketing, Financial Transactional Factors, and Customer and Supplier Relationships. The technical characteristics of blockchain technology can be applied across various departments. Building upon this, we proposed a business model and made certain theoretical contributions.