Blockchain technology diffusion in tourism: Evidence from early enterprise adopters and innovators

Blockchain technology diffusion in tourism: Evidence from early enterprise adopters and innovators

2024 | Yin Maythu, Andrei O.J. Kwok, Pei-Lee Teh
This study explores the factors influencing blockchain technology diffusion in the tourism industry, focusing on early adopters and innovators. Through semistructured interviews with tourism enterprise founders and senior executives in the U.S. and Europe, the research identifies key motivators and challenges in blockchain adoption. The findings reveal that blockchain offers significant benefits despite its limited integration with enterprise strategic plans and the limited success of some use cases in tourism. The study develops a conceptual framework and proposes research directions to guide the strategic implementation of blockchain for competitive advantage. Key motivators include the potential for early market access, the use of cryptocurrencies, cost reduction, data ownership, and business opportunities. Challenges include technology maturity and scalability, lack of skilled workers, the need for user input, change management issues, monopolies as roadblocks, and a lack of perceived benefits. Environmental impact is also a concern, though blockchain can be made more sustainable through the use of green energy. The study highlights the importance of relative advantage, compatibility, complexity, trialability, and observability in the diffusion of blockchain technology. These factors influence how blockchain is adopted and implemented in the tourism sector. The research underscores the need for businesses to understand the strategic value of blockchain and to address challenges such as digitalization and organizational readiness. The findings suggest that blockchain can enhance operational efficiency, reduce costs, and improve customer trust in the tourism industry. The study also emphasizes the importance of observability and customer readiness in the adoption of new technologies. Overall, the research provides insights into the diffusion of blockchain in tourism and offers a framework for future research and practical implementation.This study explores the factors influencing blockchain technology diffusion in the tourism industry, focusing on early adopters and innovators. Through semistructured interviews with tourism enterprise founders and senior executives in the U.S. and Europe, the research identifies key motivators and challenges in blockchain adoption. The findings reveal that blockchain offers significant benefits despite its limited integration with enterprise strategic plans and the limited success of some use cases in tourism. The study develops a conceptual framework and proposes research directions to guide the strategic implementation of blockchain for competitive advantage. Key motivators include the potential for early market access, the use of cryptocurrencies, cost reduction, data ownership, and business opportunities. Challenges include technology maturity and scalability, lack of skilled workers, the need for user input, change management issues, monopolies as roadblocks, and a lack of perceived benefits. Environmental impact is also a concern, though blockchain can be made more sustainable through the use of green energy. The study highlights the importance of relative advantage, compatibility, complexity, trialability, and observability in the diffusion of blockchain technology. These factors influence how blockchain is adopted and implemented in the tourism sector. The research underscores the need for businesses to understand the strategic value of blockchain and to address challenges such as digitalization and organizational readiness. The findings suggest that blockchain can enhance operational efficiency, reduce costs, and improve customer trust in the tourism industry. The study also emphasizes the importance of observability and customer readiness in the adoption of new technologies. Overall, the research provides insights into the diffusion of blockchain in tourism and offers a framework for future research and practical implementation.
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