{"id":10046,"date":"2020-04-23T13:17:20","date_gmt":"2020-04-23T17:17:20","guid":{"rendered":"https:\/\/www.bu.edu\/hospitality\/?p=10046"},"modified":"2021-05-18T13:11:56","modified_gmt":"2021-05-18T17:11:56","slug":"blockchain-a-paradigm-shift-in-business-practices","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/hospitality\/2020\/04\/23\/blockchain-a-paradigm-shift-in-business-practices\/","title":{"rendered":"Blockchain: A Paradigm Shift in Business Practices"},"content":{"rendered":"<h2>By Makarand Mody<\/h2>\n<figure id=\"attachment_10271\" aria-describedby=\"caption-attachment-10271\" style=\"width: 1210px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" src=\"\/hospitality\/files\/2020\/04\/Website-Images-1200x700-22.png\" alt=\"\" width=\"1200\" height=\"700\" class=\"wp-image-10271 size-full\" srcset=\"https:\/\/www.bu.edu\/hospitality\/files\/2020\/04\/Website-Images-1200x700-22.png 1200w, https:\/\/www.bu.edu\/hospitality\/files\/2020\/04\/Website-Images-1200x700-22-636x371.png 636w, https:\/\/www.bu.edu\/hospitality\/files\/2020\/04\/Website-Images-1200x700-22-1024x597.png 1024w, https:\/\/www.bu.edu\/hospitality\/files\/2020\/04\/Website-Images-1200x700-22-768x448.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-10271\" class=\"wp-caption-text\">Photo by <a href=\"https:\/\/unsplash.com\/@silverhousehd?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Andr\u00e9 Fran\u00e7ois McKenzie<\/a> on <a href=\"https:\/\/unsplash.com\/s\/photos\/blockchain?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Unsplash<\/a><\/figcaption><\/figure>\n<h3 class=\"intent_title Abstract__title\">Abstract<\/h3>\n<div class=\"intent_sub_item Abstract__block mb-3\">\n<section class=\"intent_sub_content Abstract__block__text\">The purpose of this paper is to introduce and explore blockchain technology and its potential implementation to hospitality and tourism firms\u2019 wide range of business operations and transactions from a technological and functional point of view. This study\u2019s central interest is to produce novel and rigorous in-depth-review analysis and foundations for a broad discussion and outlook on the potential applications of blockchain technology benefiting hospitality and tourism research, as well as the industry as a whole.<\/section>\n<\/div>\n<div class=\"intent_sub_item Abstract__block mb-3\">\n<section class=\"intent_sub_content Abstract__block__text\">This study identifies and proposes several potential areas of the adoption and implementation of blockchain technology to the hospitality and tourism industry, including payment and cryptocurrencies, tracking and service customization, the disintermediation of hospitality and tourism, innovative loyalty programs, smart contracts, integrated property management systems, verified rating and review systems, collaborative initiatives and due diligence and smart tourism, each of which represents fertile avenues for future research. Read More:\u00a0<a href=\"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJCHM-12-2018-0958\/full\/html\">https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJCHM-12-2018-0958\/full\/html<\/a><\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Makarand Mody Abstract The purpose of this paper is to introduce and explore blockchain technology and its potential implementation to hospitality and tourism firms\u2019 wide range of business operations and transactions from a technological and functional point of view. This study\u2019s central interest is to produce novel and rigorous in-depth-review analysis and foundations for [&hellip;]<\/p>\n","protected":false},"author":18480,"featured_media":10271,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[64,70],"tags":[314,197,313,61],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts\/10046"}],"collection":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/users\/18480"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/comments?post=10046"}],"version-history":[{"count":4,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts\/10046\/revisions"}],"predecessor-version":[{"id":10273,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/posts\/10046\/revisions\/10273"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/media\/10271"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/media?parent=10046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/categories?post=10046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/tags?post=10046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}