Crypto Tourism: Learn How Blockchain can be used in Tourism

Digital currencies are quickly being recognized in the tourism business, thanks to the rise of cryptocurrencies. In 2017, crypto tourism began to gain steam, but all types of travel and tourism were halted due to the COVID-19 epidemic. 

 

The travel sector is more receptive to new ideas and learning methods to be more efficient now that more nations have opened and travel has resumed. Acceptance of digital currencies, according to others, might help the industry recover. Many people are also willing to travel using cryptocurrencies such as bitcoin.
 

 

Also Read | What Virtual Tourism is, and what are its applications

 

Understanding Crypto Tourism

 

Despite market instability, the blockchain and cryptocurrency businesses have experienced rapid expansion, causing investors to be concerned. There has been an increase in the number of people who are adopting digital currencies and using crypto exchanges such as Redot. As a result, after normalcy was restored, tourists began to have an increased willingness to use bitcoins for their excursions.

 

When various tourist companies began to organize some trip packages for cryptocurrency and blockchain aficionados, crypto tourism was born. Cryptocurrency holders can take advantage of travel programs such as expensive cruises.

 

Crypto tourism is a type of travel service that caters exclusively to cryptocurrency aficionados. It frequently entails organizing scheduled travel excursions that may be paid for in digital currency or include bitcoin lectures or lessons as part of the tour.

 

The crypto-rich and famous are the primary targets of crypto tourism. Regular folks interested in cryptocurrencies, on the other hand, can go on crypto cruises and make payments using cryptocurrency while on vacation. During most excursions, digital currencies such as Bitcoin (BTC) can be used to pay for items like lodgings, meals, and airline tickets.

 

It's vital to recognize that crypto tours and cruises aren't only for fun; they also contain cryptocurrency-related conferences, exhibitions, and panel discussions.

 

Blockchain's Uses or Potential Uses in the Travel Industry

 

Four of the most promising applications of blockchain technology in the hospitality and travel industries are listed below.

 

1. Services for identification

 

The travel sector relies heavily on identification services, and blockchain has the potential to become the industry standard for storing this data. Because a simple fingerprint or retina scan can replace exhibiting documents, the technology has the potential to substantially shorten check-in times or waits in airports when used in this way.

 

2. Luggage Tracking

 

When it comes to tracking the movements of bags, blockchain technology can be incredibly useful, especially when dealing with international travel. Frequently, a customer's luggage will change hands several times during their voyage. Sharing tracking data across firms is much easier when using a decentralized database.

 

Watch this: Thailand's Crypto Tourism

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3. Loyalty Programs for Customers

 

Finally, many travel businesses provide customer loyalty programs to encourage repeat business. These programs can benefit from blockchain technology, which simplifies the process, allows clients to access information about their loyalty points more simply, and allows tokens to be issued. It can also aid in the fight against fraud in this sector.

 

4. Payments that are secure and traceable

 

Payments are perhaps the most essential application of blockchain technology in the hotel, tourism, and travel industries. Its uses might range from serving as a global ledger to making bank payments more straightforward and safe to allowing travel businesses to accept Bitcoin and other cryptocurrencies as payment methods.

 

 

Examples of Crypto Tourism

 

The Coinsbank blockchain cruise, which took place in 2017, was one example of previous crypto excursions. Because the program was both amusing and educational, a large number of people from 19 different nations attended.

 

Issues relating to cryptocurrencies and blockchain technology were explored during the Coinsbank blockchain cruise. Many industry experts, including Ledger, Bitcoin.com, Unocoin, and others, gave speeches on the trip.

 

This type of activity was also offered by businesses in New Zealand. They were more of a travel package where visitors could pay for their activities using cryptocurrency. Blockchain allows platforms focused on tourism to enable crypto transactions, develop efficient loyalty programs, and tokenize physical assets like resort spaces by making them Non-fungible Tokens (NFTs).

 

Who Uses Crypto Tourism?

 

As previously said, the crypto tours' target clients are individuals we refer to as the crypto-rich and famous. Many ordinary people interested in cryptocurrencies may go on a crypto tour or use it to pay for their vacations.

 

In the past, a few crypto tours were arranged for specific goals, such as promoting a potential initial coin offering (ICO). Conferences, presentations, and market lectures by promoters, industry leaders, and likes are all part of the agenda. As a result, crypto tourism is also employed by platforms looking to host events such as initial coin offerings (ICOs).

 

As more countries open their borders to travellers, Americans are making preparations to continue using digital currency. According to research, 22% of consumers in the United States plan to use cryptocurrencies to pay for travel in the second half of this year.

 

Also Read | Applications in Travel Industry
 

 

Benefits of Crypto Tourism

 

Although the number of participants in crypto tourism appears to be tiny at the moment, there is a chance that it may arise in the future as blockchain makes waves in the travel sector, bringing with it a slew of benefits. 

 

1. For starters, it provides travellers with a new option to pay for their travels.

2. It provides an opportunity for learning about bitcoin trends and investments. 

3. It provides an opportunity for enthusiasts to meet industry professionals, allowing them to meet experts they've always wanted to meet.

 

 

A Case Study of Crypto Tourism

 

Cryptotourism and other types of tourism were slowed by the COVID-19 pandemic. As the sector recovers, new trips, such as the Coinsbank cruise in 2019, may become available. 

 

Top industry figures such as Roger Ver, a promoter of bitcoin cash, and Jimmy Song, a proponent of bitcoin, were on board. The Mediterranean overstock trip aboard the Oasis of the Seas began in Barcelona and ended in Rome.

 

With attendees from 19 countries, the 2017 Coinsbank blockchain cruise was both amusing and educational. At the overstock cruise, issues relating to cryptocurrency and blockchain technology were explored. Many industry giants gave talks, including Ledger, Bitcoin.com, Storifier, Unocoin, and others.

 

Despite market volatility, which has prompted investor fears, the blockchain and cryptocurrency business continues to thrive. More people are adopting digital currencies and using crypto exchanges such as Redot. With the restoration of normalcy, travellers are increasingly interested in using cryptocurrency for their travels.

 

Also Read | Future of Cryptocurrency

 

Watch this: Future Talk: Blockchain & Travel

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There were numerous events and offerings regarding crypto tourism prior to the COVID-19 outbreak.

 

Cryptocurrency cruises attempt to connect people with like-minded people in the business while also promoting various crypto services. These programs aid in the formation of crypto-community networks and provide investment opportunities. 

 

As a result, participants have a better chance of making important financial decisions. Many nations are opening their borders, allowing tourism to resume in full force, allowing cryptocurrencies to become a more generally accepted payment option in the near future.