Tourism is a highly profitable industry. According to data for 2020, its share of world GDP was about 5.5%, that is, every 20 cents per dollar is spent in the tourism sector. And it’s no surprise that this industry is of great interest for blockchain which is revolutionizing all traditional sectors.
The distribution of services designed to provide vacationers with everything they need is based on intermediaries’ involvement, whose role is played by travel agencies or aggregator companies. Their field of activity is transportation, accommodation of tourists, meals, sightseeing services, search, and provision of up-to-date information.
Intermediaries do not work for free, and their services increase the cost of rest. Traditional ways of reducing tourists’ spending, such as reducing the share of intermediaries in the final cost of a tourist service or product, or increasing the level of trust between counterparties – do not work too well today, having exhausted their capabilities.
But...
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