Statistic has shown a big drop in tourism with some regions projecting huge loss of revenue. The Tourism Industry is one of the hardest affected industries with scenic spots reported nearly no visitors.
As China slowly eases their lockdown restrictions and life started returning to somewhat normal conditions, residents have once again started travelling during the first weekend right after restrictions were lifted.
From the Century Park in Shanghai to scenic Huangshan Mountain park in the eastern Anhui province and Red River Valley in Shaanxi province, major landmarks across the country welcomed thousands of visitors over the weekend. With the virus contained in China, many of the country's most famous tourist attractions are slowly reopening.
The recovery of tourism industry requires a balance between a new post-COVID-19 development strategy and the pent-up desires on travelling.
The Chinese government has launched many documents to support the wake of cultural and tourism businesses. Recently, the Jiangxi Provincial Department of Culture and Tourism and China Mobile Communications Group signed a strategic cooperation agreement to jointly build Jiangxi "Smart Cultural Tourism". The travel industry comes with proper resources to integrate new solutions and technologies that can evaluate the growth process, like 5G, big data, cloud computing, artificial intelligence, blockchain and other information technologies.
The blockchain technology offers the travel industry advantages which will solve common issues for travelers such as enabling trusted services and cost reductions in fees.
Digitalization of the tourism industry
The travel industry contains a long chain of middlemen, which can cause information lags, delays, and financial losses as a result. The blockchain technology can solve this problem by closing the “gaps” made by different payment systems.
With blockchain's decentralized system, its secure nature and immutable real-time ledger, it creates trust between all parties involved. Blockchain can digitize travel agency identities by way of chaining travel agency business licenses and Online Travel Agency (OTA) products, and thus develop a higher level of travel security for transaction and purchases.
On the consumer side, this technology can protect a traveler’s personal and financial information during their registration, account’s top up and other transactions. In addition, service providers engage in direct contact without the use of third parties when implementing blockchain into travel booking and scheduling systems.
Optimize the travel experience
The blockchain technology and cryptocurrency can expedite and make the traveler’s experience more comfortable. For example, blockchain can be used to record and verify the identity of tourists, track the purchase records to prevent vicious sales in scenic spots, and can also be engaged in monitoring the life cycle of souvenirs. Blockchain can also be integrated into complaint inspection and supervision platform to handle complaints more conveniently.
On July 20, 2019, at the "Digital Yunnan" Blockchain International Forum, the "Yunnan Travel" platform issued the country's first blockchain electronic invoice. A small invoice features distributed storage, leaving traces throughout the process, and cannot be tampered. It not only has the same effect as the current invoice but it’s much safer and easier method to store electronic data, allowing tourists to be more convenient and worry-free.
Implementing blockchain into travel systems is one of the essential ways to help with cultural and tourism during the epidemic. On March 20, Guangdong issued a paper to encourage enterprises to make full use of the Internet of Things (IoT), big data, cloud computing, artificial intelligence, blockchain and 5G to foster digital cultural blogs, online travel, and online competitions.
Industry experts see the great potential of the IoT, big data and blockchain technology for improving business processes.
Although the blockchain technology is not being well-known in the tourism industry, it has its place in future travel development. Overall, people should have the right to enjoy travelling without any worries. We hope that by the year 2021 or 2022, tourists will be able to use blockchain in their travel processes, allowing them to travel with ease.
(Adapted from the Internet)