3 breakthrough applications of blockchain in the hotel industry

The emergence of blockchain technology promises to bring unprecedented breakthroughs in the operation of businesses. And the hotel industry is no exception. In this article, we will look at the 3 most potential applications of blockchain for hotels.

3 applications of Blockchain in the hotel service industry

The operation of the hotel industry often involves many different parties, creating many complex procedures. Because the blockchain is an encrypted "bookkeeping" system, which is almost completely secure, it eliminates intermediaries in transactions and ensures the validity of the data entered.

3 main applications of blockchain in the hospitality industry are: Loyalty Management Program, Customer Insights Analysis and Supply Chain Management.

Loyalty management program

A special feature of the hospitality industry is that retaining a loyal customer will bring higher profits than attracting a new customer. Studies have also concluded that hotels that focus on loyalty programs are more successful than their competitors.

However, in the hospitality industry today, loyalty programs tend to be limited to certain businesses, so they do not provide long-term value. Large tourism service businesses can cooperate with other partners when implementing loyalty programs to expand channels to create and redeem points for customers. However, there are still restrictions on how users can use their accumulated points on real benefits in case they are not a regular customer.

Blockchain can address the limitations of single loyalty programs by creating a platform that enables multi-brand collaboration. The blockchain system provides instant access and real-time updates, supporting tracking of customer activities and purchases. It also helps to shorten and simplify the establishment of partnerships between businesses and the implementation of a system of rules and scoring processes.

Imagine a system where customers can collect and use points at different vendors in real time. The rewards for loyal customers will be more practical and applied to a wider network of partners, including the benefits from the service providers they regularly trade.

Blockchain supports smart ledger technology and smart contracts to ensure transparency and enhance flexibility when exchanging points with partners / businesses that participate in the platform. Blockchains can also make gifting of points to friends or family members a reality, allowing loyalty programs to be more flexible and customer-friendly.

Insight on customers and digital IDs

In the hospitality industry, one of the best ways to attract customers is to provide great customer service and experiences. A great customer experience is a personalized travel experience , when businesses understand the needs and wants of customers at every stage of the journey and develop a strategy across multiple channels.

By integrating the functionality of IoT with blockchain technology, hospitality businesses can enhance the guest experience and thereby make them the heart of the business. Advanced technologies such as Big Data and data analytics help businesses further analyze customer behavior and gain insights on customers to apply to personalized advertising, conveying information. smart message.

In fact, blockchain may be the future of technology Lock Smart (Hotel Digital Key). When a customer arrives, they can check-in at the hotel's automatic counter. This automated counter can check pre-booked rooms, synchronize with a user's phone via OTP, and connect the customer's device to the hotel's system. The check-in process is completed with support from the blockchain platform: guests can select a room based on their preferences, then activate the smart lock via the hotel's application - Door Lock / Unlock just by a touch on the smartphone.

Blockchain database applications are not limited to hotel services. For example, thanks to the security of blockchain, businesses can record and combine data from loyalty programs and customers' shopping behavior, thereby creating an individual identity map. , improve marketing and service personalization.

Supply chain management

When applied to Supply Chain Management (SCM) for hotels, blockchain can be applied to three main areas: Supplier Management, Warehouse Management and Payment Management.

For effective Supplier Management, it is necessary to continuously monitor the information of all suppliers / vendors in the market. Specifically, supplier data, background inspection data and quality control data for old orders, are important details to help distinguish suppliers and choose the most suitable suppliers. for Business. A solution developed on the blockchain can ensure a secure, tight database on a distributed system so that businesses can make decisions based on reliable and verified data. .

A blockchain-based solution also supports Warehouse Management for hotel chains with the ability to control the complexity of backing up data at multiple contacts to be handled by the streaming systems in time. real time. If all parties of the supply chain are involved in the blockchain system, the supply cycle - from the production stage to the transport process is always clear and easily accessible for tracking and inspection. An integrated supply chain management system will contain all transactions at all stages, while ensuring transparency in the details of products. Finally, smart contractsOn the blockchain, it is possible to automatically verify business rules related to both orders and payment periods for each order. For the ordering cycle, smart contracts help businesses ensure the lowest price for a particular item from all participating suppliers. During the payment cycle, the smart contract ensures that the payment process is carried out accurately and automatically after the order arrives and has been verified for verification.

Contact information

EG VIET NAM TRADING SERVICES COMPANY LIMITED

Address: 22 Quach Vu Street, Hiep Tan Ward, Tân Phu Distrist, HCM City

Phone: (+84)86 705 74 79

Hotline: (+84)86 707 74 79

Email: info@egvietnam.com

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