Web3 Applications in the Tourism Industry

2.1 Cryptocurrency and Web3 Integration in Tourism

Blockchain technology gained public attention starting in 2016 and reached a pivotal point in 2017. By 2023, the Web3 economy, catalyzed by blockchain, is progressively providing more advanced and convenient services to the public. The era of Web3 empowering the real economy has arrived, with blockchain technology better serving market entities.

In the tourism sector, luxury hotels, resorts, and luxury goods merchants are increasingly accepting cryptocurrency payments, a significant shift:

Expedia

Expedia has supported Bitcoin payments since 2014, allowing customers to book hotels using Bitcoin through Expedia. All Bitcoin transactions through Expedia are processed by Coinbase.

Pavilions Hotels & Resorts

This resort brand partners with the UK-based cryptocurrency payment gateway Coindirect to accept payments in cryptocurrencies. Customers can use Bitcoin, Ethereum, and 40 other popular virtual currencies to pay for stays at Pavilions hotels across Europe and Asia.

Travala.com

Users can pay for bookings at over 2.2 million global hotels, flights, tours, and activities on Travala.com using various cryptocurrencies including TRX, USDD, BNB, BTC, and others.

Innovation Corp

With approximately 50,000 hotels in South Korea, Innovation Corp allows direct booking of accommodations like hotels and motels via its website. It collaborates with Bithumb exchange, supporting payments in 12 cryptocurrencies including Bitcoin.

Kessler Collection

This U.S.-based luxury hotel chain supports bookings using cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, and Dogecoin through BitPay. Kessler Collection hotels send email invoices that guests can pay directly using their BitPay wallets.

Increasingly, more businesses globally, particularly luxury hotels and luxury goods merchants, are accepting cryptocurrencies. This revolutionary trend is spreading worldwide as cryptocurrencies break down barriers in high-end customized travel payment processes, traditionally constrained by currency and payment system differences. High-net-worth travelers can effortlessly pay for various travel services such as flights, hotels, and car rentals using cryptocurrencies, eliminating concerns about exchange rate fluctuations and fees, significantly enhancing payment flexibility and efficiency. Additionally, the immutability of blockchain technology and encryption technology's security ensure transaction authenticity and safety, reducing payment fraud risks.

Despite cryptocurrency price volatility, all evidence suggests a future where a cashless society using digital currencies will emerge, with cryptocurrency technology at the forefront.