One of the greatest technologies that were invented recently is Blockchain. Through the power of blockchain, many businesses have found better ways to make a transaction and store and utilize any kind of information in particular. For the hospitality industry, blockchain technology has been proved no less than a wonder.
For the people who don’t have much knowledge about blockchain, it is a technology in which records are maintained digitally, permanently, and anonymously. Cryptography or high-security encryption is applied to the records (blocks) and saved. In the blockchain, data can not be changed or edited. That means, no modifications allowed.
One can not simply modify, alter, or manipulate the information stored in blockchain because it is a decentralized system. That means, one instance of data is stored in a number of places. It is not hidden, it’s transparent. And any changes to the record are shared over a network. It improves security and makes the data less prone to failure.
In the hotel industry, security is always a top concern. While the security of data is absolutely ensured in blockchain, it becomes an essential technology for the hospitality industry. Hotels can accept digital currencies for transaction process without worrying about security.
Another use of blockchain in the hospitality industry is Identity verification. Hotels are the places where strangers appear the most. For the security of its assets and other passengers, it becomes utterly important to identify a visitor’s details flawlessly. With the blockchain, the identification process through fingerprint or bar code becomes easy.
AI for the Hospitality Industry
In the hospitality industry delivering a visitor, in-person customer service holds a shining significance. During the past few years, we have witnessed that AI-powered robots and other intelligent machines are being developed on a large scale that possesses abilities to interact with humans.
Another application of artificial intelligence we have seen in the hospitality industry is using messaging platforms that are powered by semi or fully-automated, human interaction software called chat-bots. These bots are specifically designed to understand the queries of a customer and provide an appropriate response.
Without any doubts, it is utterly tough to completely understand the smalls and bigs of the blockchain technology in the first instance. At the start, it may seem fearful, but as you begin to get more and more familiar to it, the grasping of basics and the different ways to use it for hospitality and other industry will become easier for you.