Potential of the Crypto Economy in Financial Management and Fundraising for Tourism

Juan F. Prados-Castillo (), Miguel Ángel Solano-Sánchez, Pilar Guaita Fernández and José Manuel Guaita Martínez
Additional contact information
Juan F. Prados-Castillo: Marketing and Market Research Department, Melilla Campus, Universidad of Granada, 52005 Melilla, Spain
Miguel Ángel Solano-Sánchez: Department of Applied Economics, Faculty of Social and Legal Sciences, Melilla Campus, University of Granada, 52005 Melilla, Spain
Pilar Guaita Fernández: Department of International and Spanish Economics, University of Granada, 18071 Granada, Spain
José Manuel Guaita Martínez: Department of Economics and Social Sciences, Universitat Politècnica de València, 46022 València, Spain

Sustainability, 2023, vol. 15, issue 6, 1-15

Abstract: This study aims to examine the potential of blockchain technology in the financing and financial management of entrepreneurial tourism projects. It highlights two objectives: how the technology can be used as an alternative financing tool and how it can improve efficiency and transparency in the financial management of tourism companies. This study shows that initial coin offerings are an effective way to finance innovative tourism projects and that blockchain technology can improve the competitiveness and efficiency of tourism companies. Due to the lack of empirical data on the actual implementation and impact of blockchain technology in the tourism industry, it is suggested that further research is needed to examine the practical application of blockchain technology in the tourism industry, its potential impact on tourism businesses and its implications for the regulatory framework. The proposed methodology includes a systematic literature review on the application of blockchain technology for the financing of tourism projects and the financial improvement of tourism business models. The results indicate that blockchain technology has the potential to transform the financing and financial management of the tourism industry and improve its efficiency and transparency. Furthermore, combining blockchain with other technologies can provide additional benefits in supply chain management and event automation.

Keywords: blockchain; Bitcoin; financing; cryptocurrency; cost efficiency; bibliometric analysis (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/6/4978/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/6/4978/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:6:p:4978-:d:1094044

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().