Blockchain, Cryptocurrencies and Vacation Rentals: The Path to Decentralisation
Blockchain and cryptocurrencies have the potential to transform the vacation rental industry. New generation listing sites already use these technologies to give property managers control over their digital assets, increase the security of payments, improve loyalty programs, and more. Here is how blockchain will lead the way towards the decentralization of the vacation rental market.
We often hear about the potential of blockchain technology to disrupt a variety of industries, from banking and cybersecurity to supply chains and everything in between.
But what does blockchain have to do with vacation rentals?
Blockchain is already being used in the vacation rental industry to build decentralized platforms that:
- address some of the market’s biggest challenges and
- provide an alternative to traditional online travel agencies.
As these projects grow, blockchain will inevitably have an impact on the way we book, market, and manage vacation rentals.
In this blog post, we’ll sum up what we learned from them about the future of blockchain in the short-term rental industry and the role that their respective projects will play in it.
But first, let’s take a moment to discuss what blockchain is in the first place.