© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2023
D. DuziakBlockchain for Hospitality and Tourismhttps://doi.org/10.1007/978-1-4842-9636-3_1

1. The Blockchain Promise

Dominika Duziak1  
(1)
Dubai, United Arab Emirates
 

By now, you have probably heard of blockchain. People say it’s one of the new, most innovative technologies, but it’s not new. In fact, it was developed nearly 15 years ago.

Bitcoin, the most famous cryptocurrency with the highest market capitalization (as of the time of writing), was the first practical application of blockchain. Created in 2008 by the mysterious Satoshi Nakamoto, Bitcoin was designed to disrupt and reshape financial institutions.1 It’s no coincidence that Bitcoin was brought ...

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