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Digital transformation in tourism Digital

transformation
and hospitality industry: in tourism-
hospitality
a literature review of blockchain,
financial technology, and
knowledge management Received 20 April 2023
Revised 21 July 2023
2 September 2023
Silvia Ratna Accepted 26 September 2023
Department of Informatics Engineering and Department of Information Systems,
Faculty of Information Technology,
Universitas Islam Kalimantan Muhammad Arsyad Al Banjari Banjarmasin
(UNISKA MAB), Banjarmasin, Indonesia
Saide Saide
Department of Information Systems, Faculty of Science and Technology,
State Islamic University of Sultan Syarif Kasim Riau (Universitas Islam Negeri Sultan
Syarif Kasim Riau - UIN SUSKA Riau), Indonesia, Lembaga Enreach UIN SUSKA
Riau, Pekanbaru, Indonesia and PRO Knowledge Indonesia, Pekanbaru, Indonesia
Afifah Mesha Putri
PRO Knowledge Indonesia, Pekanbaru and Department of Information Systems,
Faculty of Science and Technology, State Islamic University of Sultan Syarif Kasim
Riau (Universitas Islam Negeri Sultan Syarif Kasim Riau - UIN SUSKA Riau),
Pekanbaru, Indonesia
Richardus Eko Indrajit
Pradita University, Jakara, Indonesia and ABFI Institute Perbanas,
Jakarta, Indonesia, and
Didi Muwardi
Department of Agribusiness, Riau University, Pekanbaru, Indonesia
Abstract
Purpose – This study aims to provide a new overview and opportunities of blockchain (BCT), financial
technology (fintech) and knowledge management (KM) over the past ten years. Its focus is on their potential to
drive new value creation and innovation processes within the digital landscape of the tourism and hospitality.
Design/methodology/approach – This systematic literature review and sociotechnical approach employs a
literature analysis, analyzing and synthesizing 62 relevant articles published in the past decade form
e-databases (Web of Science and Scopus).
Findings – This study reveals that researchers frequently discuss the potential advantages and challenges of BCT,
fintech and KM in this industry. These include establishing systems that prioritize transparency and traceability,
addressing blockchain security concerns, enhancing financial transaction efficiency and trustworthiness,
and promoting innovation and improvement through KM strategies. Furthermore, this review suggests that
the application of blockchain, fintech and KM has the potential to create new markets and opportunities in
the tourism and hospitality industry. This study provides insights into the state and implementation of
technology-based and knowledge-based for tourism and hospitality in times of crisis and digitization era.
Practical implications – Shifting to new lens (refers to sociotechnical theory), from technology adoption
strategy, it is important to stay updated with emerging technologies such as BCT and fintech and upcoming
technologies trends must align with tourism and hospitality business objectives, customer expectations and
market demands. From the socio-dimension, KM is not confined to technological tools alone. Instead, it is a EuroMed Journal of Business
© Emerald Publishing Limited
strategic approach that emphasizes fostering a culture of open communication, collaboration and knowledge 1450-2194
sharing within the team of tourism and hospitality industry. DOI 10.1108/EMJB-04-2023-0118
EMJB Originality/value – Through a literature review approach, this study establishes a new foundation in tourism
and hospitality such as analyzing research gaps, understanding benefits and challenges, supporting
methodologies/theoretical frameworks and informing the future research opportunities. Additionally, a novel
contribution is the inclusion of sociotechnical approach that is allocated into socio or knowledge resources
perspective (knowledge management), and technical or technology perspective (blockchain and fintech) that
drives tourism and hospitality innovation.
Keywords Tourism and hospitality, Blockchain, Knowledge management, Financial technology,
Sociotechnical, Literature review
Paper type Literature review

1. Introduction
The tourism and hospitality industry has always been a significant contributor to global
economies, increasing over the years. The industry is expected to sustain its growth, as the global
tourism and hospitality market is projected to reach $11.4 trillion by 2028, a notable increase from
$8.8 trillion in 2019 (Hogenson Bray and Rugh, 2020). As reported, the combined contribution of
the tourism and hospitality industry to the growth until the decline due to COVID-19 annual GDP
is very large (Osborne, 2023). However, crises such as the COVID-19 pandemic have had a
significant and unprecedented impact on the global tourism and hospitality industry. This
impact encompasses factors such as travel restrictions, border closures, the emergence of virtual
tourism and hospitality, a gradual recovery trajectory and an uncertain future. Emerging
technologies such as blockchain (BCT) and fintech, along with management strategies like
knowledge management (KM), have the potential to generate comprehensive benefits within the
tourism and hospitality sector. Blockchain-based and fintech payment solutions can automate
and expedite booking, check-in and payment processes, thereby reducing friction and enhancing
convenience for travelers (Dadkhah et al., 2022; Zhou et al., 2022).
Blockchain and financial systems services ensures secure and tamper-proof transactions
(Dadkhah et al., 2022; Wu et al., 2021), while fintech solutions have the capacity to enhance
payment systems, automate processes, improve customer experience and promote financial
inclusion (Bulut, 2022; Tham and Sigala, 2020). Despite the potential benefits of these
technologies, there is a need for a comprehensive review of their advantages and adoptions in
the tourism and hospitality industry. On the other hand, adopting KM solutions in the tourism
and hospitality industry can improve decision-making, innovation and efficiency (Rastegar and
Ruhanen, 2021). KM strategy can personalize offerings based on customer preferences, ensuring
a tailored and memorable experience (Rastegar and Ruhanen, 2021; Zhou et al., 2022). KM can
provide significant benefits to the tourism and hospitality, including improving the travel
experience, increasing efficiency, and helping organizations to adapt quickly in the event of
unexpected events such as natural disasters (Orchiston and Higham, 2016). Recent papers
related to KM in tourism and hospitality in prior studies such as (Jalilvand et al., 2019a, b; Kim
and Shim, 2018; Ochoa-Jim
enez et al., 2021). Due to the different complexity and characteristics of
an uncertain tourism and hospitality environment in the future, a new approach is required.
However, previous studies of tourism and hospitality mostly focus on the customer
experience (Neirotti et al., 2016), online booking (Hwang et al., 2018), mobile tourism (Liang et al.,
2017), cultural destination (Garc
ıa-Almeida, 2019) and impact of pandemic (Ntounis et al., 2021);
emerging technologies such as blockchain and fintech (from technical side) and knowledge
strategy such as KM (from socio side) are still limited. Nonetheless, the shortcomings of IT
implementation are not primarily attributed to technological factors (only 7.5%); conversely,
93% of executives contend that the key hurdles stem from people and process-related issues
(Davenport and Randy, 2019). For example, during periods of crisis, a sociotechnical with both
technical and soft paradigm may help a firm’s business operations to recover (Beer, 1985;
Ivanov, 2022; Saide, 2021). The sociotechnical theory has two approaches to helping firms
survive in an uncertain business environment, the technology approach and socio approach
(Mumford, 2006). According to this study, a company needs avoid the failure that may result Digital
from focusing only on technology and systems without considering the socio/knowledge side. transformation
This indicates a research gap where the comprehensive examination of how these two
dimensions contribute to innovation remains relatively unexplored. We further estimate
in tourism-
there is still a very lack of recommended literature that focuses on technology-knowledge hospitality
standpoint of view. Moreover, less consideration for socio or social aspect to face the business
innovation in tourism and hospitality. As literature encourage scholars to make imperative
research by contributing to both the technological drivers (e.g. blockchain and fintech in this
study) and the social components (such a KM) in uncertain tourism and hospitality ecosystem
(Mumford, 2006; Sarker et al., 2019). On the other hand, while other methods offer focused
insights, a systematic literature review is particularly suited to synthesizing and analyzing
existing knowledge comprehensively. This approach aligns with the study’s objective of
establishing a robust knowledge foundation. Through systematic analysis, this approach
ensures a holistic exploration of the field, identifying trends, patterns and gaps, which is
crucial for guiding future research endeavors.
Additionally, this study intends to explore the main research questions (RQs):
RQ1. What are the roles of BCT, fintech and KM in the field of tourism and hospitality for
the period 2012 2022?
RQ2. What are the advantages and challenges of BCT, fintech and KM in tourism and
hospitality?
Additionally, how the dual perspective of sociotechnical (socio: KM, and technical: BCT and
fintech) as a foundation for tourism and hospitality innovation? In the context of tourism and
hospitality innovation, referring to the sociotechnical theory/approach brings forth two
pivotal components: technological tools and the soft-skills or expertise of users (Mumford,
2006; Sarker et al., 2019). In the realm of the tourism and hospitality industry, the socio-
technical approach allows us to delve into KM from a socio/soft standpoint, while also
addressing blockchain and fintech from a technical/hard angle that potentially enable
innovation and digital transformation in tourism and hospitality practices and research.
The first side, technical approach; in the current era of digitalizing business routines, the
emerging information systems such blockchain and fintech and their features enhance
tourism and hospitality business transactions, values and advantages. Specifically,
blockchain nature enables secure transactions, enhances data privacy and streamlines
processes. For instance, blockchain facilitates secure booking transactions, verifiable guest
identities and transparent supply chain traceability (Thees et al., 2020). On the other hand,
fintech innovations are revolutionizing financial processes in tourism and hospitality. Digital
payment systems, tailored financial services and automated billing processes are enhancing
customer experiences and reducing friction in transactions (Senyo et al., 2022). Through
Fintech, cross-border payments are becoming seamless, and real-time financial insights are
enabling businesses to adapt swiftly to changing market dynamics.
The second side, from socio approach, we provide a strategy in managing knowledge
resources through KM strategy. As founded by scholars, information systems/technology is
not the only tool to achieve business innovation, rather it should align with non-technical or
socio resources based (Mumford, 2006; Sarker et al., 2019). This study recognizes that KM in
tourism and hospitality is the convergence of social dimensions such as human expertise,
organizational culture and a spectrum of technologies. From a socio/soft approach, KM
entails fostering a culture of collaboration, open communication and learning. It involves
tapping into the tacit knowledge of employees, sharing insights and co-creating knowledge
repositories. For example, prior research has demonstrated that effective management of
EMJB knowledge capabilities is integral to an organization’s ability to attain business innovations
(Malik and Nilakant, 2016; Saide, 2020).
Over the past decade, there have been numerous publications on the technology and
management strategic that can impact the tourism and hospitality, including blockchain and
€
fintech (Erol et al., 2022; Onder and Gunter, 2022). There is still a lack of comprehensive studies
exploring the screening and analysis encompassing the advantages, challenges, opportunities
and overall collaborative benefits of these three strategic elements (blockchain, fintech and KM),
particularly utilizing a literature review method to explore both existing and future research
prospects. Therefore, this study presents an analysis of the three pivotal components
(blockchain, fintech and KM) within the context of tourism and hospitality. By using a literature
review and its approaches ensure that this study on the blockchain, fintech and KM in tourism
and hospitality are well-informed, contribute to the existing knowledge or theoretical base and
provide valuable insights for both industry and future research directions.
This study makes a number of contributions. First, it introduces the notion of sociotechnical
oriented as a unique approach for accomplishing reconfiguration of tourism and hospitality
innovation. In addition, it also distinguishes between socio and technical approach as two: socio
approach refers to KM while technical refers to blockchain and fintech. Second, blockchain and
fintech features (technical approach) also help firm and business process management. This
study therefore suggests firm executive level work hand in hand with technology team,
business department including KM side (socio approach) in designing innovation, which
will impact and contribute to the outcomes. We therefore recommend management level
more carefully in developing and implementing blockchain and fintech with KM strategy.
Third, this study highlighted and pointed out some theoretical or knowledge gap
implications or contributions. As we described above, since previous studies mostly focus on
individual level of technology dimension to support transactions activities in tourism and
hospitality, our study using sociotechnical approach explored more the emerging technology
functions (e.g. blockchain and fintech) and knowledge resources (such a KM) to drive tourism
and hospitality innovation. In the times of digital era, it is important for form of tourism and
hospitality to understand how the current technologies tools works with firm their business
process to obtain innovation and continuity. Fourth, on the other hand, to practically operate
the technologies tools/features (technical-approach only) and achieve maximum benefits,
knowledge strategy of firm is essential (socio- oriented) (Mumford, 2006; Sarker et al., 2019).
Otherwise, firms may allocate financial resources to technology tools in which they have
already invested, yielding marginal advantages in return.

2. Theoretical background
2.1 Sociotechnical concept
Drawing on the foundation of sociotechnical approach (Mumford, 2006; Sarker et al., 2019),
we delve deeper into the existing body of research that explores solutions for fostering digital
transformation innovation in the context of tourism and hospitality. It distinctly stands out for
its dual-pronged approach that seamlessly both socio and technical dimensions. The technical
dimension encapsulates processes, tasks and the transformative of technology from inputs to
outputs. On one side, the social dimension engrosses human attributes (such as attitudes,
knowledge, skills and values), interrelationships among individuals, mechanisms for recognition
and hierarchies of authority. This study, therefore, formulate the socio element (KM) and
technological tools (blockchain and fintech) are stands for tourism and hospitality innovation.

2.2 Blockchain technology (BCT) and hospitality-tourism industry

Blockchain is aptly situated within the technical spectrum of sociotechnical theory.
Blockchain, a decentralized and tamper-proof digital ledger, revolutionizes transparency,
security and traceability. In the context of tourism and hospitality, blockchain ensures the
integrity of transactions, securing guest identities and enhancing supply chain transparency. Digital
In hospitality and tourism, blockchain can be applied to various areas, such as customer transformation
loyalty programs, identity management and revenue management. The phenomenon of the
emergence of new technologies such as blockchain can be connected to the diffusion of
in tourism-
innovation and sociotechnical theory (Erol et al., 2022; Mumford, 2006; Sarker et al., 2019). The hospitality
theory of disruptive innovation suggests that smaller companies can compete with larger
corporations by introducing new technologies or business models that disrupt existing
markets or industries (Rashideh, 2020).
The application of BCT can be implemented with various other technologies, such as IoT
(Internet of things), big data, fintech, cloud computing, AI (artificial intelligence) and others.
This way creates more powerful and innovative solutions for various industries, including
tourism and hospitality. While BCT is still relatively new, many companies in the tourism and
hospitality industry have already begun to explore its potential applications. The application
of BCT is not limited to the tourism and hospitality as a whole, but can also be used in various
sub-sectors within the industry (Rana et al., 2022), food and beverage (Zhou et al., 2022) and
even medical tourism (Tyan et al., 2021).

2.3 Financial technology (fintech) and hospitality-tourism industry

Fintech, as a subset of financial innovations, harnesses technology to streamline financial
processes. Digital payment systems, automated billing and personalized financial services
exemplify its applications. From the technical perspective, fintech optimizes efficiency,
reduces friction and enhances guest experiences through innovative financial solutions. The
crisis such a COVID-19 pandemic has expedited the adoption of fintech, as both consumers
and businesses increasingly turned to digital financial services for remote financial
management. Lockdowns and social distancing measures rendered traditional face-to-face
banking services less accessible, prompting a considerable shift toward digital banking
solutions among many consumers.
Based on the fintech market summary report by Mondor Intelligence for the study period
2019–2028, Asia Pacific is the fastest growing market and North America is the largest
fintech market. Some platforms that offer this are PayPal, Traveloka, Agoda, LazyPay, Uplift
and others. Another product that is used not only in tourism and hospitality is e-wallet or
mobile wallet. Report by Thunes on Gen Z, almost 50% use mobile wallet and 25% who
hardly use cash payment in Western market (Thunes, 2022). By implementing these various
technologies, financial institutions can improve their operational efficiency, enhance the
customer experience and create new digital-based business opportunities.

2.4 Knowledge management (KM) and hospitality-tourism industry

In the tourism and hospitality sector, from standpoint of socio from socio-technical theory
underscores the significance of involving not only technological solutions but also human
expertise. KM is a field that deals with identifying, creating, organizing, storing, sharing and
using knowledge and information to improve business performance (Yiu and Law, 2014).
Tourism and hospitality rely heavily on data and technology to enhance customer service.
Socio-technical theory advocates for creating an environment where employees feel
empowered to share their knowledge, fostering a culture of collaboration and learning. For
example, in the airline industry, flight attendants and ground staff need to work together to
provide a seamless and enjoyable travel experience for passengers. Effective KM can help to
ensure that all employees have access to the latest information and best practices for
customer service, safety and other critical areas.
KM fosters collaboration and knowledge-sharing among employees, driving innovation
and competitive advantage, resulting in sustainable growth. In the hotel services as an
EMJB example, teamwork is crucial to deliver exceptional guest experiences. Effective collaboration
enables staff to address issues promptly. KM encompasses continuous training, fostering a
culture of continuous learning and improvement, critical for staying competitive in an ever-
changing industry. KM also enables collaboration and information-sharing with external
partners, supporting common goals and building relationships. Investing in tools and
processes for KM fosters a culture of collaboration, helping organizations respond efficiently
to unexpected challenges like natural disasters and pandemics.

3. Research methodology
This research employs the systematic literature review (SLR) method, a rigorous approach aimed
at providing a comprehensive overview of the diverse scientific evidence pertaining to BCT,
fintech and KM within the context of tourism and hospitality. This holistic overview is envisaged
to serve as a pivotal resource for companies seeking informed decision-making and innovation.
Furthermore, it holds substantial value for future researchers, illuminating unexplored research
gaps within the domains associated with this study. The process encompasses the selection,
categorization and analysis of articles pertaining to the discussed topic (Rana et al., 2022).
The review process is meticulously conducted in a systematic and structured manner,
aiming to discern scientific contributions pertinent to specific topics within prior research. The
procedural guidelines adopted in this study are derived from (Chintalapati and Pandey, 2022;
Dadkhah et al., 2022; Zamani et al., 2022). In this study, we divided the research into three
phases: planning, conducting and documenting. The use of SLR in this study is an appropriate
method for conducting a comprehensive and unbiased review of the related literature.

3.1 Planning
During the planning phase of the systematic literature review (SLR), the initial step involves
identifying the research topic and formulating a concise, focused research question. This
research question will serve as a compass for the exploration of pertinent literature and the
subsequent curation of studies to be encompassed within the review. The research questions
and an overview of the research are delineated in Table 1 and Figure 2. An illustrative
depiction of the protocol for the SLR process is presented below in Figure 1.

3.2 Conducting
In the screening phase, the articles are selected based on predefined inclusion and exclusion
criteria. The scope of topics for this study is related to BCT, fintech and KM in the tourism and

RQ1 What is the role of BCT, fintech and KM in the field of tourism and hospitality for the 2012–2022?
RQ1.1 Number of articles published are related to the role of BCT, fintech and KM in the field of tourism and
hospitality for the period 2012–2022?
RQ1.2 In the tourism and hospitality industry, what is BCT, fintech and KM applied to?
RQ1.3 What countries are the objects of research on the topic of applying BCT, fintech and KM to the fields of
tourism and hospitality?
RQ1.4 What journals publish articles related to the application of BCT, fintech and KM to the field of tourism
and hospitality?
RQ1.5 What countries are the objects of research on the topic of applying BCT, fintech and KM to the fields of
tourism and hospitality?
RQ1.6 What theories are often used in research on the application of BCT, fintech and KM to the field of
tourism and hospitality?
RQ2 What are the advantages and challenges of applying BCT, fintech and KM to the tourism and
Table 1. hospitality?
Research questions Source(s): Table created by author
 Article Selection Digital
Search syntax (Title (“Blockhchain”) AND Title (“Tourism”) AND Title
(“Hospitality”)), (Title (“Blockhchain”) AND Title (“Tourism”) OR Title
transformation
(“Hospitality”)), (Title (“FinTech”) AND Title (“Tourism”) AND Title
(“Hospitality”)), (Title (“FinTech”) AND Title (“Tourism”) OR Title
in tourism-
(“Hospitality”)), (Title (“Knowledge Management”) AND Title
(“Tourism”) AND Title (“Hospitality”)). (Title (“Knowledge hospitality
Management”) AND Title (“Tourism”) OR Title (“Hospitality”))

Planning
Criteria:
N = 179 articles from 1. Published from Januari 2012 to Dec 2022
2. Published in English
Scopus and Web of
Science

Systematic Literature Screening of articles indexed

Conducting Q1 and Q1 as well as SSCI N = 69 articles
Review
and SCIE
Criteria:
1. Duplicate article
Screening articles based on
N = 65 articles
abstracts
Documenting

Screening based on
full text analysist
Primary Study
N = 62 articles
Source(s): Figure created by author
Criteria:
1. Focused on blockchain technlogi, financial
technlogi and knowledge management in tourism
and hospitality
Figure 1.
Protocol for systematic
literature review

Figure 2.
Research topics from
year to year
EMJB hospitality industry. Previous studies on this topic have addressed different aspects of these
variables. Some studies have focused on BCT (Filimonau and Naumova, 2020; Sharma et al.,
2021) while others have focused on fintech (Anand et al., 2022; Yiu and Law, 2014) and KM
(Anand et al., 2022; Yiu and Law, 2014). Some previous researchers addressed this issue
mostly with mutually exclusive variables such as blockchain (Wu et al., 2021), related to
fintech and (Anand et al., 2022; Yiu and Law, 2014) KM. It is important to note that some
studies have addressed the fintech and BCT, as in this case (Bulut, 2022).
Using Web of Science and Scopus databases and the predefined search keywords, the
screening process was conducted to identify relevant articles published from January 2012 to
December 2022 and written in English. The selection of publications between these years is due
to the year of publication of variables to different publics. In Figure 1, KM is the first variable
available from 2012 while the other two only appear in the middle of the diagram. The ten-year
time frame mentions the benefits, challenges and opportunities from before the widespread use
of fintech and BCT in tourism and hospitality. The results are in different conditions. Meanwhile,
BCT and fintech started from their growth to rapid development due to the pandemic. The
search for the articles was conducted from October 20 to 27, 2022. Web of Science and Scopus are
two of the most widely used academic databases, covering a vast range of peer-reviewed
journals, conference proceedings and books. By utilizing these databases, the review ensures
that the selected articles are of high quality and have undergone a rigorous peer-review process.
The results from the Scopus database yielded 112 articles and Web of Science (WOS) there
are 67 articles. With syntax in WOS (Title (“Blockchain”) AND Title (“Tourism”) AND Title
(“Hospitality”)) 3 articles, (Title (“Blockchain”) AND Title (“Tourism”) OR Title
(“Hospitality”)) 26 articles, (Title (“FinTech”) AND Title (“Tourism”) AND
Title (“Hospitality”)) 0 articles, (Title (“FinTech”) AND Title (“Tourism”) OR Title
(“Hospitality”)) 1 article, (Title (“Knowledge Management”) AND Title (“Tourism”) AND
Title (“Hospitality”)) 1 article and (Title (“Knowledge Management”) AND Title (“Tourism”)
OR Title (“Hospitality”)). For Scopus syntax OR there are 6 articles while AND is 106 articles.
Additionally, the articles were re-filtered using criteria that included a minimum Q2 index,
categorization within the Science Citation Index Expanded (SCIE) and Social Sciences
Citation Index (SSCI). An assessment was conducted employing tools such as Scimago
Journal Rank (SJR) and Clarivate Analytics, ultimately yielding a total of 69 articles. Further
elimination occurred based on abstracts and the identification of duplicate files. To ensure
specificity and relevance, an analysis was also performed on full-text content to identify
primary studies for review. During the article acquisition process, we engaged various
publisher platforms, including Elsevier, Springer, Emerald, Taylor Francis, Sage and Wiley.

3.3 Documenting
Documenting is the final stage in research process and it involves analyzing and processing
the data collected during the primary study to generate understandable information related
to the research topic. This stage also involves reviewing the results to ensure that they are
consistent with the research questions and objectives.

4. Research questions and research overview

Based on what will be analyzed on topics in the tourism and hospitality related to three main
variables, namely blockchain, fintech and KM, research questions appear as follows (Table 1):
By exploring the role of BCT, fintech and KM in the tourism and hospitality over the past
decade, the study can provide insights into how these innovations have transformed the
industry and identify the benefits and challenges associated with their adoption. BCT is a
disruptive innovation that has the potential to revolutionize the tourism and hospitality by
enhancing security and transparency in transactions and improving the management and
 €
sharing of customer data (Ochoa-Jim
enez et al., 2021; Onder and Gunter, 2022). Fintech, on the Digital
other hand, is a broad category of technology that encompasses a range of financial services, transformation
including payment processing, lending and investment management. The study could
explore how fintech has impacted the tourism and hospitality by improving payment
in tourism-
processes and reducing transaction costs. hospitality
Over the years, various research topics have exhibited different trends within the scope of
tourism and hospitality, such as KM, BCT and fintech. The following is research overview of
topics summary that have emerged each year within each subtopic (see Figure 2). This analysis
is based on primary studies that have undergone thorough screening until the finalization stage.

5. Research themes
This study utilized three main variables that were analyzed from the perspective of tourism
and hospitality. The variables are BCT, fintech and KM. In Table 2, each sub-variable is
presented.

Main theme Sub-theme Corresponding literature

Blockchain Cryptocurrencies Chang et al. (2022), Tham and Sigala (2020), Rashideh (2020),
Wei et al. (2020), Nam et al. (2021), Balasubramanian et al.
€
(2022), Rana et al. (2022), Dadkhah et al. (2022), Onder and
Gunter (2022)
Blockchain Platform Erol et al. (2022), Chang et al. (2022), Kwok and Koh (2019),
Tham and Sigala (2020), Rashideh (2020), Valeri and Baggio
(2021), Sharma et al. (2021), Baralla et al. (2021), Zhang et al.
(2021), Aghaei et al. (2021), Parekh et al. (2021),
Balasubramanian et al. (2022), Zhou et al. (2022)
Blockchain-based Tyan et al. (2020)
cryptocurrencies
Blockchain Transactions Tham and Sigala (2020)
Financial Smart Tourism Platform Luo and Zhou (2021)
technology Bitcoin Luo and Zhou (2021), Zhang et al. (2021), Qin (2022), Rana
€
et al. (2022), Dadkhah et al. (2022), Onder and Gunter (2022),
Tham and Sigala (2020)
Digital Payment €
Balasubramanian et al. (2022), Onder and Gunter (2022),
Erol et al. (2022), Nuryyev et al. (2020), Wu et al. (2021)
Digital Currencies Tham and Sigala (2020), Filimonau and Naumova (2020)
Knowledge Knowledge Transfer Mart
ınez-Mart
ınez et al. (2022), McTiernan et al. (2021),
management Thomas (2012), Okumus (2013), Yiu and Law (2014), Del
Chiappa and Baggio (2015), Czernek (2017), Makkonen et al.
(2018), Hardy et al. (2018), Raisi et al. (2020), Schmidt et al.
(2022), Anand et al. (2022), Liu et al. (2022), Valeri and Baggio
(2022)
Knowledge Sharing Idrees et al. (2018), Kim and Lee (2013), Sigala and Chalkiti
(2014), Yiu and Law (2014), Mart
ınez-Mart
ınez et al. (2015),
Del Chiappa and Baggio (2015), Kim and Shim (2018),
Jalilvand et al. (2019a, b), Ochoa-Jim
enez et al. (2021), Luu
(2021), Lim and Ok (2021), Rastegar and Ruhanen (2021),
Hon et al. (2022), Anand et al. (2022)
Knowledge Acquisition Thomas (2012), Czernek (2017), Del Vecchio et al. (2018a, b),
Knowledge Absorption Muniz et al. (2020), Valeri and Baggio (2022)
Customer Knowledge Table 2.
Management List of related topic
Knowledge Exchange variables and sub-
Source(s): Table created by author variables
EMJB Blockchain, fintech and KM are crucial for the tourism and hospitality industry. Blockchain
provides a foundation for blockchain applications, while fintech is associated with digital
payments. On one side, KM strategy facilitates knowledge transfer and management,
enabling organizations to improve operations, provide better customer service and stay
competitive. Adoption of these technologies and management strategic can benefit the
industry with enhanced operational efficiency and better customer experiences. The sub-
themes obtained are from a review of various scientific articles that are included in the
reference selection criteria. The results of 62 articles in total from the three variables mention
the sub-themes in the table above.
RQ1.1. How many articles are published related to the role of BCT, fintech and KM in
tourism and hospitality within 2012–2022?
Various countries are moving toward digitizing their economies, which is leading to the
emergence of new business models in sectors such as tourism and hospitality (Rana et al.,
2022). This has an impact in various sectors including tourism and hospitality. Therefore,
providing high-quality services is essential for successful competitive markets, and the
adoption of technologies like BCT, fintech and KM may help businesses in achieving
customers’ satisfaction (Jalilvand et al., 2019a, b). Figure 3 illustrates the publication of related
articles per year.
The surge in publications on blockchain in 2021, as highlighted by the graph, suggests
that there are 11 articles, which means there is still a relatively low level of understanding,
application and research on blockchain in the tourism and hospitality industry. This is
consistent with the observations made by Rana et al. (2022) that research in this field has been
limited. Similarly, the fact that there is only 1 article on fintech in 2021 and only a few articles
on KM over the past decade as indicated by Makkonen et al. (2018) that these topics have not
been extensively studied in the context of the tourism and hospitality industry.
RQ1.2. In the tourism and hospitality, what are blockchain, fintech and KM applied to?
Based on the literature review, there is evidence of the implementation of BT, fintech and KM
in various industries within the tourism and hospitality sector. The literature suggests that

Figure 3.
Article publications
per year
there are numerous opportunities for the implementation of BCT, fintech and KM with the Digital
potential to improve efficiency, enhance the customer experience and drive innovation. transformation
Figure 4 presents the research industry sectors involved.
Dominated by the scope of tourism in general by 60.6%, followed by hospitality, travel
in tourism-
and hospitality, medical tourism, food industry and cultural tourism industry. The problem of hospitality
tourism and hospitality has received a lot of attention in recent years, due to its very close
attachment to economic growth in a country (Rana et al., 2022). Not only that, travel and
hospitality also have a very important role (Luo and Zhou, 2021). This is reinforced by data
reported by the World Travel and Tourism Council, which travel, hotels and tourism
impacted as much as 8.9 trillion US dollars in 2019 in the United States. In fact, the impact is
also felt by various countries in the world including Indonesia. The application of
technologies of blockchain, fintech and KM also has the potential to improve the efficiency
and quality of hospitality services in medical, food industry and cultural (Filimonau and
Naumova, 2020). The applications of this schema may enhance the competitiveness of the
sector and improve the quality of services provided to tourists. For instance, through the KM
schema, the team’s knowledge proficiency, human expertise and interpersonal competencies
within the company hold equal significance in confronting uncertain business scenarios and
transitioning back to regular operations.
RQ1.3. What countries are the objects of research on the topic of applying blockchain,
fintech and KM to the fields of tourism and hospitality?
A diverse of countries have been studied in this paper. Table 3 shows list of countries divided
into groups of developed and developing countries. The categorizing process of developing
countries and developed countries is determined by their income from the categories by
WESP classifies (Annex, 2022). Countries with less than $1,046 GNI per capita are classified
as low-income countries, those with between $1,046 and $4095 as lower-middle-income
countries, those with between $4096 and $12,695 as upper-middle-income countries, and
those with income of more than $12,695 as high-income countries (Annex, 2022).
So far, most relevant case studies have taken place in China. The country has advanced
economically and is now considered a developed nation. In addition, countries like Australia,
Germany and Italy are often presented as examples or subjects of research in this field. It is
clear from the analysis that the number of developed countries substantially exceeds the
number of developing ones.

Figure 4.
Research industry
sector
EMJB Countries Blockchain Fintech KM

Developed countries
China 2 0 3
Australia 2 1 1
Austria 0 1 0
Denmark 0 1 0
Belgium 0 1 0
Canada 0 1 0
Finland 0 1 1
France 0 1 0
Germany 2 1 1
Ireland 0 1 0
Israel 0 1 0
Italy 1 1 3
Japan 0 1 1
Korea 1 1 2
New Zealand 0 1 1
Norway 0 1 0
Portugal 0 1 0
Spain 0 1 1
Nigerian 0 0 1
Sweden 0 1 0
Russia 0 0 1
Poland 0 0 1
Switzerland 0 1 0
Netherland 1 1 0
UK 1 1 0
Greek 0 0 1
US 0 1 0
Saudi Arabian 1 0 1
Developing countries
Romania 1 0 0
Iran 1 0 1
India 1 0 0
Argentina 1 0 0
Aruba 1 0 0
Barbados 1 0 0
Mexico 0 0 1
Brazil 0 0 1
Tasmania 0 0 1
Mauritius 1 0 0
Malta 1 0 0
Vietnam 0 0 1
Table 3. Puerto Rico 1 0 0
List of research case Vanuatu 1 0 0
study countries Source(s): Table created by author

RQ1.4. What journals related to the application of BCT, fintech and KM in tourism and
hospitality?
It is important that the journals cited in this article are included in the SSCI and SCIE
databases, hence journal rating is a critical part of the literature review process. The papers to
be reviewed are drawn from the journals shown in Figures 5 and 6, which shows a list of the
 Digital
transformation
in tourism-
hospitality

Figure 5.
List of top 10 journals
with the most total
citations

Figure 6.
Top 10 final articles
journals in review

top 10 journals by total citations and top 10 final articles journals that to be included in this
study for an in-depth review.
This study references seven publications from the journal Sustainability (Switzerland).
Subsequently, Tourism Management contributes seven articles, whereas Current Issues in
Tourism, the International Journal of Hospitality Management and the Journal of Sustainable
Tourism contribute 6, 4 and 6 articles, respectively.
EMJB RQ1.5. What methods or approaches are used in research on the application of BCT,
fintech and KM to the field of tourism and hospitality?
This section has discussed on the data collection methods applied by previous researchers on
BCT, fintech and KM (see Table 4).
Out of the total number of research articles, 35 were conducted using qualitative methods,
22 were published using quantitative methods, 4 were conducted using a systematic
literature review, while 2 articles were carried out using a mixed-method approach. Among
the 12 articles that employed a quantitative approach, questionnaires were the most
commonly utilized instrument for data collection. In contrast, narrative analysis and case
studies were employed in qualitative studies.
RQ1.6. What theories are used in research on the application of BCT, fintech and KM to
the field of tourism and hospitality?
This section presents a compilation of frequently employed theories in tourism and
hospitality research, categorized by the research variables (refer to Table 5).
RQ2. What are the advantages and challenges of applying BCM, fintech and KM to the
tourism and hospitality?
(1) Blockchain in tourism and hospitality

From the perspective of smart tourism, leveraging blockchain as a platform to connect

visitors with local attractions is regarded as a dependable solution for enhancing the
efficiency of vacation planning (Luo and Zhou, 2021). Smart tourism aims to improve and
develop the experience of a tourist by paying attention to the quality of resource management
and ensuring sustainability (Nam et al., 2021). With this concept, it is hoped that traditional
tourism and hospitality that does not use technology can be digitized. Many countries have
started investing with this technology, especially in developed countries. An example is
Europe, which started in 2017 worth 400 million US dollars investing its funds in blockchain
projects. It is estimated that in 2022 it will cost 3.5 billion US dollars (Valeri and Baggio, 2021).
Table 6 presents a comprehensive overview of the advantages and challenges associated
with the implementation of blockchain technology within the tourism and hospitality.

Methods N

Qualitative
Semi-structured interviewing 5
Descriptive 4
Interview 9
Conceptual 8
Narrative analysis/case study 9
Quantitative
Structural equation modeling 1
Descriptive statistic 1
Experiment 3
Quantitative content/sentiment analysis 3
Questionnaire 12
Empirical method 2
Table 4. Systematic literature review 4
Research methods and Mixed methods 2
data collection Source(s): Table created by author
Theory Details
Digital
transformation
Socio-cultural This theory emphasizes the relationship of human interaction with existing in tourism-
cultures, including human development. How the environment can affect such
development hospitality
Theory of disruptive This theory is a condition where an innovation introduced to the market
innovation through a new business model that creates new and non-commodity products
or services will disrupt and change the existing
Priori theory This theory belongs to the social sciences that provide a correct knowledge of
reality, and whose truth value can be validated regardless of experience
Diffusion of innovation This theory explains how, why and what is the spread of knowledge or new
theory technology in society
UTAUT and connectivism This theory emphasizes the importance of knowledge co-creation. As well as to
theory find out the impact of social networks in empowering others
Theory of adult learning This theory is about how employees have skills in learning knowledge and new
technologies in their organizations. More generally is the way adults learn in
society
Oligopoly theory This theory is characterized by some suppliers producing highly differentiated
goods (distinguished through advertising, marketing and so on). Each company
lowers its price and increases its output to control a larger market share. The
result is a market where prices are higher and output is lower than in more
competitive markets
Strategic management This theory involves analyzing the current business environment, formulating
theories strategies, selecting the most useful strategies for the company’s goals and
implementing the selected strategies so as to assist in making decisions
Hofstede’s culture theory This theory discusses a framework that is used to understand cultural
differences in different countries and to reflect on the way business is practiced
in different cultures. In other words, the framework is used to distinguish
between different national cultures, cultural dimensions and assess their impact
on business settings
Social capital theory This theory argues that social relations are resources that can lead to the
development and accumulation of human capital
Self-determination theory This theory explains how one’s expectation of the consequences of a given
(SDT) action affects their own motivation to carry it out
Network theory This theory is used to identify organizational networks that can create value to
the tourism sector as a knowledge movement. And highlighting the potential of
business networks and driving innovation within the company through KM to
achieve success in the tourism industry
Knowledge- based view This theory supports the literature review on knowledge-based hospitality
organizations. It describes the role of internal and external factors in tourism
companies in achieving competitive advantage
Planned-behavior theory This theory supports the analysis of individual relationships in organizations.
This analysis helps to find out the environmental benefits of tourism, human
resource management, tourist activities and CSR performance
Normal accident theory This theory is used to examine the development of KM processes regarding
(NAT) unexpected or unintentional crises and disasters as well as circumstances that Table 5.
are not within our control in the organization Previous research
Source(s): Table created by author theories

Notably, the most frequently cited advantage is the establishment of traceability and
transparency, which is referenced in 17 articles. The application of blockchain technology to
achieve traceability and transparency holds significant potential for the enhancement of the
tourism and hospitality industry. This technology facilitates improved transparency of
products and processes, thereby fostering more secure and reliable transactions. For
example, in the food industry, consumer concerns regarding product origin and quality have
EMJB Blockchain
Advantages N Challenges N

To have fair online reviews 9 Trustworthiness 9

Economic impacts 1 Consumer readiness and market maturity 10
Private, secure and efficient contracts or data storage 12 Lack of governmental support and 5
effective incentive programs
Easing foreign currency conversion 1 Blockchain security concerns 14
Lower overall operating cost 11 Lack of affordable finance 3
Ensuring benefits for local communities 3 Limited knowledge 7
Cryptocurrency-based reward system 1 The low transaction speed and high 5
energy consumption of blockchain
Help users set up travel planning 4 Concerns about its scalability 4
Can be transferable across particular hospitality 1 High cost of blockchain investment 1
businesses, but also across entire economic sectors
Traceability and transparency 17 Political issue 1
Table 6. No middlemen 8
Advantages and Immutability 5
challenges of Decentralized systems 6
blockchain Source(s): Table created by author

surged, rendering blockchain a valuable instrument in addressing these concerns (Baralla

et al., 2021). This can help to reduce transaction costs and increase efficiency, particularly for
small businesses that may not have the resources to compete with larger players in the
market (Valeri and Baggio, 2021). Therefore, one of the advantages is to help small businesses
engaged in tourism and hospitality (Nuryyev et al., 2020).
Blockchain presents a myriad of advantages for enterprises in the tourism and hospitality,
encompassing transparency, traceability, immutability, decentralized frameworks and smart
contracts. The strategic adoption of blockchain technology empowers businesses to optimize
their operations and cultivate customer trust, thereby fostering heightened profitability and
enhanced market competitiveness. Noteworthy is the utilization of unique private keys for
individual registered users within a blockchain ecosystem, a practice that safeguards the
integrity of the rating and review system by deterring manipulation or duplication (Tyan
et al., 2020). The immutability of transaction data in a blockchain system means that the data
cannot be changed or lost, which can help to improve data integrity and reduce the risk of
fraud or errors (Irannezhad and Mahadevan, 2021). This can be especially important where
data accuracy and reliability are critical for ensuring a positive customer experience.
However, there are several challenges and problems associated with implementing BCT in
the tourism and hospitality. Security concerns are cited in 14 articles as a major issue in the
development of blockchain systems. The decentralized nature of BCT, which allows for peer-
to-peer networking, can make it vulnerable to hack attacks or viruses (Nam et al., 2021).
(2) Fintech in tourism and hospitality
Fintech has become an increasingly important aspect of the financial services industry in
recent years, with its development having a significant impact on the broader economy (Wu
et al., 2021). Digital payments are expected to have a significant impact on the tourism and
hospitality as they offer numerous benefits, including convenience, speed and security. For
example, digital payments can be more convenient for customers, as they can be made using a
variety of devices and can be processed quickly and securely. In addition, the use of BCT can
help to enhance the security and transparency of digital payments in the tourism and
hospitality. By leveraging the decentralized, immutable nature of blockchain systems,
businesses can create more secure and reliable payment processes that can help to reduce the Digital
risk of fraud or other security incidents. Table 7 summarizes the advantages and challenges transformation
from the review of related articles.
Digitized payment methods hold the promise of optimizing transactions across various
in tourism-
sectors, extending beyond the domain of tourism and hospitality. Nevertheless, formidable hospitality
challenges loom. Foremost among these challenges is the prevalence of limited customer
familiarity and preparedness for novel technologies. A significant portion of customers may
exhibit an unfamiliarity with digital payment methods, resulting in a certain degree of
reluctance toward their adoption. This can be further compounded by concerns about
security and data privacy. Another major challenge is the lack of standardized regulations
and protocols around data security and e-money. Without clear guidelines in place,
companies may struggle to protect customer data and prevent fraud or other security
breaches.
(3) KM in tourism and hospitality
Knowledge transfer/sharing is crucial component of KM that can help organizations improve
their performance and competitiveness. Knowledge transfer processes can help
organizations identify, capture and transfer knowledge, improving internal organizational
problems and decision-making processes. Despite the growing interest in knowledge transfer
and sharing in the tourism and hospitality, there is still a lack of research on its application in
this sector (Thomas, 2012). In tourism and hospitality, managing diverse stakeholders such
as tourists, hotels, travel agencies and local communities is complex and requires effective
knowledge transfer. Sharing knowledge among tourism practitioners leads to innovative
ideas and best practices, enhancing the industry’s competitiveness and driving positive
outcomes for all stakeholders. Clear guidelines and procedures for knowledge sharing can
promote collaboration and information exchange in the tourism and hospitality, leading to
mutual benefits for all parties.
In Saudi Arabia, the use of knowledge transfer can address issues such as customer
satisfaction, employee training and operational efficiency in hotels. By sharing best practices,
organizations can improve their overall performance and contribute to the tourism and
hospitality. Ultimately, effective knowledge sharing and transfer can drive positive outcomes
for the industry and its stakeholders. The effective management of data and knowledge is
critical for companies in the tourism and hospitality to maintain their competitiveness and
sustainability. Optimizing knowledge resources such KM strategy can lead to several
benefits, including increased innovation and development, improved performance and
productivity, better decision-making, enhanced customer service and the development of
strategic plans (Del Vecchio et al., 2018a, b). Table 8 shows various advantages and problems/
challenges in the application of KM in the tourism and hospitality.
Optimizing KM can lead to various benefits for companies in the tourism and hospitality.
KM can also help companies in the tourism and hospitality to better prepare and respond to
unintentional crises, such as natural disasters, which can have a significant impact on
tourism and hospitality (Orchiston and Higham, 2016). By implementing KM practices,

Financial technology (fintech)

Advantages N Challenges N

Financial transaction capability 1 Trustworthiness 2 Table 7.

Digital money 1 Lack of security 1 Advantages and
Source(s): Table created by author challenges of fintech
EMJB Knowledge management (KM)
Advantages N Challenges N

Strengthen the absorptive capacity of tourism and hospitality businesses 2 Lack of knowledge and 8
skill
Provide an environmental interpretation of the sea-of-clouds phenomena 1 A lack of trust 8
that would add new value to the tour experience
Develop strategic plans for business 6 Individual personal 7
motivation
Innovation and Improvement 21 National cultural issues 5
Sustain a competitive advantage and increase organisation performance 20 Not much research 9
exists
Create business value 2 Low absorptive 2
capacity
Increasing coordination and collaboration 8 Leadership 2
Efficient spending 1
Improve customer service 5
Increase organizational awareness 1
Management approach and adaptability to the crisis situation 4
Enhance the flow of work and productivity 2
Table 8.
Advantages and Create new knowledge and lead to product innovations 4
problems of Decision makers efficiently and accurately 4
implementing KM in Tourism knowledge network 3
tourism and hospitality Source(s): Table created by author

companies can better understand their resources, capabilities and needs and can use this
information to create more efficient and effective response plans (Okumus, 2013). In times of
crisis, companies can leverage their existing knowledge and expertise to facilitate the
recovery process. This can help ensure that the recovery process takes place relatively more
quickly and regularly, minimizing the impact on tourism and hospitality and the local
economy.

6. Discussions
The objective of this research is exploring the role of the applications BCT, fintech and KM in
the tourism and hospitality industry, which covered in research questions above. In general,
the novel contribution of this study is the inclusion of a socio-technical approach that is
allocated into socio or knowledge resources perspective (KM), and technical or technology
perspective (blockchain and fintech) that drives tourism and hospitality innovation
(Mumford, 2006; Sarker et al., 2019). It is very important to emphasize at the number of
studies over the last decade that have been published in academic journals. In 2012, KM has
been cited by scholars and had published on it. It was not surprising given scholars like as
Peter Drucker et al. originated started to be implemented in the commercial world, including
the tourism and hospitality. While in the year 2021, fintech only had one article written
about it.
Most of the variables are associated with BCT, while the application of fintech with the
BCT model began in 2018 as researched by (Bulut, 2022). The BCT, KM and fintech have an
important role, for example in China, more than 100,000 tourism and hospitality consultants
have emerged (Liu et al., 2022). Research is needed to fully understand the potential benefits
and challenges of BCT and fintech in the tourism and hospitality, which are rapidly growing
fields. As the industry continues to evolve, there will be new opportunities to explore how
these technologies can improve customer experience, efficiency and sustainability.
Some companies, such as CheapAir, Expedia and OneShot Hotels, have already adopted BCT Digital
for booking and reservation systems to improve transparency and traceability. As discussed transformation
earlier we divided discussion into two parts of contribution namely theoretical contributions
and practical implications.
in tourism-
hospitality
6.1 Theoretical contributions
Numerous findings and theoretical contributions have been made by several previous
studies. From the conducted review we found that previous research has showed that there
are information systems that can be profitably adopted with BCT into medical tourism and
hospitality, such as destination management organizations’ websites, electronic health
record systems or point-of-sale systems for cosmetic services. Furthermore, if we look at it
from the perspective of the methods that have been used previously related to this paper
the use of different research methods and data collection techniques such as qualitative,
quantitative and mixed-methods in healthcare research is important to ensure that the
research questions are adequately addressed and that the results are reliable and valid. As
for the method of data collection, it is dominated by the distribution of questionnaires
which consist of 12 articles. As in study selected questionnaires for data collection on
tourism businesses in Ciudad Obreg
on, Navojoa, Huatabampo and Alamos,
cities located
in the southern part of the Mexican state of Sonora, specifically those that provide food and
lodging services (Ochoa-Jim
enez et al., 2021). This method is included in the example
of using quantitative methods. For qualitative, the most used data collection was
interviews. The article is an example of research that uses this method (Thomas, 2012).
However, these studies might have predominantly focused on their individual-level
analysis and implications. Some studies might have even approached these dimensions
from a technical or business standpoint only, without delving into the socio-technical
approach.
A systematic literature review is a methodical and comprehensive approach to reviewing
and synthesizing existing research studies on a particular topic. It involves identifying and
critically appraising all relevant research studies, and then synthesizing the findings from
these studies to draw conclusions about the topic of interest (Rana et al., 2022). Mixed methods
research is another approach that combines both qualitative and quantitative methods in a
single study. This approach can provide a more comprehensive understanding of complex
phenomena, as it allows researchers to gather both quantitative data (such as survey
responses) and qualitative data (such as in-depth interviews) on the same topic. In addition, a
literature review allows researchers to gain insights into the benefits and challenges
associated with this schema in the tourism and hospitality. By reviewing existing studies,
researchers can understand the impacts, advantages and disadvantages of implementing the
blockchain, fintech and KM. Additionally, this study appears to bridge the gap between
technological advancements and socio-cultural implications. It acknowledges the nuanced
role of KM from socio-cultural context; and BCT and fintech from technical context in driving
successful digital transformation. These three dimensions is a novel approach, setting this
literature review apart from existing studies.
The study also uses a variety of theories considering that there are three variables
discussed. The most discussed theory is the diffusion of innovation theory (DOI) and
sociotechnical, which is widely used theory in the field of innovation and technology
adoption. This theory explains how new technologies are adopted and diffused across
different groups of people, organizations and societies. In the context of BCT in tourism and
hospitality, DOI and sociotechnical can help to explain how and why certain organizations or
individuals may be more likely to adopt BCT, and how this technology may diffuse across the
industry (Erol et al., 2022). Network theory is a valuable framework for analyzing the
EMJB adoption and diffusion of BCT in tourism and hospitality. It explores the interdependent
relationships between stakeholders and organizations within a network and how they impact
the network’s behavior and outcomes. Another theory namely adult learning theory which
can enhance the study of BCT in tourism and hospitality (Thomas, 2012). This theory outlines
how adults acquire new skills and knowledge and apply them in their work and personal
lives. By understanding this process, we can develop effective training strategies to help
employees in the tourism and hospitality use BCT into their work practices.
In the tourism and hospitality sector, this translates into nurturing a culture that values
knowledge sharing and recognizes its impact on guest experiences and business outcomes.
Technology serves as an enabler, but a supportive culture encourages employees to actively
participate in KM initiatives. According to study, KM can facilitate the creation of dynamic
capabilities by making it easier to understand what is known and how to use this knowledge
effectively (Okumus, 2013). Efficient KM flow can result in increased productivity, quality,
innovation and business advantage. The exchange of information through knowledge
sharing and transfer among stakeholders in the tourism and hospitality is critical to enhance
competitiveness. Competitiveness in tourism and hospitality relies heavily on managing
customer data, information and knowledge from different sources and datasets to improve
performance (Del Vecchio et al., 2018a, b). Entrepreneurs in the tourism sector also depend on
networks for their sustainability (Czernek, 2017). KM can improve the tourist experience by
providing a platform to collect and distribute data for stakeholders and facilitate the efficient
allocation of tourism and hospitality resources.
Based on the analysis of each variable in terms of advantages and disadvantages to
challenges, the synergy of the three in interrelated roles can be attributed to the socio-
technical theory. Different from some of the theories in the previous research mentioned in
Table 5, this theory is about how to encourage collaboration, commitment and a risk-taking
environment that not only focuses on the social subset as KM but also technically from
fintech and BCT. With this perspective the organization is made up of people who produce
products or services using some technologies, and each affects the operation and suitability of
the technology as well as the actions of the people who operate it. The goal itself is related to
the benefits of applying the variants of the review that have been carried out mostly to
improve the performance of the company to achieve sustainability and innovation.

6.2 Practical implications

Shifting our lens to the technical aspect based on sociotechnical theory, this study encounters
the transformative potentials of blockchain and fintech within the tourism and hospitality
landscape. The use of BCT in the food industry can help to ensure food safety, increase
transparency and provide consumers with more information about the products they are
looking for. By using a blockchain-based platform to track food products, it is possible to
trace the journey of the product from the farm to the table as it helps to identify any potential
issues or hazards that may arise during the production, transportation and storage of the food
(Baralla et al., 2021). Furthermore, BCT can also help to prevent fraud and counterfeiting in
the food industry by providing a tamper-proof record of the food’s journey. This can help to
build trust between consumers and producers, leading to increased sales and a better
reputation for the local area. Provenance is one of the companies that is exploring the use of
BCT in the food industry. By using blockchain-based platforms, it can help to create a more
transparent and trustworthy food supply chain, which can ultimately benefit consumers,
producers and the local economy.
On the other hand, the socio dimension is about tapping into the KM held by employees,
facilitating cross-departmental learning and creating an environment where innovation
flourishes. In the context of tourism and hospitality, KM is not confined to technological tools
alone. Instead, the strategic approach that emphasizes fostering a culture of open Digital
communication, collaboration and knowledge sharing. A literature review provides transformation
insights into practical implications and applications of the blockchain, fintech and KM in
tourism and hospitality. By examining real-world cases and examples, researchers can
in tourism-
understand how these technologies have been implemented, their impact on industry hospitality
practices and the potential benefits for various stakeholders. This information informs
recommendations for industry professionals, policymakers and practitioners. On the other
side, it is important to note that medical tourism and hospitality is a growing sector expected
to continue its growth in the coming years. BCT is helping to facilitate this growth by
enabling transparent and secure transactions. According to the Expresswire, the medical
tourism and hospitality market in the United States is expected to be worth USD 83,940
million by 2023, with an estimated CAGR of 10.2% during the review period.
One of benefits of using BCT in medical tourism and hospitality is that it can provide a
more secure and transparent way of managing patient data. By using blockchain-based
platforms, it is possible to create a tamper-proof record of a patient’s medical history and
treatment, which can be shared securely with healthcare providers and destination
management organizations (Rana et al., 2022). This helps to ensure that patients’ personal
data is kept private and secure. This study focuses on developed countries with advanced
healthcare systems and data availability. However, research must also include developing
countries to address global health issues and provide adequate attention and resources to
their healthcare systems. The table includes 43 countries, with 29 being developed and
dominated by Europe, and 14 developing countries.
There is a two-way process between tourists and local service providers, and if visitors do
not understand or cannot access the new technology-based services, this can limit the
potential customer base for the organization (Wei et al., 2020). A good understanding of BCT
is crucial in the tourism and hospitality industry from a research perspective. Without it,
organizations may miss opportunities for innovation and efficiency, putting them at a
disadvantage compared to competitors who adopt the technology. Political issues can pose
obstacles to BCT development, particularly around regulating decentralized technologies like
cryptocurrencies and managing tax liabilities. Staying current with emerging technologies is
crucial for organizations to succeed. Additionally, the growth of e-money platforms presents
a challenge for traditional banks to adapt and remain competitive in the evolving financial
services industry.
From technical aspect in sociotechnical theory, security is a critical issue when it comes to
BCT. While the technology has advantages such as immutability and transparency, it also
poses challenges when it comes to data security. The lack of awareness and understanding of
data security can increase the potential for data theft, hacking and other security breaches.
The fact that data entered into the blockchain cannot be changed can also create challenges
for users who may need to cancel transactions or request refunds (Tyan et al., 2020). To gain
trust and acceptance in society, it is important to provide clarity on actors, processes and
other matters related to BCT through research and dissemination of related information, as
mentioned in the study by Tham and Sigala (2020). Another challenge facing BCT is
scalability, which refers to the ability of the system to handle many transactions without
compromising its speed and efficiency (Nam et al., 2021). As more devices access the system,
the speed of transactions may slow down, and complex nature, which can limit its usability
and adoption (Erol et al., 2022).
BCT has several roles and advantages in the tourism and hospitality industry. One of the
critical issues that BCT can address is the problem of fake ratings and reviews of products or
services. By using smart contracts, BCT can validate the authenticity of reviews and ratings,
which can help to increase trust and transparency in the industry. America’s Federal Trade
Commission found that more than 70% of a customer reads product reviews first before
EMJB buying. As a result, the problem of fake reviews and ratings can have a significant impact on
the competitiveness of companies in the industry (Filimonau and Naumova, 2020).
In contrast, the present literature review offers a distinctive approach by amalgamating
these dimensions using a socio-technical perspective. This holistic perspective is unique in its
exploration of how these elements contribute to innovation in this industry. By employing a
socio-technical lens, this study goes beyond merely exploring the technical and business
facets only; it delves into between technology, human factors, and KM practices.
Blockchain is designed to distribute control and responsibility across a network of peers,
which increases the overall security of transactions and makes it more difficult for any one
actor to compromise the system. Windingtree is a good example of a travel platform that uses
BCT. It allows airlines and hotels to connect with travel companies and customers directly,
without relying on intermediaries such as booking websites. HotelP2P is another example of a
BCT-based travel platform, which allows hotels to manage their inventory and pricing
directly, without relying on third-party distribution channels. This can help hotels to reduce
their costs and increase their profits, while also providing greater control over their own data
and pricing strategies.
While BCT can be used for foreign currency exchange, it is important to note that it is not
limited to this application. BCT has the potential to disrupt many industries by providing a
decentralized, transparent, and secure way of storing and transferring data and value.
Another potential benefit of BCT in travel is the ability to create a more personalized and
efficient experience for travelers. By storing digital identities and transaction histories on a
distributed ledger, destination operators can better identify and cater to traveler preferences
€
(Onder and Treiblmaier, 2018). This can lead to more targeted and effective marketing, as well
as a more enjoyable and memorable travel experience for customers. For example, a hotel
booking platform could offer customers the option to finance their trip directly through the
platform. This method can be more efficient and cost-effective for both the customer and the
travel company. By leveraging the unique security features of BCT, these payment systems
can provide enhanced security and transparency in digital transactions.
There is often a fine line between competition and collaboration, and in many industries,
including tourism and hospitality, there can be indirect competition between companies that
benefit from working together. In order to foster collaboration and knowledge sharing, it’s
important for companies to build trust and establish clear communication channels.
However, there is always the risk of dishonesty or unethical behavior in business, which can
undermine trust and harm the reputation of the company. One way to address this issue is to
establish clear guidelines and policies for knowledge sharing and collaboration, including
measures to protect sensitive information and prevent data breaches. KM can play a critical
role in managing a crisis by facilitating quick decision-making and effective communication
among stakeholders. In addition, the adaptability of the management approach to crisis
situations can have significant implications for business continuity. According to scholars,
the application of KM, including the creation, acquisition, sharing and application of
knowledge, has an impact on business practices (Abbas and Sa gsan, 2019). In this case, KM
can contribute to the sustainability of the recovery efforts, particularly if employees have the
necessary knowledge and skills.
Overall, the application of KM can support the recovery of tourism and hospitality sectors
after natural disasters, as well as contribute to business practices. Starting from the
application of fintech, which is prone to security, it will be answered with one of its product
innovations, namely blockchain, which offers transparency, tracking and the absence of third
parties. Meanwhile, those who manage the technology in terms of knowledge, data and
information will be under the auspices of the KM applied. This solution stems from the
COVID-19 pandemic which has resulted in a decrease in revenue from the tourism and
hospitality sector. The use of various technologies is needed to assist in dealing with the risk
of similar possibilities that will occur so that both the company and the community are ready Digital
to face it. BCT with its security and increased trust, fintech with its fast technology and KM as transformation
a regulator of both can be a powerful new “weapon” for companies to compete.
Refers to sociotechnical theory, latest technologies can also contribute to the
in tourism-
competitiveness of companies in the tourism and hospitality industry. It’s important to hospitality
stay updated with emerging trends and consider technologies that align with your business
objectives, customer expectations and market demands. Besides fintech and blockchain,
there are several latest technologies where the tourism and hospitality industry can benefit to
stay competitive such as artificial intelligence, machine learning, virtual and augmented
reality (VR/AR), sustainability and green technologies. It is important to carefully evaluate
the specific needs and requirements of company’s business to identify the most relevant
fintech and blockchain solutions that align with your strategic goals.
Last but not least, Hofstede’s culture theory is another framework that can be applied to
the both study and industry of BCT in tourism and hospitality (Javidan et al., 2006). Smart
tourism destinations can leverage BCT to improve guest services, including tracking tourists,
managing lost baggage and providing fast check-in procedures, among others. Although this
technology has the potential to greatly enhance the tourism and hospitality experience, there
is a significant gap between research and practice in this field. Researchers may be slower to
explore the potential of BCT in tourism and hospitality due to the long research process and
€
the complexity of the technology (Onder and Treiblmaier, 2018). This has resulted in limited
publications by academicians. In addition, the adoption of this technology by practitioners
may be hindered by various factors, including the complexity of the technology and the
readiness of consumers and markets to adopt it (Kwok and Koh, 2019). Many consumers may
not be familiar with BCT or may be hesitant to use it due to concerns about privacy and
security. Therefore, companies will need to educate consumers about the benefits of BCT and
address any concerns they may have to encourage adoption.

7. Conclusions and future avenues

This research is limited to the examination of the functions, benefits and challenges
associated with each variable when applied in the tourism and hospitality. The description
of internal and external factors in their influence in improving the company’s performance,
which also has an impact on improving customer experience, is not mentioned in depth.
Future research might investigate the impact of BCT on the competitiveness and
sustainability of the tourism and hospitality. This can be achieved by analyzing the
correlation between the adoption of BCT and the performance indicators of companies
operating in this industry, such as revenue, customer satisfaction and innovation. The
research also can explore the potential of BCT in enhancing collaboration and KM practices
among stakeholders in the tourism and hospitality. This can involve examining the impact
of blockchain-based platforms on the sharing and transfer of knowledge, as well as
identifying the challenges and barriers that need to be addressed to maximize the benefits
of BCT.
In addition, this study underscores the paramount importance of leveraging a socio-
technical approach to the application blockchain, fintech and KM. This serves as a catalyst
for driving innovation within the dynamic landscape of the tourism and hospitality sector.
Looking ahead, there are several promising avenues for further research. One avenue
involves conducting in-depth case studies to exemplify how the socio-technical approach and
other alternative theories can be successfully implemented within specific tourism and
hospitality contexts. Additionally, exploring the intricacies of change management required
for seamless integration could provide valuable insights into practical adoption.
EMJB Another avenue pertains to evaluating the societal and ethical implications of tourism and
hospitality digital transformation. Investigating factors such as data privacy, security and
equitable access will be crucial in ensuring responsible implementation. In addition, future
research can also compare the effectiveness of BCT with other emerging technologies, such as
artificial intelligence and the Internet of things, in improving the competitiveness and
sustainability of the tourism and hospitality industry. It would also be interesting to examine
the role of fintech and KM in the context of sustainable tourism, as these technologies have
the potential to contribute to more responsible and environmentally friendly practices in the
industry.
Last but not least, longitudinal or quantitative studies tracking the outcomes and
evolution of companies that embrace this approach over time can offer insights into its
enduring impact on performance, resilience and competitive advantage. These future
avenues of research have the potential to deepen our understanding of the complex dynamics
between emerging technology, socio-cultural factors and KM in the context of digital
transformation within the tourism and hospitality industry.

Acknowledgments
The authors would like to thank the Guest Editors, Dr. Leonidas Efthymiou, and Editors-in-
Chief, Professor Demetris Vrontis, as well as the anonymous reviewers for their critiques and
revision recommendations. The authors also thanks the Faculty of Information Technology
at Universitas Islam Kalimantan Muhammad Arsyad Al Banjari Banjarmasin (UNISKA
MAB) for the financial support. Saide Saide (WOS ResearcherID: H-2399-2018) is the
corresponding author of this article. He is an Assistant Professor at the Department of
Information Systems, Faculty of Science and Technology (FST), State Islamic University of
Sultan Syarif Kasim Riau (Universitas Islam Negeri Sultan Syarif Kasim Riau-UIN SUSKA
Riau), Indonesia; Founder of PRO Knowledge Indonesia; and Director at the Lembaga
Enreach FST-UIN Suska Riau, Indonesia. His research has been published in world-leading
academic journals (e.g., SSCI/SCIE/ABDC level); Journal of Enterprise Information
Management, Big Data, Journal of Business Research, Technology Analysis and Strategic
Management, EuroMed Journal of Business, and IEEE Transactions on Engineering
Management, etc.

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Corresponding author hospitality
Saide Saide can be contacted at: saide@uin-suska.ac.id, saidefc@gmail.com

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