Adopting blockchain technology into hotel systems can help improve a visitor's experience by allowing them to personalise certain aspects of their stay before they arrive, experts have noted.
Not only this, but there are also several benefits for the hotel in adopting the technology, says Jawad Riachi, founder of Liquid D, a smart settlement platform, which recently integrated blockchain technology into the systems of Atlantis, The Palm, Dubai.
The smart platform enables guests to pay for their activities and amenities in an efficient, secure and effortless manner. The platform also uses smart contracts that allow the hotel to pre-define guests' terms and refund conditions, enabling stress-free and frictionless transactions. The cashless-based solution eliminates disputes and fraud, while providing automated loyalty programs and speedy executions, which hotels can take advantage of. As a platform, Lucid Pay's goal is to interconnect the hospitality industry and break physical boundaries, by providing guests with the opportunity to experience the city while charging back to the host and settling their bill at checkout.
"We have focused on ensuring the product is easy to use, with a convenient learning process. The users immediately feel at home when they use our solution," said Riachi.
"From an operator perspective, time is money and innovation as well as efficiency are key. Hence, the implementation of the cashless payment system increases the convenience for us as cash is no longer physically handled, audit time is spent more effectively, and greater security is guaranteed," said Helen Woodard, director of Finance at Atlantis The Palm, Dubai.
The new venture is in line with the recent announcement of the Emirates Blockchain Strategy 2021, where at least half of the UAE's federal transactions would be powered by blockchain technology by 2021. As the region increasingly continues to move towards adopting blockchain technology in the digital era, it is also said to help the government prepare for future challenges.
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