Forget the middleman—blockchain technology could lead to the end of the traditional package holiday provider, putting power back into the hands of customers, according to a new study from the University of Surrey.

The research looked into user acceptance of blockchain-based sharing platforms similar to Airbnb. The study found that blockchain technology could eliminate intermediaries, such as holiday providers, potentially slashing costs by bypassing booking platforms.

The study also suggests that property owners stand to gain from blockchain adoption and gain more direct income, bypassing hefty fees typically levied by listing companies.

Customers could also benefit from greater control over their personal data, thanks to blockchain's increased security and privacy during bookings.

Professor Iis Tussyadiah, co-author of the study and Head of the School of Hospitality and Tourism Management, said, "Understanding how users value different features depending on the platform's design is crucial for building successful blockchain-based sharing economies.

"Our research flips the script on traditional sharing economy models, placing power firmly in the hands of users, not corporations."

The study also highlights nuanced gender-based differences in user preferences, with women prioritizing traceability for security while men lean towards income distribution.

Professor Iis Tussyadiah continued, "Our research highlights the importance of user empowerment and context-specific considerations. But it's not a one-size-fits-all solution. Blockchain solutions can drive widespread adoption and reshape the industry landscape by understanding factors such as fees, privacy, and income distribution within the sharing economy."

The study, also co-authored by Ikram Muharam and Dr. Albert Kimbu, has been published in Tourism Management.

More information: Ikram Nur Muharam et al, Decentralising Airbnb: Testing the acceptability of blockchain-based sharing economy systems, Tourism Management (2023). DOI: 10.1016/j.tourman.2023.104871