Using Blockchain to Promote Trust in the Hospitality Industry
Many hospitality organisations already have several processes in place to deal with the European Union’s General Data Protection Regulation (GDPR) that came into effect in May 2018. GDPR has impacted the collection and processing of European citizens’ personal data globally; yet, the increased use of AI adds a further level of complexity that needs careful management going forward.
Blockchain is one technology that is emerging in a way not only to help take the complexity out of AI data use, but also to promote greater trust. Essentially, blockchain is a public digital ledger of transactions. The transactions or ‘blocks’ are held in a database and information cannot be altered, which makes it secure. While information is accessible, it is not stored in one place which means it is less vulnerable to cyber-attack. The information is also time-stamped, so it is both traceable and transparent.