Uman NUH | today: 04/14/2024
| Author(s) | Благополучна А. Г., , , | ||
|---|---|---|---|
| Category | Economics | ||
| year | 2021 | issue | |
| pages | 115-123 | index UDK | 338.46 | DOI | 10.31395/2415-8240-2021-99-2-115-123 (Link) |
| Abstract | The article explores the use of cryptocurrencies in hotels, restaurants and the tourism industry. Analyzed the legislative aspects that regulate the turnover of cryptocurrencies. In the course of the research, a monographic and abstract-logical method was used (to substantiate the importance of using cryptocurrencies in the hospitality industry and the advantages of implementing a Blockchain system), in addition, methods of comparison, analogy, analysis, synthesis and generalization were used to reveal the content of basic concepts and terms. Today, modern digital currency is presented as an alternative form of money, however, in many countries, operations with cryptocurrency are prohibited in the banking system. In Ukraine, a procedure has been established for declaring cryptocurrencies, where bitcoins are an intangible asset. The Securities and Exchange Commission is starting to develop new tax legislation that aims to legitimize this type of currency. The hospitality industry is especially active in adopting new technologies. Cryptocurrencies allow consumers to pay for services electronically anonymously without the need to use banking institutions. The most popular among all cryptocurrencies is Bitcoin. The first tangible growth in bitcoins occurred precisely in the field of restaurant management due to the purchase of pizza on one of the forums. Today hundreds of restaurants and cafes around the world accept cryptocurrency payments. Blockchain benefits include cost efficiency, standardization, and secure communications. Data such as manufacturer ID and production date is hashed and stored in the Blockchain. Each organization in the supply chain, after receiving the product, adds its unique identifier and the corresponding blockchain date. Cryptocurrency is a very convenient way to pay for goods and services. More and more restaurant establishments are allowing crypto payments. This prompts the authorities of the countries to develop regulatory documents that contribute to the legalization of such transactions, not only in the field of hospitality. | ||
| Key words | cryptocurrency, hospitality industry, blockchain | ||