Master's Thesis from the year 2019 in the subject Business economics - Miscellaneous, grade: 1,3, University of applied sciences, Munich, course: MBA Entrepreneurship - MBA Master Thesis on Blockchain Technology and Travel, language: English, abstract: The following master thesis paper explores the possibility of resolving a major issue of the travel industry around how (non-refundable) reservations on lodging properties could be exchanged in a B2B market place by using blockchain technology as the exchange layer. To provide the reader with background knowledge first an introduction into definitions around B2B market spaces, the travel industry and blockchain are being made. Here the commercial structure of volume-related cost metrics of such B2B marketplaces are explained. This is then followed by quick introduction into the travel industry, its different distribution segments online (like OTAs) and offline (Retail) and the related suppliers and technology around them. For a deeper understanding on the financial background operations the two different main billing models are explained: Merchant versus Agency. Whereas the Agency model primarily is based on the traveler settling the bill himself upon check-out, the Merchant model works on collecting money upfront from the traveler (with the effect of usually Merchant rates being cheaper than Agency rates). This further gets segmented into who takes the payment (supplier or B2B partner) and how the financial setup works in terms of payment guarantees, billing cycles and dispute handling. Blockchain technology is explained in the next chapter, from its first known functionality as a pure cryptocurrency (Bitcoin) to the next step of technological evolution where the payments of those crypto currencies are then tied to a set of business rules called "smart contracts", rooted in the Ethereum blockchain technology framework. The first step of then building the theoretical model was an analysis of data to find out the a
