Blue Ocean or Dry Desert? Blockchain and Bitcoin Impact on Tourism Industry

Abstract

The technological innovation has yielded great opportunities to expand and innovate the scope of services offered. This is particularly true for tourism, which has always been characterized by extensive innovativeness. The pace at which technological innovations diffuse within a specific sector depends on a variety of factors, including the influence of peers and relevant actors. The present study explores the level of interest about these new technologies on social media with the aim to explore the dynamics of reciprocal networking influence in technological diffusion. To capture the attitudes expressed in the industry, the study analyzes the ongoing discussions on Twitter as a proxy for the actors’ interest. Through a social network analysis of the flow of tweets, the analysis maps the current online discourse about new technologies diffusion. Moreover, the sentiment analysis draws the current perceptions toward the diffusion of new technologies. While previous research is focused on the users’ perception toward the development of new technologies in tourism, the aim of this study is to investigate the dynamics underneath the level of diffusion of information and awareness about these new technologies, which still represents an unexplored area of research. Thus, the paper contributes to the literature on new technology diffusion by intercepting current social media debate and literature studies focused on the diffusion of new technologies in tourism. The paper also highlights the role of knowledge broker in influencing this public debate.