Airlines are increasingly interested in blockchain technology

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To improve security, to expand the loyalty programme and reservation system, and the effectiveness of flow control – all of these benefits airlines hope to obtain with the use of Blockchain technology.

Now most of the airports and airlines used outdated methods of collecting and processing information, using a variety of disparate operating systems, in which the communication can be untimely and unsafe. Over the last 20 years in the United States and worldwide has increased significantly the number of trips abroad.

Attempts to increase the effectiveness of regulation of passenger traffic

Key representatives of the aviation industry recognized that the modular network has a huge potential to solve many of their problems, the purpose of which is to create the most comfortable conditions for rapid, unimpeded and safe journey.

Industry Solutions Lufthansa, daughter largest airline in Europe, has launched an initiative Blockchain for Aviation (BC4A) in an effort to collect potentially promising for the aviation industry projects on the blockchain and to develop industry standards for its use. Company Air New Zealand, Lufthansa, Eurowings, Austrian Airlines and Brussels Airlines announced cooperation with the Swiss company, which uses a blockchain to create a decentralized network distribution of trips, by combining the interests of clients and service providers.

Airlines of the world are annually transported more than 3 billion passengers and paid $ 664,4 billion to global GDP. The growing level of competition forces them to be more flexible and look for new opportunities to improve the efficiency of using the technology of the blockchain to achieve the final result.

The benefits of using smart contracts

Top prospects for the use of smart contracts include the following:

  • enhancing the relationship with customers in need of fast search for new solutions;
  • support of the loyalty program;
  • transparency in tracking baggage;
  • the efficiency of aircraft maintenance;
  • the reduction of queues at the airport due to a passport control with a rapid identification system for passengers;
  • increase the level of security in the small airports and responsibilities of private pilots.

The ability of the blockchain to quickly process large volumes of contradictory data and to check the consistency of information between different stakeholders at airports, is a promising prospect for the aviation industry. Immutable and transparent block network can provide greater safety, since many of the data collection processes remain isolated from each other. Smart contracts can greatly improve the quality of customer service, but will require centralized management by the accredited organisation along with a large amount of maintenance and oversight.

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Tags: Blockchain

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