Blockchain Adoption Takes Off in the Aviation Industry


In an era where the flight travel; has become the norm, and booking a car is easier than renting a car, an estimated 40 million flights will occur alone and it is of common knowledge that competition is fierce and even the smallest advantage can be the difference between leading the industry and being forced out of unwanted merger. There have been whole literatures that outline the benefits of blokchain and the impact it will have on the airlines industry or the aviation industry. As it can be seen this technology is causing stir and is making waves in the aviation industry. We have gone through the times where we have seen the blockchain technology being adopted in various field. The first major airlines that have taken the vital steps, is the Norwegian Airlines which wants to integrate blockchain into their operations. The Norwegian Airways have announced the launch date for the latest Cryptocurrency exchange NBX.

The Norwegian Airlines managing director said in an interview to a local news agency, that first priority is the launching of the platform and then only after the steps are done and it is up and running, the payment solution will be designed for the users, so that customers can make the payment via the virtual currency. Be it for first time flyers or the regular flyers, the unique feature that attracts them is the loyalty programs, which has to be in sync with the daily lives of its customers. The thing is that the blockchain is the new type of technology that has a lot of advantages. The only disadvantage that the system has is it is the source of pollution and also contributes to global warming. Almost every aspects of the retail world has taken advantage of reward system, ensuring maximum customer retention occurs through their network. Singapore Airline is the first airline applications that have integrated blockchain into their loyalty app.

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KrisFlyer signed up with the Singapore Airlines as the first retail partner to utilize its new digital wallet app following successful a proof-of- concept exercise which was carried out in partnership with KPMG Digital Village and Microsoft. The CEO of the Singapore Airline Gh Choon Phon said in the statement that this had been a groundbreaking development for the airlines and it is a great way technology is aiding the aviation industry to uplift customer experience and bring in more sale and increased revenue. Singapore airlines have been the oldest in the industry among the fleet as it was established in 1947. The company also has revenue of over $12 Billion dollars. It is also the first airline that is pushing the boundaries of innovation when it comes to bringing in the latest technology and implementing to provide superior customer experience just its counterpart in Norway. The airline also has the aim to be the world’s first digital airlines, which under the mission the airline as taken under the flagship program named Digital Innovation Blueprint.

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Aviation specialist Sherry Stein, explained, the reason blockchain should be implemented and integrated into the system. According to her, the main advantage of implementing the technology is that it is a very efficient and effective when it comes to transaction that is carried out on the platform. All the transaction that takes place on the platform happen very quickly and instantly as it is a decentralized network of  computers connected together to form an payment system that updates all the stakeholders immediately and instantly. Another airline that has taken blockchain into their stride is Cathay pacific with a new campaign called “Unlock More Miles”.

Source: Coin Telegraph

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