Using blockchain technology for enhanced reconciliation and data sharing is a compelling value proposition for this industry. The most creative and disruptive possibilities go beyond pure financial transactions - Accenture
Our time spent in the airport can be significantly reduced and made a smooth and satisfying experience. We would be able to verify our identities before the trip, thus eliminating the necessity of unveiling any personal information. This is all done through the ability of blockchain to store all the necessary information of all parties concerned in one place, which means enhancing data sharing without needing an intermediate body.
Incorporating blockchain will also improve the efficiency of transactions and processing information, which will result in a faster availability and usability of our points and miles. Other applications can also expand to ticketing, air cargo, flight planning and much more. On top of that, from the airlines’ perspective, it can reduce the investment costs of incorporating new products and services into the sector. There is a possibility of enhancing every aspect of the industry and making each process faster, more efficient, and less costly! That’s something certainly worth considering in my opinion.
Unfortunately, not everyone shares the same thought. Although some airline industries started investing in blockchain, -Lufthansa partnered with the blockchain startup Winding Tree- there are still some limits to the widespread adoption of this technology; it will take some time before all airline businesses appreciate its value and understand how to use it efficiently to their advantage.
The travel industry is not the only one facing disruptive changes through blockchain; unexpected and impressive applications will be revealed soon. We will keep you posted !
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