Blockchain can provide a more decentralized, secure and a stable environment where business and commercial transactions are more reliable
and transparent, blockchain has the potential to disrupt processes in many
industries. Some airlines are already exploring the application of blockchain
in various areas such as customer service, repair, and maintenance of aircraft,
ground operations and resources to develop overall administration.
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| Blockchain app development companies in Qatar |
How will Blockchain
benefit To the Aviation Industry?
The main reason for blockchain’s popularity among the
airline industry is its capability of storing information on a shared digital
ledger that can be used for storing data associated to the maintenance status
of aircraft, flight schedules, and other data. For instance, blockchain can be
used for registration of details such as the date of manufacture, serial
number, inventory of spare parts of a specific component and other data that
the technical team can quickly locate while repair and support.
Blockchain Technology
Use Cases in the Aviation Industry
1. Identity
Management
In the airline sector, forging identities of individuals
comes with serious threats, including the possibility of terrorist activity at
airports or on flights. Blockchain can use biometrics to validate identities.
Furthermore, once it is validated, the identity is stored on the blockchain
where it cannot be altered in any way due to the decentralized and secure
network. Besides reducing human errors that occur during the process of
checking identity documents, in the long term, blockchain could potentially
result in biometric identification replacing paper passports.
2. Streamlining
Digital Travel Systems
All airlines companies face inefficiencies caused by
fragmentation costs. They arise due to cost differences from additional
features such as upgrades and premium services as well as from customers using
different services or operators to save money. Blockchain technology presents
an opportunity to streamline these cost efficiencies by providing a unified
system that airlines, travel agents and other players in the industry can use
for booking an entire trip. It would include not only factors such as loyalty
programs that affect the cost of a trip but also non-airline related services
such as transportation and hotel accommodation.
3. Ticketing through
tokenization
Legacy ticketing systems come with the risk of errors during
the issue of the ticket as well as from system failures. They can use smart
contracts to create a paperless ticket that includes built-in stipulations for
additional criteria such as lounge access, first-class or business class
privileges and other services. Since the tickets will be stored on the ledger,
it eliminates the risk of chaos caused by events such as system crashes.
Moreover, it can combine elements such as biometric identification to eliminate
the need for customers to carry digital or paper tickets and identity
documents.
4. Flight Records
Systems Security
Events such as Aeroplane crashes or flight disappearance
(like that of Flight 370 of Malaysian Airlines in 2014) are dependent on flight
records for determining the cause of the accident or for tracking the path of
the aircraft to find the wreckage or initiate search and rescue operations.
Blockchain can help to collect and store all the data related to a specific
flight, whether it is the manifests, flight path, baggage on boarding or other
factors. The data can be used for tasks of varying importance, whether it’s to
track down the location of lost baggage or details such as the names of
passengers on board the flight and their seat numbers. Since the information is
stored securely on a centralized ledger in a remote location, there will be no
danger of it going missing.
5. Maintenance
Transparency
Delays are frequent during air travel, and they add to the
overall costs due to passenger compensation expenses, hangar costs and other
overheads. In most cases, unforeseen maintenance is the primary cause of such
delays. Several leading companies in the airline industry are already exploring
the use of blockchain’s distributed ledger to make aircraft maintenance more
transparent than it is. The technology can be used to track the fitness of
individual parts of the aircraft by monitoring data such as date of
manufacture, depreciation and other maintenance-related features to gauge when
a part needs replacement, thereby reducing delays.
6. Reducing Instances
of Overbooking
Since empty seats result in a loss of revenue, airlines
follow the practice of overbooking flights as a backup against last-minute
cancellations, passengers arriving late for the flight and other reasons that
could cause them to fly under capacity. The outcome can be chaotic when the
overbooked passengers have forced off flights or refused to board, resulting in
bad press for the airline. By using blockchain-based features such as tokenized
ticketing and smart contracts, airlines can manage the overbooking in a better
manner to ensure that none of the parties suffers.
7. Airline Alliance
Revenue Sharing
Currently, there are three major airline alliances
worldwide, which calls for an efficient revenue-sharing model. While the
alliance offers passengers the option of many connections, the algorithms used
for revenue sharing are not reliable, resulting in inter-airline disputes and
delayed flights. Blockchain presents the opportunity to create a unified system
that uses predetermined criteria to share revenue immediately, thereby reducing
overall costs and ensuring that flights are not delayed due to revenue sharing
disputes.
8. Streamlined
Frequent Flyer Programs
While frequent flyer programs are aimed at capitalizing on
customer loyalty, the loyalty programs of airlines vary significantly and have
a lot of scope for improvement in terms of incentivization of customers.
Blockchain providing customers with many more options for redeeming their
accrued miles. Additionally, aspects such as revenue sharing, loyalty point
redemption and accrual of points can be managed seamlessly with blockchain.
Fusion informatics provides top blockchain application development services in Qatar, Globally. Our blockchain development services comprise of
Cryptocurrency Development Services, hyper ledger development, private blockchain and etc.
Hire our blockchain developers and we will build top-notch quality blockchain
applications for your enterprise. We present blockchain applications that will
assist the companies to withstand in the competitive environment. Also Fusion
Informatics has always been considered as one of the Best Mobile App Development Company in Doha, Qatar. Mobile Application Development is an area
that goes beyond the creation of a convincing user interface.
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