Can Blockchain Transform the Aviation Industry – Here is how!

The global aerospace industry is vast and has generated revenue of over $838 billion, and the industry is growing rapidly. Blockchain technology implemented in the aviation industry can help address various challenges that exist within the industry’s operations. According to the Blockchain developers in Kolkata, if the technology is implemented the right way, it can enhance aviation operations like customer data handling, flight management, aircraft maintenance, and many more to be counted.

Can airlines really save millions with blockchain?

Observing today’s scenario, there are only a few industries left to adopt blockchain, and the aviation industry is a whole new segment that has not adopted the technology to date. Initially, blockchain was limited to cryptocurrencies like Bitcoin, but the technology has the potential to transform the aviation industry.

Blockchain’s contribution to the airline industry –

·  Decentralized operations:

Being a decentralized technology, blockchain allows no governing authority or any third party to look after the framework. Apart from cryptocurrencies, the technology allows you to store anything from important documents to operational procedures without the inclusion of an intermediary.

·  Immutability:

Blockchain is an immutable ledger where any information entered can be modified or altered. This makes the technology unbreachable and no one can implement any edits in the network without the knowledge of other participants.

·  Updated security:

Blockchain is an encrypted technology that adds very strong security to the airline network system. Using cryptography – which is a mathematical algorithm that acts as a firewall and stops hacks. Information stored in the network remains hidden cryptographically.

Implementation of blockchain in the aviation industry can help increase the competencies of the industry. Without a doubt, it can be said that blockchain is the next big integration in the airline sector.

What are the potential uses of Blockchain in Aviation?

With the right implementation, Blockchain will be Transforming aviation industry by showcasing huge opportunities in terms of securing and managing confidential data. There can be many use cases like –

· Luggage tracking:

Blockchain can be a reliable technology with immutable tracking of passenger baggage and help track the exact location of each baggage or cargo. The technology can further enhance transparency and visibility which will help the passengers and authorities pinpoint every piece of luggage easily.

·  Passenger Identity Verification:

Blockchain enhances the efficiency of passenger information verification and delivers true identities. The identities of every passenger will be stored on the blockchain network and passengers are able to enter the airport using a verification code only.

·  Maintenance of aircraft:

Every aircraft is designed to operate for a fixed time period, after which it requires an overhaul. Blockchain technology makes the tracking and tracing of aircraft information ease the tedious process. An immutable record helps list the maintenance history of the aircraft and alerts you for the next overhaul.

·  Ticket booking:

Ticket booking was always a tedious process for every airline and this can be easily mitigated with the implementation of blockchain technology. Smart contracts can be initiated for an automated and smart ticketing system to be used by passengers to purchase tickets to and from any part of the globe.

Wrapping up, the aviation industry is a regulated sector and one that calls for radical optimization as well. So, the introduction of blockchain technology in the aviation sector can help airlines save millions of dollars and increase passenger satisfaction. This newfound technology can be a revolutionary tool for transforming the airline sector.