BENEFITS OF BLOCKCHAIN TECHNOLOGY IN AVIATION SECTOR

Blockchain technology is a decentralized, distributed ledger that records the transfer of digital assets or information. It is managed by a cluster of computers not feature blocks of data. Each of these blocks of data is secured and linked to each other using cryptographic principles. It resembles es a digital matrix of data or information. Though in the initial stages, this concept has been adapted by several industries along with government agencies. A common example is that cryptocurrency for the financial sector. Others include identity verification, healthcare databases and legal records. In this post, SGS Technologie describes the benefits of Blockchain technology to the aviation sector.

Automation of processes and payments: The first and foremost advantage is the ability to automate processes and execute them as per pre-defined rules. This can also be applied to financial transactions such as determining loyalty settlements, purchasing travel insurance, paying airport and authority taxes, fees along with other charges.

Improvement of customer experience: Loyalty of existing passengers can be maintained along with the generation of new interest. Special offers can be provided based on travel histories and preferences for seating. Big data analytics can also be used for this purpose. This can enable creating strategies that minimize the risk of error and increase customer satisfaction. An example is a digital wallet which allows customers to use frequent-flyer miles at participating retail merchants.

Tracking Cargos: Blockchain enables reliable and immutable tracking of the location along with status ofpassenger’s bags as well as cargo from the start of the journey until delivery. It hence enhances transparency for authorities and passengers to easily locate their cargo.

Aircraft Maintenance: Throughout its lifecycle, aircrafts may change ownership up to five or six times, which makes the tracking and tracing of information a time-consuming and tedious process. For this reason, an immutable record which lists the maintenance history of the aircraft in a digital setting could be of great value for the stakeholders involved.

Ticket Booking: Blockchain technology can solve issues faced by airlines at times of overbooking. That is, tickets may be booked for seats other than what is available; especially during holidays and festive seasons. With blockchain, data on the exact number of seats available in every carrier of an airline’s fleet can be known. This information can be integrated with ta ticketing application (web or mobile) with which passengers can book tickets. Such as method will increase levels of efficiency and accuracy.

Identity Verification: Efficiency of passenger-identity verification can be increased with blockchain. Details of passengers such as biometric data, required documents and tickets can be stored on a single centralized network. Passengers could simply enter the airport via a verification code, which will remove the necessities of long ques and comprehensive document verification. Moreover, it will be 100% accurate and secure.

Such concepts are already being implemented by a few airline operators as well airport authorities across the United States. You could be the next.

SGS Technologie is a big data consulting and blockchain application development company headquartered in Jacksonville, Florida. Reach out to us for finding out more about the blockchain solutions that our subject matter experts can provide you.

Category

BENEFITS OF BLOCKCHAIN TECHNOLOGY IN AVIATION SECTOR


Blockchain technology is a decentralized, distributed ledger that records the transfer of digital assets or information. It is managed by a cluster of computers not feature blocks of data. Each of these blocks of data is secured and linked to each other using cryptographic principles. It resembles es a digital matrix of data or information. Though in the initial stages, this concept has been adapted by several industries along with government agencies. A common example is that cryptocurrency for the financial sector. Others include identity verification, healthcare databases and legal records. In this post, SGS Technologie describes the benefits of Blockchain technology to the aviation sector.

Automation of processes and payments: The first and foremost advantage is the ability to automate processes and execute them as per pre-defined rules. This can also be applied to financial transactions such as determining loyalty settlements, purchasing travel insurance, paying airport and authority taxes, fees along with other charges.

Improvement of customer experience: Loyalty of existing passengers can be maintained along with the generation of new interest. Special offers can be provided based on travel histories and preferences for seating. Big data analytics can also be used for this purpose. This can enable creating strategies that minimize the risk of error and increase customer satisfaction. An example is a digital wallet which allows customers to use frequent-flyer miles at participating retail merchants.

Tracking Cargos: Blockchain enables reliable and immutable tracking of the location along with status ofpassenger’s bags as well as cargo from the start of the journey until delivery. It hence enhances transparency for authorities and passengers to easily locate their cargo.

Aircraft Maintenance: Throughout its lifecycle, aircrafts may change ownership up to five or six times, which makes the tracking and tracing of information a time-consuming and tedious process. For this reason, an immutable record which lists the maintenance history of the aircraft in a digital setting could be of great value for the stakeholders involved.

Ticket Booking: Blockchain technology can solve issues faced by airlines at times of overbooking. That is, tickets may be booked for seats other than what is available; especially during holidays and festive seasons. With blockchain, data on the exact number of seats available in every carrier of an airline’s fleet can be known. This information can be integrated with ta ticketing application (web or mobile) with which passengers can book tickets. Such as method will increase levels of efficiency and accuracy.

Identity Verification: Efficiency of passenger-identity verification can be increased with blockchain. Details of passengers such as biometric data, required documents and tickets can be stored on a single centralized network. Passengers could simply enter the airport via a verification code, which will remove the necessities of long ques and comprehensive document verification. Moreover, it will be 100% accurate and secure.

Such concepts are already being implemented by a few airline operators as well airport authorities across the United States. You could be the next.

SGS Technologie is a big data consulting and blockchain application development company headquartered in Jacksonville, Florida. Reach out to us for finding out more about the blockchain solutions that our subject matter experts can provide you.

Category : Big Data

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