Industries are constantly evolving by adopting the recent technology, when it comes to service industry it is a crucial factor to maintain the right balance between customer demand and supply. Blockchain is ready to take over the world with its inherent qualities. Aviation industry is no exception when it comes to adopting Blockchain technology, with qualities like decentralization, security, the technology is stepping into the aviation run way. The technology can make flight operations, monitoring, maintenance, and repair overhaul a child’s task. Hurdles and the long processing time involved with the traditional technologies can be replaced by Blockchain technology.
What is Blockchain?
A digital ledger that is capable of storing all the records in a decentralized manner. Properties like decentralization and immutability makes blockchian a trust worthy platform, they can handle financial operations as well as handling valuable information. Blockchain technology is used to create applications and smart contracts that make system functioning smooth and easy. A series of records known as blocks that are secured with a high end encryption key, cryptography in Blockchain makes it resilient to attacks and modifications from outside.
Blockchain and aviation industry
The inherent qualities of Blockchain technology make it best suited for the aviation industry. Decentralized ledgers that can store information and is totally transparent in operations have added up to the use of Blockchian technology in the aviation industry. The ledger can be used by MRO teams and OEM’s for maintaining flight records, status. Blockchain can store all the information related to modifications, repair and changes in the airplane, this can be accessed by all the aviation crew. These qualities make Blockchain an inevitable part of aviation industry.
No more forged identities
Individuals identity can be forged and used for fraudulent activities, but with the implementation of Blockchain verifying identity can be updated with biometrics. Once an identity is stored in a block then it is almost impossible to change it without other in the network noticing the change. Human errors and physical passports can be eliminated by this application.
Tokens for tickets
The present system of using paper tickets or e tickets can be totally eliminated with the implementation of Blockchain and smart contracts. A tokenized ticket will have its own set of business logic and terms that can be associated with the process of selling tickets and their usage in the value chain. This will also allow people to purchase tickets from different partners globally.
State of the art security
The records of passengers travelling in any particular airline and the crew members of all the airlines should be classified information, if any leak happens from the records then it can lead to unimaginable outcomes. The technology allows a secure passage for all the data to be transferred and tampering with the system will be a next to impossible task. Thus the authorities can rely on an error free system for their everyday operations.
For a frequent flyer the reward points and loyalty programs can reap immediate benefits, it will be possible for them to use their points instantly when it’s credited in real time. These points can also be used in a variety of places by partnering with various companies. Points replacing the role of currency will allow a lot of time saving and payments can be made without any trouble.
A maintenance record will be circulating between manufacturers, traders, service providers, and airlines; this can eat a lot of time and also is prone to errors. Blockchain technology can remove all the paper trouble from the equation and a simple, single will be made available for all the authorized personals. This can be informed to the airline maintenance well in advance and the record will be available with all the updated information. This can save time and will take safety to another level
Apart from this major use cases Blockchain technology can be applied to various aviation departments to make the process transparent and secure. When implemented at the right time this technology can change the future of aviation industry beyond imagination.