Blockchain Technology: A Silver Bullet for Aviation Industry

Industrial and Manufacturing growth is all about implementation of modern and advanced technology. The service industry is facing lacking and ever-increasing in demand from the customer, and the need to establish a balance between demand and supply of modern technology thus it has given rise to use of advanced technologies methods like Blockchain. Well, if you have thought that Blockchain only revolves around transactions then, This is the news for you. Blockchain Technology in the aviation industry is the latest addition to this series. This technology despite of being in infancy has created a revolution in many sector like Healthcare, Manufacturing, Supply Chain Management, Banking, and Financial Services. Now this is the time for the Aviation Industry to gear up and fasten the seat belt with Blockchain Technology. Blockchain cannot be manipulated or hacked, and it serves as a neutral information documentation system.

Why Services must required for the Aviation Industry?

Blockchain Technology is a digital ledger that stores digital records of information in a decentralized manner. These records can are used to contain financial as well as any other valuable information. Blockchain Technology for aviation industry holds numerous abilities for applications. Because of its capacity of being decentralized, blockchain’s feature of putting away data on an advanced record makes it very popular and safe among the aerospace industry. In addition to this, other vital information like customer data, booking, payments, airports security, immigration, hotels, etc can also be stored on the blockchain.

Use-cases of Blockchain Technology in the Aviation Industry

Identity Management: Blockchain Technology can be used with biometrics and mobile devices to verify the identity of the passengers. This could enable a smoother and better experience for the passenger, as compared to the verification of physical IDs at multiple checkpoints.

Supply Chain Tracking: Blockchain Technology could have beneficial effects throughout the aviation supply chain. The shared database that blockchain provides would make it easier to track quality and compliance for products and components from manufacture to implementation.

Data Security: Blockchain Technology could be a great help to address cybersecurity and privacy concerns of the aviation industry. This technology can also help to regularize and govern apt use of drones by storing information about the drone and its operator and securely distributing it to all appropriate parties. Passenger records, as well as crew information of airlines, can easily be kept secure to avoid any mishap and misuse of identities.

Check-in Through Tokenization: Presently, airplane tickets are either electronic or paper-based. With the execution of Blockchain technology, the need for paper tickets can be completely abolished and tokenization of e-tickets would be possible through smart contracts.

Curtail in Maintenance Cost: Blockchain Technology has the potential to revolutionize the maintenance process of airlines. From maintenance to repair and overhaul suppliers to flight operations performance monitoring. It can also drive down the huge cost of plane maintenance. Further, airlines can avoid running wasteful work.