How Blockchain Technology Can Improve Aviation Industry ?

The Subject of Debate in this day and Age is Blockchain Technology. The technology that has captured the interest of multiple businesses like Healthcare, Insurance, Supply chain, Banking, Sports, Tourism, Digital art and a lot more in the queue. Hence the Aviation industry is no more exception here. The Blockchain is also being used to address climate change issues, like carbon emissions.

Blockchain is the fast emerging technology in the Aviation industry, paved its new waves of opportunities like transparency maintenance, Data Security, boost efficiency and accuracy levels.

The Year 2020, will be a significant milestone for the Global Commercial Space ecosystem with steady investment in new and existing space technologies using blockchain. Actually, the Aviation industry is a rapid growing, vast, complex, and interconnected one.

Stakeholders in Aviation Industry including Airports, Airlines, Aircraft Manufacturers, Airspace technology providers are partnering together to explore blockchain-based capabilities.

Challenges Faced by Aviation Industry

As it is being the fastest mode of Travel, the Aviation industry is considered as a preferred mode of transportation and thus creates revenue for the economy. With an increasing number of passengers, the demand for new commercial aircraft may reach above 4000 planes over the next 20 years.

Information Maintenance

Nowadays most of the Airlines Usually sell paper-based tickets and also maintenance paper-based records. Some Airline Companies might have issue Electronic tickets. Hence here the maintenance of records may lead to delay and possibility of data breaches.

Even though if an Organisation adopt digital technology, all those details will be stored in a centralized database. Then the stored data or records in multiple databases cause insufficiency, inefficiency and lack of transparency.

Safety and Comfort

In Aviation Transport, the mandatory process of security checking will be carried out. And thus the industry has the responsibility to safeguard the passenger’s personal information against data attacks.

In order to overcome those issues, the industry has to take prior security measures of ensuring the involvement of no third parties or hackers.

Slow Investigation

The Supply chain in Aviation Industry encompasses multiple players which include Manufacturers, element traders, Airlines, Service providers and monitoring authorities. Each of these players used to store the information’s in a private database or physical ledger.

This leads to the slow process of gathering aircraft information and components.

Baggage Tracking

The baggage tracking is a matter of loyalty in Airlines. To claim their baggage the passengers need to confirm their identity and have to wait until the baggage goes on a conveyor belt to the handling system.

Therefore the details about the passengers and their baggage should be maintained digitally.

Hence to Optimize the performance the companies that manufacture, operate and service aircraft might require Artificial Intelligence, 3D Printing, Tools and technologies. So here came an Avant grade Technology called Blockchain

Read More about>> Blockchain In Aviation

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