Growing Airline Interest From The Blockchain Council
Blockchain is an interesting development in commerce and currencies. Increasingly, further developments such as Smart Contracts and other types of Blockchains are beginning to resonate in aviation. Enjoy this article from the Blockchain Council that discusses early use possibilities in the airline industry. For example, Lufthansa is already exploring the possibilities with their Blockchain for Aviation (BC4A) initiative. Here’s a quote from the article:
“When it comes to the aviation industry, then the area where you can find this technology creating wonders is the maintenance process. Functions like flight operations performance monitoring, aircraft components, Maintenance Repair and Overhaul (MRO) can reap benefits from this technology. Providers could also benefit from the use of this technology. An example of this is the Blockchain for Aviation (BC4A) initiative by Lufthansa Industry Solutions. Compiling potential applications of Blockchain in aviation and creating common parameters of use is the prime objective of this application.”
Avi8ion provides MRO Network.com’s view of this growing use case.
Interesting article in St Patrick’s Day (3/17) edition of the Wall Street Journal. It looks like the big accounting firms are interested in “auditing the auditors.” Does this spell trouble or legitimacy for the Blockchain? Any thoughts on how this applies to global commercial aviation?
Another Wall Street Journal article on March 11, 2018 titled “Blockchain May Offer a Resume That You Can Trust” casts another possibility for aviation. If all of our “transactions” in the aviation industry are recorded and verified true instantly, how will that change our normal course of business? With certified and audited transactions throughout all processes, what future role with regulators play? If actions are already verified, what are the areas regulators should more appropriately focus upon? And back to the WSJ article, you receive a pilot or technician candidate resume that’s already had qualifications, employment history, licenses, flight time, etc. already verified. Does an interview truly evolve to merely a decision on corporate “fit”? Interesting times ahead.