“Blockchain is the best of technological advancement, which can be used to manage data and operations of the aviation industry in a decentralized fashion.”
Today the consumer needs to know every single piece of relevant information, while he travels from his source to the requisite destination. This has no longer remained part of customer delight, it has essentially become a part of his right to information.
Imagine how secure it will make your travel feel if you have updates on flight maintenance data. This is just an instance of how blockchain can revolutionize the way the airline industry works. Ultimately making the consumer experience highly secure alongside maintaining the data integrity at its place.
All the internal areas of the aviation industry right from the front end bookings till the backend cargo and baggage services, to maintaining the records of flight maintenance, everything can be executed securely and at ease, when blockchain is integrated into the system.
Some of the major issues in the aviation sector in the conventional system:
The involvement of third party agencies for running various processes and data sharing with them is a highly insecure time-consuming process.
Data manipulation risks:
Data stored onto the centralized database is more vulnerable and has a high risk of data manipulation.
Not all the requisite processes are automated in the aviation industry. The manual processes not only make the system slow, and less efficient but are also more prone to errors.
Poor record maintenance:
Record maintenance is at times manual, and if automated, is stored on a centralized database, where the chances of data loss are maximum.
The current conventional system is less transparent, less accessible, and thus less reliable. This also increases the risk of data intrusion.
Partners involved in blockchain network for aviation industry:
In a permissioned blockchain platform, every peer plays a vital role, sharing the same unique hash id. There won’t be any intrusion of data as the system is highly secure and immutable.
The partners involved in the smart contracts for the aviation industry blockchain network include the airline companies, service providers, manufacturers, customers, auditors, buyers, advertisers, and other relevant organizations.
How Blockchain can help overcome the issues and improvise the system:
Modular cargo services and baggage tracking:
Due to data integration and decentralized processes, the cargo and baggage services are maintained at an enhanced level, with data security and faster operations at the place.
Smooth, secure, and faster payments:
Elimination of third party gateways can save on time, making the payment processing more secure like never before, as well as faster in processing the transactions.
Making the overall system cost-effective:
Elimination of middlemen saves a high cost, improving the efficiency of the system.
Enhances customer experience:
A reach to the right to information at various levels makes the customer experience better, achieving customer delight and better feedback on the services.
Even though the airline industry has taken the aid of technology on a larger level, not all processes are automated in the conventional system. Blockchain helps in the automation of all the processes, small or big, wherever possible, with the help of AI and IoT integration.