Blockchain Partnership By Air Canada-The blockchain is in the air! Surprised? It is indeed true in the sense that the industry which has adopted Blockchain and is now incorporating it into its operations is the Aviation Industry.
Recently, Air Canada, one of the largest airlines in the world and the largest airline in Canada has announced its participation in the blockchain based aviation platform. Which is built by Winding Tree, a Swiss blockchain startup.
Air Canada was established in 1937 and provides scheduled and chartered passenger flights and freight air transportation. In 2017, Air Canada carried 48.1 million passengers. Which was an increase of 7.3 percent from that of the previous year, as per the company’s 2017 yearly report.
The Director of Global Product Distribution for Air Canada, Keith Wallis said:
“Air Canada recognizes the importance of leveraging this next generation technology. We plan to integrate Air Canada’s Direct Connect API with Winding Tree’s public blockchain platform, giving blockchain-savvy users the ability to access our content directly from the source.”
Air Canada is interested in the decentralized open-source travel distribution platform created by blockchain travel ecosystem Winding Tree. Through the coordination of another blockchain platform, the companies hope to enhance the distribution and sale of air travel products while giving access to inventory straightforwardly from suppliers.
In August the Australian Brisbane Airport Corporation collaborated with the TravelbyBit advanced cash payments platform. Hence, to dispatch “the world’s first computerized money benevolent airplane terminal”. And effectively executed a blockchain-supported purpose of-sale system in local tourist towns.
What’s in it for the Aviation Industry?
Blockchain Partnership By Air Canada-Aviation companies around the world has been slowly incorporating blockchain in their operational processes both to enhance travelers’ understanding and to advance supply chains and logistics. This month the European carrier holding company, Air France-KLM, also partnered with Winding Tree. Which lowers costs for the company’s customers by removing intermediaries.
Intermediaries are the biggest problem for the aviation industry. As lots of money is spent on them in order to get sales through their channels. Another airline company from France has also commented on the reduction in costs for intermediaries. Due to the adaptation of Blockchain in their processes. And Russia’s biggest domestic airline, S7, has started selling flight tickets through ethereum’s blockchain: Russian Airline Starts Using Ethereum’s Blockchain in Live Production.