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After The Flight: Would You Reconsider The Blockchain Technology?

Pankaj Mittal, COO, Global Blockchain Foundation

Pankaj is currently the COO for a stealth mode startup in Blockchain space. He carries over 20 years of experience in IT Strategy, Digital IT Operations using AI, RPA, ML & Blockchain & had worked with companies like SLK, Vodafone & Tata. He is a Blockchain evangelist and is a regular speaker at multiple technical & Security conferences in India. He is also an Angel Investor with over 10+ companies in his portfolio & is based out of Pune.

Driving in the technology and a whole new era behind the mega structures, we all are fascinated with this new term in the market called Blockchain. Blockchain is a simple infrastructure with an open source bounded by nothing but a decentralized system. Its salient features, which make is unique are :

• It is simply a type of database which is running a distributed ledger system around the whole cloud of internet.
• It could be public, private; Permissioned or open; limited or otherwise – that depends on the specific use case
• Every node in the ledger carries a copy of the data
• No single point of failure
• No down time
• Data is immutable, and cant be altered once stored
• Data stored through hashing, which ensures the security and tamperproofness, as even a small change will alter the resultant hash
• Each record in the database {block} points to a new block, thus creating a chain

Now technology is always something unstoppable innovation and now used vividly in the business empire. Blockchain single-handily gives a new solution to various industry verticals and creates value in areas such as transparency, data security, logistics and process simplification, and even regulatory compliance. Not only this, blockchain technology is also being used in different and fascinating firms, including travelling agencies and several other enterprises. It is evident that in coming era blockchain will mark the latest trends, considering security and flexibility to different platforms.

Talking about the vision, then it’s just not about being encrypted by this huge technical aspect, there are several important ways it is being used.

For instance, in the traveling agencies and firm Block chain processes serve as a fundamental authentication layer for biometric-equipped mobile and wearable devices. This will make a passenger's experience more contented, quicker and more gratifying. The easiest ways to explore and begin with any service, to verify your identity, or to purchase any travel product this is going to be a Ciliary to your journey forever.

Now let’s cover the vision from ancillary trip services and imagine from a passenger’s outlook, going from home to the airport for a flight, then from the destination airport to your hotel and straight to your room without standing in a single line or sharing your personal information. Regulating regular handbill and loyalty plans and tracking baggage can also be a staircase to heaven, using block chain technology as the information ‘connector’. Hence this is not the end or limitation, it has ore to offer than mere small exchanges.

Modifications can’t be caught or made overnight, but evolution could run the time horses, that’s how this engineering science is being implied all over are comforting minor steps like performance pressures, mobile broadcast, quick third-party innovation, mounting customer expectations and vague marketplace economics. These facets will force airlines and travel companies to reconsider their business models and find a home in the block chain if they are to build and keep a robust, market-leading brands.

Blockchain Singlehandily Gives A New Solution To Various Industry Verticals And Creates Value In Areas Such As Transparency, Data Security, Logistics And Process Simplification

Blockchain technology based solutions are being researched and developed across various industries and applications and with an increasing amount of success and investor capital backing behind them. Approaching the end of 2018, we observe yet another sector seeking to benefit from the cryptography based protocol—the tourism industry.

The beneficial use of this could be distance mapping while just sitting in your comfort zone. Blockchain in tourism will enhance the tourist services while ensuring security is not compromised. Why so confidential and why to trust what is written here?

Putting some more examples:

• Spanish blockchain startup Amadeus. In 2017 it released a whitepaper that outlines four possible use cases for the blockchain: optimizing customer loyalty programs, real-time baggage tracking, simplifying contracting in tourism and improving the identity of a person during a trip.

• Another is Avinoc, an Austrian-Hong Kong aviation start-up which is planning a booking platform on Blockchain for the optimization of empty flights. First of all, the focus is put on a business flight, after which one looks at the larger airlines.

Reducing empty flights not only saves costs but also protects the climate. This seems to be well received on social networks, because Avinoc already has more than 150,000 fans across various platforms, although founder and his crew started just a few weeks ago.

Concerning the mentioned examples, now they are coming up with applications where the database is based on the decentralized blockchain technology and thought to pretend as a B2B distribution network for tourism services. We are living in a world where blockchain technology can fast become a backbone to the whole empire of human web scenario, and creating the impossible factors fearlessly.

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