Accenture: Blockchain ‘Perfect Match’ For Aviation Industry
Accenture has come out with new proposals on how Blockchain technology could be a “perfect match” for the airline industry.
Accenture: Blockchain, Airlines ‘Align Very Well’
The global consulting firm released an outline, which foresees Blockchain’s distribution in multiple areas of commercial aviation, stating the industry and nascent technology “align very well.”
“With so many systems in play—airlines alone house data in many isolated systems from passenger service to crew management—data exchange is not always smooth,” the release explains.
And in the airlines industry, not only are operational integrity and revenue generation at stake when something goes wrong, but so is safety and security.
It continues that not just air travel, but the travel industry as a whole has much to benefit from Blockchain, something which has not escaped the notice of other major corporations.
Back in 2014, a flurry of activity from major travel industry players saw both airlines and booking websites such as Expedia start accepting Bitcoin.
Latvian carrier AirBaltic still accepts the virtual currency as payment for the majority of its economy flights, with its near $8 booking fee waived for Bitcoin purchases.
Accenture now seemingly sees an opportunity for major expansion. “The most creative and disruptive possibilities go beyond pure financial transactions,” it says, citing use cases in ticketing, loyalty schemes, security and identity, as well as maintenance.
These areas have practically all been investigated by other Blockchain businesses in the past. The technology has been used to simplify and secure even loyalty schemes before, for example in Dubai, where authorities are aiming to unify the patchwork of schemes in operation.
In terms of security, arguably the most delicate aspect of operations for commercial air travel, the release suggests that,
Blockchain technology with a security wrapper creates a very different and less risky way of managing and sharing […] information through the use of authorized access requirements.
Not All As It Seems…
If it sounds like hot air, however, a caveat is included.
“Even so, airlines must approach the blockchain evolution judiciously,” Accenture adds. “Managing data cannot simply become: ‘Let’s stick it on the chain.’”
Accenture nonetheless has previously struck a somewhat different tone on Blockchain security. In September, the firm unveiled so-called “editable Blockchains” which it said addressed “mischief and other issues, while preserving key cryptographic features.”
Such Blockchains could be edited under what Accenture describes as “extraordinary circumstances.”
“As we focus on new uses for blockchain technology beyond the realm of cryptocurrency, absolute immutability will become both a virtue and a vice,” Richard Lumb, group chief executive of financial services said.
What do you think about Accenture’s latest proposals? Let us know in the comments below!
Images courtesy of accenture, airbaltic, morganphilipsexecutivesearch.com