Blockchain technology has been the hype and the most talked about topic around the IT industry. All one hears these days is that every company is switching to blockchain technology or the least trying to adapt to this technology within the business. Travel industry in this case is no such exception. The constantly growing technology has information stored in known as “blocks” which is chronologically designed.
With blockchain technology there is a proper audit trail, once the information is stored in a blockchain it called be deleted without every data owner’s permission. One of its biggest advantage is that blockchain is so transparent in nature along with that the data is very accessible yet secured at the same time.
The features of blockchain technology such as durability, consistency, security, etc. is what makes it different from other traditional technologies. When you remove the idea of Bitcoin from blockchain technology, the technology which is left becomes like an untouchable idea. Blockchain technology has captured a major part of the industries and travel is one of the most essential.
The capabilities of blockchain technology matches perfectly with the the travel industry moreso, airline management. Blockchain has provided a platform which offer easy transfer, data collection in systematic which means getting information is easy, better online travel platforms, etc.
The role in the airline industry
Enhanced reconciliation becomes easier with blockchain technology. Data sharing is also a fantastic value proposition in this industry. Blockchain in travel goes beyond just normal financial transaction which brings creative solutions: –
- Loyalty: When you think of airline travel, loyalty is a big word. Usually the traditional loyalty schemes are those in which the traveler has to wait until he/she can use them. Apart from this, these loyalty points are limited to where you can travel. Using blockchain technology, loyalty bonus points can easily be tokenized. This indicates that travelers can redeem those points instantly.
- Security and identity: Data privacy is a must and protecting data is even more important. Airline management includes flight manifests, passenger records and a crew information. Blockchain technology indulges security wrapper that helps in creating a very different information. This is order to keep the entire data properly protected that further helps you to manage and share information within an authorized access.
- Data maintenance: Blockchain helps to keep customer data safely and also keep a virtual copy of the same record. Blockchain technology can transform maintenance logs that helps in better aircraft safety as well.
- Ticketing: The entire idea is to dematerialize ticketing using blockchain. Rather than printing information on paper, it is better to use an e-ticket which has securely kept in the database as well, if needed. This also helps to sell ticket from anywhere in the world on a real time basis.
Blockchain technology has certainly changed the mindset of the people. Travel businesses look for a reliable travel portal development company that helps to build application using blockchain technology that directly boosts your business. This helps you to improve to reach great heights.