Air Canada (ACDVF) has partnered with Swiss start-up Winding Tree on a blockchain-based, decentralized open-source travel distribution platform.
Winding Tree is developing this platform for travel distribution to provide greater access to inventory directly from suppliers.
Canada’s Largest Domestic Airline Bullish on Blockchain
Air Canada plans to integrate Winding Tree’s blockchain-powered travel distribution platform with its direct-connect application programming interface (API).
Air Canada is the largest domestic airline in Canada. It serves more than 220 airports on six continents. The air carrier is among the 20 largest airlines in the world and served more than 48 million customers last year.
Keith Wallis, director of global product distribution for Air Canada, said that Winding Tree’s blockchain for travel distribution platform was an innovative project. The airline will integrate its direct connect API with Winding Tree’s public blockchain platform to allow blockchain-savvy users to access its content directly from the source.
Blockchain for Airlines
Blockchain technology can help airlines manage customers’ data in a much secure and efficient way.
Lufthansa, through Lufthansa Industry Solutions, launched Blockchain for Aviation (BC4A) to compile potential applications of blockchain in the field of aviation and to create joint standards for its use.
“It makes sense to use blockchain technology anywhere that transparency and comprehensibility are required, as information in a blockchain can be tracked at any time. A blockchain can be described as a computer without hardware. It is a gigantic database whose network protocols are not bound to a specific piece of hardware, but rather decentralized and distributed throughout a number of different computers. This means that a blockchain cannot be manipulated or hacked, and it serves as a neutral information documentation system,” Lufthansa Industry Solutions states on its website.
Meanwhile, management consulting firm Accenture (NYSE:ACN) believes that blockchain technology is perfect for airlines because it can ==create new efficiencies and services models with it. In a report, the firm said that “the characteristics of the airline industry align very well with the capabilities of the blockchain.”
According to Accenture, blockchain technology can transform ticketing as well as help airlines create improved loyalty programs for travelers. Further, the firm says that blockchain technology ensures data privacy and has the ability to transform maintenance logs, “which at best are in cumbersome databases and, at worst, are in paper binders.”
“Blockchain technology will continue to take flight in airlines over the next decade. Use cases not even conceived of today will become everyday, reducing complexity and costs while improving the travel journey with real-time travel experiences,” according to Accenture.