When it comes to saving costs and moving business forward into the 21st century, many are tuning to blockchain as the solution. This innovative, young, and powerful technology has the ability to transform industries and reshape businesses.
Air France-KLM – one of the world’s largest airlines – has teamed up with Winding Tree to implement blockchain technology that could save the company millions. Air France-KLM is hoping that its new blockchain system will cut out the need for third parties and intermediaries, meaning that customers end up paying less in unnecessary fees. By reducing fees for customers, Air France-KLM will be able to compete more effectively with low-cost airlines while still retaining its high-end brand image.
Winding Tree Bringing the Power
Winding Tree is bringing its expertise in the travel industry to the table in a bid to revolutionize the way people fly. It has already partnered with a handful of top airlines and hotel chains, meaning its decentralized ecosystem is teeming with ways for travelers to save money. This new partnership for Air France-KLM will give its customers access to a myriad of great travel discounts around the globe.
Other Airlines Join the Blockchain Revolution
It isn’t just Air France-KLM joining the blockchain revolution. Earlier this year AirAsia announced that it is planning an ICO to help balance out its assets and stabilize its stock price. It’s the first airline to be running an ICO in order to raise capital to expand operations.
Over in Russia, S7 airlines have teamed up with Gazprom Neft in order to implement a blockchain refueling solution. This new blockchain refueling method will help to negate thousands of rubles worth of risk from the process, enabling both firms to speed up the process – meaning less delays on the ground.
Amex Helping Travelers
American Express has secured a blockchain patent for its own Proof-of-Payment (PoP) system. This new system will enable Amex customers to be able to interact with travel destinations in an innovative way. One case use of the new technology is with Airbnb. If the customer paid for the accommodation using an Amex card, they can simply tap the card on a drop box or the door to gain access to the property for their allotted rental. This could totally revolutionize the travel industry, as it will rework the often frustrating check-in process.
Air France-KLM isn’t the first airline to join the blockchain revolution and it certainly won’t be the last. The benefits that blockchain technology offers are far superior than any product offered by a centralized service. Air travel and blockchain present some very interesting opportunities, so it’s certainly a case of watch this space.
