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Lars Winkelbauer — Blockchain’s Potential to Revolutionize Air Cargo Payment Systems

It includes things like advanced analytics, robotics and artificial intelligence. Blockchain can address various problems within a network. It allows the management and sharing of data. It can also make digital transactions easier. Read more about blockchain in Sustainable Supply Chain Traceability with Blockchain.

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Lars Winkelbauer — Blockchain’s Potential to Revolutionize Air Cargo Payment Systems

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  1. Lars Winkelbauer — Blockchain’s Potential to Revolutionize Air Cargo Payment Systems

  2. Blockchain can be quite helpful in solving a number of problems related to trust, security, control, and openness. These problems exist in the complex ecosystem of the air cargo industry. Most of the big airlines are already testing out new digital technologies. It includes things like advanced analytics, robotics and artificial intelligence. Blockchain can address various problems within a network. It allows the management and sharing of data. It can also make digital transactions easier. Read more about blockchain in Sustainable Supply Chain Traceability with Blockchain.

  3. With blockchain, airlines can make a lot of things simpler. Automate repetitive tasks and payments: This can be used for a lot of different kinds of transactions. It might include billing between airlines and travel agents, figuring out loyalty rewards, buying travel insurance, and paying taxes, fees, and charges at the airport and with the government.

  4. Improve the customer experience: This is where most airlines are putting their blockchain efforts. When members of an airline’s loyalty programme fly on a partner airline, it can be hard, time-consuming, and prone to mistakes. The process between airlines can be made easier and more automated with smart contracts. This can lower the chance of mistakes and raise customer satisfaction. There are a lot of new apps coming out that are meant to make customers more loyal.

  5. Accounting for and balancing payments: When an airline sells a ticket, they often have to deal with more than one person or group, like a GDS, a travel agent, or another airline. This means that sensitive booking information has to be shared. Because of this, there is a complicated network of receipts and payments that needs to be matched up. Blockchain could make these processes faster and easier. It could keep booking information safe, get rid of disputes, and get rid of the need for a lot of work to be done.

  6. Removing intermediaries: Some third parties have a lot of power in the airline industry and charge a lot of money for their services. Airlines are very dependent on these third parties. By cutting down on these third-party costs, blockchain can help network members make more money.

  7. Keeping track: It can be hard to get information about where parts come from and how they get to MRO because the value chain is so complicated. It includes manufacturers, component resellers, airlines, service providers, and regulatory authorities. Blockchain makes the whole value chain clear. It keeps a record that can be checked for where all the parts and pieces came from and their histories. It can also be used for high-value cargo and bags. Those that are handled by many people.

  8. Conclusion Blockchain can thus be really helpful in the air cargo industry. It can find much use in the air cargo payment systems to make things simpler. It can help better track things as well as help keep records. If you are interested in learning more, read Digital Transformation Roadmap: Planning for Success. Source Credit: https://larswinkelbauer.medium.com/lars-winkelbauer-blockchains-potential-to-revolutionize-air-cargo-payment-systems-d3ae165ff896

  9. THANK YOU FOR WATCHING

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