Blockchain technology doesn’t seem to be winding down. Etihad Airways, United Arab Emirates national airways, has made use of blockchain technology to further aid in the distribution market as reported by Reuters on 8 August. The news comes after a series of airlines namely, Air France-KLM, Lufthansa, and Air Canada adopted similar measures via the Winding Tree platform.
A Customer-Centric Move
The use of blockchain technology would cut down transaction cost for users and would also allow for the companies to directly publish their inventories to its customers. Etihad’s Director of Digital and Innovation, Tristan Thomas stated that the use of Winding Tree as a distribution platform allows the company to take a rather modern approach to the traditionally dominated distribution market.
Winding Tree’s co-founder and Chief Marketing Officer, Pedro Anderson commented on the issue stating that the company has been running and conducting several tests and experiments on the distribution platform. The sole focus of the firm is to satisfy the need of the customer. The current market system dictates a platform much suited to the need of every consumer thanks to the growing competition. This proves to be an asset for the customer as every company lays out better prices to increase their user base.
Blockchain and the Airline Industry
The use of blockchain technology in the aviation sector has reported a massive increase. Just last October, Air Canada jumped in on the Winding Tree platform. Air Canada’s Director of Global Product Distribution, Keith Wallis, emphasized the use of blockchain technology to appease its clientele. The company aims at integrating the airline’s Direct Connect API with Winding Tree’s public blockchain platform, to enable users direct access to data and information. Cathay Pacific also launched its flagship blockchain project. The project aims at cutting down on paper-backed processes and replacing them with blockchain-backed applications to allow for a much easier interface for its users.