Air France-KLM to Use Blockchain Technology to ‘Revolutionize’ Travel Industry
Air France-KLM Explore Blockchain Technology to Reduce Customer’s Costs
The European airline company Air France-KLM partnered with the blockchain platform Winding Tree to explore blockchain solutions and reduce costs for customers. With this partnership has been announced in a press release on October 4.
Air France-KLM is the fifth largest air company by revenue in the world. This is a very important step for blockchain technology that is being embraced by different enterprises from all over the world. With a blockchain system, the airline would be able to offer customers better suppliers since the company will be reducing the number of intermediaries.
According to Sonia Barriere, the executive vice president for Strategy and Innovation an Air France-KLM, blockchain technology will be re-shaping how the travel industry works both for customers and companies in the industry.
Other companies such as Lufthansa, Swiss Air, Air New Zealand, Austrian and Brussels Airlines and Eurowings have already signed partnerships with Winding Tree in the past. Furthermore, this company works with other hotel chains in Scandinavia and the Baltic countries such as Choice Hotels.
Airlines could use blockchain technology in many different fields. It is possible to improve many processes in the industry that would allow companies to reduce costs and improve services. For example, it would be possible to track luggage at airports, passengers, improve miles programs, improve their customer services and more.
There are several projects in the crypto world that have been developing systems to track products on the blockchain. This would clearly reduce the number of luggage lost and the fees that airlines would have to pay for it.
Additionally, there are other projects that are building different reward systems for companies, including airlines.
Another company, the Russian airline S7 has partnered with Gazprom to use smart contracts for aircraft fueling. In the future, other airlines would start using blockchain technology to improve the services they offer to passengers.