Accenture: Blockchain’s inherent security is a boon to commercial aviation, and the revolution has already begun

Recently, Accenture proposed that blockchain technology and the aviation industry are a "perfect match."

Accenture: Blockchain is a “good partner” for the aviation industry

The global consultancy has released an outline describing the applications of blockchain in multiple areas of commercial aviation, which it believes is a “highly suitable” industry for the emerging technology.

Most of the data systems in the aviation industry are isolated, and the efficiency of data exchange is not high, from passenger service systems to crew management systems.

In addition, in the aviation field, once an error occurs, it will not only affect the integrity of the system operation and potential benefits, but also cause serious safety risks.

Accenture believes that in addition to the commercial aviation industry, the entire tourism industry will benefit from blockchain, and many large companies have noticed this.

Reform has begun

As early as 2014, some major players in the travel industry witnessed airlines and booking sites such as Expedia starting to accept Bitcoin payments.

Latvian carrier Air Baltic still accepts virtual currencies for its economy flights, and passengers who pay with Bitcoin can save an $8 booking fee.

Now, Accenture has found further development opportunities in blockchain technology. In addition to pure financial transaction processing, Accenture believes that ticket booking, loyalty reward programs, security and identity verification, and aircraft maintenance are the "most creative and disruptive possibilities" brought by the technology.

Blockchain companies have almost thoroughly researched the above industries. Currently, this technology is used to simplify and secure the process of loyalty reward programs. For example, the Dubai government and Loyyal have cooperated to use blockchain technology to encourage tourists to earn and spend loyalty points, thereby promoting the development of tourism.

Accenture says safety is the Achilles' heel of the civil aviation sector:

The security barrier of blockchain technology, through its authorized access requirements, can create a different, lower-risk way to manage and share information.

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However, Accenture also added a warning at the end of the article to avoid any surprises caused by the concept it proposed.

Accenture added:

Even so, airlines must be cautious in conducting blockchain research. After all, data management is not all right with blockchain.

Nevertheless, Accenture’s previous view on blockchain security is completely different from what it is now. In September this year, Accenture proposed the concept of “editable blockchain” and believed that this concept “overcomes the shortcomings of traditional blockchain while retaining important cryptographic features.”

This type of blockchain can change its content in some "special environments".

Richard Lumb, head of financial services at Accenture, said:

The application areas of blockchain technology that we are concerned with have nothing to do with cryptocurrencies, so absolute immutability can be said to be a double-edged sword.