Business
Lufthansa to Invest in Blockchain
The aviation industry is next in line to implement the technology
Blockchain appears to have caught the interest of Lufthansa, the largest German airline. The company recently announced a competition in partnership with SAP to find ideas to use blockchain technology in the aviation industry.
This is not the first time that a company has shown interest in blockchain technology which is now being used in different fields.
We have seen how the Indian government is using blockchain to combat fake drugs, and it looks like the aviation industry is next to jump the bandwagon.
The competition called the Aviation Blockchain Challenge was announced on Friday, July 20. It intends to seek new ideas on how blockchain can help the industry. Both the firms intend to join hands to push ideas that they find useful.
The Two Companies Truly Want it To Be a Joint Effort
The two companies have agreed that there is a lack of emphasis on the use of blockchain technology in the airline industry, especially when compared to other sectors.
“While many industries have found their first use cases, the impact on the aviation sector is not noticeable yet. We want to change that together with SAP and see substantial potential in our industry to utilise blockchain and other plays of decentralised networks,” Lufthansa said.
According to Lufthansa, the competition is mainly about finding ways to improve three areas: data procession, flight purchasing and booking, and supply chain. All applications must fall within these categories.
“The peak of inflated expectations is slowly, but surely coming to an end and blockchain is starting to generate value,” said Gleb Tritus, MD of the Lufthansa Innovation Hub.
This is not the first time that Lufthansa is trying to make use of blockchain technology. It had earlier announced a partnership with an ethereum blockchain designed to find a solution to put customer data including reservation details on a distributed network. While not much is known about that project, this new competition seems to have a lot of scope.
Application Process
Candidates will have to go through multi-stage selection process. Handpicked candidates will be provided mentoring by experts. Final pitches will be held in October.
Ideas that get approved will move to the pilot projects stage which will make use of SAP’s recently launched blockchain-as-a-service platform.
Even if you only have five minutes, take advantage of them.
purchase azithromycin without prescription buy azithromycin 500mg online order gabapentin 800mg online cheap
Admiring the dedication you put into your blog and in depth information you offer. It’s nice to come across a blog every once in a while that isn’t the same old rehashed material. Great read! I’ve bookmarked your site and I’m including your RSS feeds to my Google account.
whoah this blog is magnificent i love reading your articles. Keep up the good work! You understand, a lot of individuals are looking around for this info, you can help them greatly. |
You’ve made some really good points there. I checked on the net for
“강남안마”
additional information about the issue and found most individuals will go
along with your views on this site.
I was impressed with the wide selection of MAN trucks available at amcauto.co. They had something to suit every need and budget.
Hi my family member! I wish to say that this article is awesome, great written and include approximately all vital infos. I¦d like to look extra posts like this .
whoah this weblog is great i love studying your articles. Stay up the good work! You understand, lots of persons are looking around for this information, you can aid them greatly.
It’s really a great and useful piece of info. I am satisfied that you just shared this useful info with us. Please keep us up to date like this. Thank you for sharing.
ivermectin 3mg tab stromectol medication prednisone 20mg pill