An announcement made on July 20 from Lufthansa’s Innovation Hub has indicated that the company plan to launch the worlds first ever Aviation Blockchain Challenge.
Over the past few years, we’ve seen blockchain technology slowly take hold in virtually all mainstream industries, and Lufthansa is aiming to apply the benefits and potential of the technology to the aviation industry.
Attracting the worlds blockchain entrepreneurs
Partnering up with SAP.iO Foundry, a company that specializes in machine learning and Artificial Intelligence, the official blog post that presents the Aviation Blockchain Challenge says –
“We want to attract the world’s most talented Blockchain entrepreneurs by providing the perfect environment to ideate and experiment with new business models. The combination of Lufthansa’s innovation ecosystem and extensive industry expertise along with access to SAP Blockchain assets and mentorship will enable you to put your idea in the spotlight.”
From what we’ve learned thus far, the challenge is separated into three different rounds, which include the traveler’s challenge, the airline challenge, and the supplier challenge.
Offering extra value to customers
The general plan for this challenge is for developers to get the opportunity to pitch blockchain related ideas to Lufthansa which would be beneficial to the airline industry.
These pitches can range from, for example, optimizing data across company borders, to merely offering extra value to consumers using benefits linked to ticket booking.
The submission of ideas is open to the public until August 31, with Thorsten Dirks, a board member of the Lufthansa Group commenting –
“Blockchain is one of the game-changing technologies of our time, which we are systematically addressing as part of our digital strategy for the Lufthansa Group. We look forward to discussing innovative solutions and initiating experiments together with our partner SAP at the Aviation Blockchain Challenge.”
The blockchain industry seems to be proving quite popular with companies in the aviation industry, as only a few days ago we saw Boeing announce their own blockchain system that will see them able to use UAV tracking and allocation of flight corridors.
Lufthansa has said that they hope the Aviation Blockchain Challenge will see some fresh ideas come to life, along the lines of document tracking and document digitization.
Time will tell how the Lufthansa aviation blockchain challenge plays out.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.