German airline giant Lufthansa has partnered with software company SAP to promote blockchain innovation in the aviation industry through a competition.
The Aviation Blockchain Challenge is open to applications from individuals and businesses with ideas to improve air travel for both customers and staff.
The partners believe not enough is being done to explore the use of blockchain in the aviation industry and hope the competition can improve this. Lufthansa is already working with the ethereum network on a method to integrate reservations and itineraries into a distributed blockchain system.
The Aviation Blockchain Competition is looking for fresh ideas that deal with supply chain, data processing, bookings and incentive programs. Lufthansa hopes to see it bring the aviation industry up to speed with other industries that are already using blockchain tech in day-to-day activities.
Winning applicants will have the opportunity to see their idea used in a pilot project on SAP’s blockchain-as-a-service (BaaS) platform. Submissions will be accepted until the end of August with an aim to select the best ideas by October this year.
The initiative is a positive sign for the growing adoption of cryptocurrencies and blockchain on a global scale. Recently, Saudi Arabia outlined its plans to use blockchain technology to improve its financial systems and Samsung announced it will begin accepting cryptocurrency in a number of its Baltic stores.
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