Over the years, blockchain technology has been becoming more and more mainstream. While it has found its use in industries ranging from finance, technology, banking, retail and even food processing and fisheries - one industry which has shown a particularly keen interest towards the blockchain tech is that of aviation. Lufthansa has now announced a blockchain challenge - which is all set to bring another major drive of innovation towards the use of blockchain in the aviation sector.
This challenge was announced by Lufthansa’s Innovation Hub, in association with SAP.io Foundry, which is a company working towards the development of machine learning and artificial intelligence technologies. The challenge has simply been named ‘Aviation Blockchain Challenge’. The description of this challenge is as follows:
“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 massive industry expertise along with access to SAP Blockchain assets and mentorship will enable you to put your idea in the spotlight.”
Winners of this challenge would not only get access to SAP’s blockchain assets and mentorship, but they would also get to work on Lufthansa’s pilot blockchain-based project in some capacity, along with other prizes.
This competition is divided in three different ‘rounds’ based on the parties involved in the aviation sector. The travelers, the airline itself, and the suppliers of the airline all need to benefit from the use of blockchain technology. It is essential to understand how this innovation would bring about a positive change in the experience of all the parties involved.
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The traveler challenge
The traveler challenge is expected to result in innovative, blockchain-based solutions which would make travel a more seamless and efficient experience for the travelers. It needs to provide value to the travelers and improve upon their comfort and enjoyment - an overall part of the Lufthansa experience.
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The airline challenge
This aspect of the Aviation Blockchain Challenge is aimed at bringing about innovations which help improve the functioning of the Lufthansa airlines in itself. This includes enhancing the accuracy of operations and improving data-sharing, etc.
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The supplier challenge
The third and last aspect of this challenge is that of the suppliers, who are also an important part of the aviation industry. This is aimed at innovations using the blockchain tech which would make supply chains more transparent and improve communications.
Thorsten Dirks, the CEO of Eurowings and a board member of the Lufthansa Group commented on this Aviation Blockchain Challenge, saying:
“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 last date for the submission of ideas would be on the 31st of August, following which short-listing would begin. Each shortlisted team would get professional mentoring and help as and when needed. After a few more procedures, the shortlisted finalists would be called over to the headquarters of the Lufthansa Innovation Hub where they would have to make a pitch after which winners would be announced.