Blockchain: The New Co-Pilot in Air Travel
As the wings of innovation flap harder in the airline industry, KLM Royal Dutch Airlines is steering into new territory by embracing blockchain technology. The airline isn’t just taking the scenic route—it’s strategically partnering with the Dutch software startup Unchain.io to revolutionize intercompany settlements. Isn’t it nice when airlines sound like they’re not just about peanuts and turbulence?
So, What’s in the Blockchain Toolbox?
The strategic finance application KLM is deploying won’t just sit on the runway gathering dust. Developed by global enterprise software titan R3, this solution harnesses the power of Corda, an open-source enterprise blockchain platform. This high-flying tech is set to simplify KLM’s accounting processes, ensuring that data is not just recorded but also managed and synchronized like a well-coordinated dance. Imagine your accounting department pulling off a pirouette instead of a faceplant!
The Visionaries Behind the Flight
The bright minds at KLM’s Digital Studio began this expedition into blockchain with a thorough research phase. “We’re transitioning our focus from testing to real-world applications,” said Dominique Vijverberg, a fintech expert at KLM. It’s a bold statement, showcasing confidence that this technology is ready to take off (pun fully intended).
Let’s Talk Numbers: The Cost Factors
In a world where every cent counts, Air France-KLM’s prior partnership with Winding Tree highlighted blockchain’s potential to cut costs by eliminating intermediaries. It’s like ditching the middleman at a yard sale—more profit for the sellers and fewer unwanted haggles.
Fly in Formation with Other Major Airlines
KLM is not the only airline that’s recognized that blockchain is not just a trend; it’s becoming a fleetwide necessity. Cathay Pacific rolled out a blockchain project last year to manage unit load devices, proving that the aviation DNA is laced with a serious tech upgrade. Who wouldn’t want their luggage tracked on a blockchain?”
