What’s Going On?
Global airline Lufthansa has partnered with software giant SAP to launch a blockchain competition to help revolutionise the aviation industry through crypto.
Why Does It Matter?
The Aviation Blockchain Challenge was created to explore the potential for blockchain technology in the aviation sector, reported Wings Journal. The challenge is designed to attract entrepreneurs with blockchain skills from across the globe.
What Do The Two Companies Expect?
Leveraging Lufthansa’s industry experience and SAP’s blockchain development skills, the challenge will place global blockchain entrepreneurs in front of key decision makers, reported Yahoo Finance.
CoinDesk reported the two firms have launched the initiative as a response to a lack of efforts being made to explore blockchain in the aviation industry.
“It is crucial to ‘filter the noise’ and to find the right starting point where blockchain can deliver clear value,” said Gleb Tritus, Managing Director of the Lufthansa Innovation Hub. “The best-case result would be a blockchain-based solution that fits certain aspects of our IT agenda and infrastructure, our strategic focus areas regarding digitisation, and has a potential to scale and create clear bottom-line impact.
“While many industries have found their first-use cases, the impact on the aviation sector is not noticeable yet.”