What do you expect when a bunch of innovators, early adopters and visionaries seek to disrupt their industries? A whole lot of Innovation, isn’t it? One such bunch of innovators at Bastonet are attempting to reimagine the airline and the travel industries –  through ingenious application of Blockchain technology.

Simply put, Blockchain is a huge, global distributed ledger or database running on multiple devices and open to everyone within the Blockchain network. Anything of value can be stored on the blockchain. Its purpose is to ensure a 100% secure, verifiable and traceable database protocol. It not only serves to deliver direct financial value, but also indirect financial value – the entire Customer Experience (CX) that comes from moving data across the ecosystem.

Blockchain technology is still in its infancy. However, as a neutral information documentation system, it has huge application potential. For instance, it could increase transparency in Airline and Travel maintenance.

The Whole Idea

Airlines transport over a million customers and over a trillion dollars worth of goods annually. With so much stake and customer expectations at hand, even minute operational improvements matter. The processes involved in airline maintenance, as also the ones involved in associated customers’ travel experiences, have numerous bottlenecks and inefficiencies at present. These gaps can be effectively addressed by revamping the entire airline and travel business processes on a Blockchain.

Fitting in like the lego blocks

The characteristics of the airline industry—and also the broader travel industry—align very well with the capabilities of the blockchain.

Data sharing among numerous actors and touchpoints are central to these industries. From booking to arrival, players can include airlines, online travel platforms, card providers, airports, immigration, government, hotels, car rental agencies and more.

Each stakeholder requires, collects, stores and often shares traveler and operational information. A web of complex and seemingly endless data reconciliation is really required behind the scenes of every touchpoint of every traveler’s trip.

With so many systems and interfaces in the picture — data exchange is not always smooth. And in the airlines industry, not only are operational integrity and revenue generation at stake when something goes wrong, but so is safety and security.

Possibility takes flight

Now, it’s not hard to see why using blockchain technology for enhanced reconciliation and data sharing is a compelling value proposition for this industry. Some of the most creative and disruptive possibilities:

    • Identity Management: Using secured public ledger information and biometric authentication, Bastonet will enable validation of people’s identity – which would make it impersonation and forgery impossible. The security protocol ensures foolproof passenger and crew data management, since information sharing is executed through authorized accesses by individuals whose imprints on the blockchain network is verifiable.
    • Maintenance/Repair/Overhaul: All state changes in an aircraft’s lifecycle from the initial purchase to every transfer of ownership or lease and maintenance will be tracked on the Bastonet Application — providing an irrefutable record. Application will use Blockchain technology to transform maintenance from paper binders and complicated databases into verifiable information on the blockchain. The application will help the industry ensure that parts procured are legitimate and can offer a reserve immutable record of all procurement of spare parts on the plane, every time it goes through maintenance schedule. Such records will validate time and location and provide information on entities involved in the maintenance work, right from the beginning of the aircraft’s existence. 
    • Ticketing: The Bastonet Application will use the blockchain to tokenize the present ticket and e-ticket and further dematerialized these tickets for irrefutable sharing of information across various touch point of travel. Through the use of smart contracts associated with tokenized tickets, airlines will be able to determine the various preferences of usage, terms and conditions of transfer and sale by anyone across the value chain, in real time and from any location.
  • Loyalty and Air Miles Reward Programme: Air miles as a currency shall be replaced by the BSN token. Instead of earning miles by the conventional process, Bastonet will allow customers to buy them using the Bastone Token, BSN in the same way they can exchange currency today, or could earn them outside of flying alone if they select to be paid in air miles denominated in BSN tokens for services.  In traditional loyalty point’s schemes, travelers often have a long waiting time before they can use their points, with limitation on spending avenues. By tokenizing loyalty points on the blockchain using the BSN tokens, travelers can get instant value by redeeming them on the spot. They can also use them more broadly through a specific user community of partners since these tokens will be traded on exchanges. The BSN tokens will be used in paying for goods and services in a secured and fast way.
  • Other use case areas of the Bastonet App will include:
    • Airport Collaborative Decision Making (ACDM)
    • Airline Ancillary Revenue Generation
    • Management of In-Flight Entertainment
    • Fast Insurance and Compensation Management
    • Flight Planning
    • Chattering Services,
    • Luggage Handling and Control
    • Cargo and Custom Clearing etc.

Further Development announcement and Roadmap: The Developer team has commenced work on this project and application design . The gestation period for delivery of the product is estimated at 18 months, from the date of this ANN. Certain skilled programmers have been identified and the selection process has commenced. Considering the intricacies of the project, abundant care is being exercised by the team to ensure that the best industry hands are recruited into the team to ensure the final product meets the demands of the industry.

Announcement will be made regarding trading exchanges which the Bastone BSN token will be listed. Same applies to bounty programmes for marketing and promotion. Considering the current uncertainty regarding the  status of ICOs, the Bastonet project will not be engaging in any ICO activities. Instead it shall focus on creating awareness through publication of its activities on selected online cryptocurrency platforms.

For more information:

Website: Bastonet

Twitter: @BastonetProject

Project Details: BitcoinTalk

Recommended Reads: