First blockchain-powered airline tickets issued on scheduled flight from Dusseldorf to Luxembourg
Hahn Air has become the first airline to issue a real-world ticket enabled by blockchain technology.
The ticket was issued by the German carrier on the open-source travel distribution platform Winding Tree. Hahn Air has also become the first airline to fly passengers holding blockchain-powered tickets on its scheduled flight from Dusseldorf to Luxembourg last week.
First “blockchain passengers”
The first “blockchain passengers” were Maksim Izmaylov, Founder of Winding Tree, Davide Montali, CIO of Winding Tree, and Frederick Nowotny, Head of Sales Engineering at Hahn Air (pictured).
Blockchain is a method of storing records, or “blocks,” which once created are difficult to change. They are secured using methods such as cryptography or digital signatures. Each block contains a cryptographic hash of the previous block, a timestamp along with transaction data to retain its integrity.
Using the Winding Tree platform, Hahn Air is able to list inventory, manage reservation requests, and receive payments once the booking process is complete. Accepted payment methods include cash, credit card, or cryptocurrency (LIF token or Ether).
Advantages of blockchain for airlines
Hahn Air says blockchain technology holds many advantages for the different parties involved in the process of booking an airline ticket:
- It is open-source, meaning all market participants such as airlines, travel companies and distribution systems can easily connect and exchange transactions.
- All market participants can directly interact with each other and perform transactions without intermediaries thereby reducing costs.
- It is 100% secure. All of the necessary information is stored in a decentralised ledger which is verified by millions of sources and therefore cannot be changed or tampered with.
Frederick Nowotny, Head of Sales Engineering at Hahn Air, said: “We at Hahn Air are constantly exploring new technologies and we are proud to now demonstrate our technical capability to issue blockchain-powered Hahn Air tickets. We are pleased to be partnering with Winding Tree, the most established company when it comes to distributing travel inventory in the blockchain. Our goal is to investigate and monitor the opportunities this technology holds for travel distribution, even if widespread acceptance is still a vision of the future.”
Maksim Izmaylov, Founder of Winding Tree, added: “While blockchain technology is currently almost exclusively associated with the cryptocurrency bitcoin, it bears great potential for all industries and endless applications. It will have an enormous impact on all areas of economy and commerce over the next decades. We at Winding Tree believe that blockchain will have the power, like NDC, to fundamentally change the face of travel distribution. With a broad knowledge, an innovative mindset and an unparalleled network, Hahn Air is the ideal partner for us.”
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