UN Aviation Agency President: Blockchain Can Offer Tremendous Benefits for Industry April 4, 2019 April 4, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsApril 4, 2019 by Kelly Cromley

UN Aviation Agency President: Blockchain Can Offer Tremendous Benefits for Industry

According to business news outlet AirTrafficManagement.net, the president of the UN’s specialized aviation entity has stated that blockchain technology has the ability to deliver enormous benefits to aviation systems worldwide.

To a global gathering of state officials, aviation and technology experts, the president, Dr. Olumuyiwa Benard Aliu gave his opinion at the maiden conference for the International Civil Aviation Organization (ICAO) Blockchain Summit and Exhibition in Abu Dhabi.

Dr. Aliu cited that with worldwide volumes of air traffic expected to double over the forthcoming 15 years, blockchain technologies have significant ability to minimize present asset stress while maintaining quality in the face of rising demand.

The ATM news presenter has pointed out that with a sharp rise in air traffic, ground, passenger, ticketing and cargo handling operations will ratchet up. This will lead to an increase in tracking, administrative and certification criteria.

In this regard, Dr. Aliu stressed that:

“Blockchain has the potential to virtually exclude loss, distortion, or forgery of vital log data in all aviation sectors where certificates are issued and controlled.”

He also supposedly mentioned that blockchain integration can be envisaged across nearly all aviation stretches where intricate documents— critical to safety — have to be generated and revised including workforce endorsement, aircraft servicing, operational authorizations and cargo declarations.

The president of ICAO also supposedly secluded traveler identity verification as a key area where blockchain can offer advantages to the aviation sector and governments around the world.
Because of its potentially groundbreaking effect, Dr. Aliu emphasised that technology assimilation is distinctly possible to offer the industry with intrinsic challenges:

“The aviation system today relies mostly on human agents or intermediaries to assume validation activities, and so we can foresee that the integration of blockchain […] in support of a state’s aviation safety oversight system, for example, would likely require substantial adjustments to related regulations, procedures, and responsibilities.”

He thus emphasised the necessity to alleviate cyber risks and make sure that investors and states cooperate to create a rigorous worldwide cyber security game plan where blockchain— and smart contracts in particular — perhaps be used to handle crucial civil aviation security processes.

As reported earlier, the United Arab Emirates (UAE) was principally chosen as the hosting venue for the ICAO Summit due to continuing efforts by domestic authorities to enact blockchain at national level in different sectors of economy. The event takes place under the power and influence of the Crown Prince of Abu Dhabi, His Highness Sheik Mohamed Bin Zayed Al Nahyan, and participation from the Minister of Economics of the nation as speaker.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.