The aircraft leasing industry is one of the fastest- growing industries globally. A number of factors have resulted in this growth, including but not limited to, a year- on-year increase in passenger traffic, the rise of low-cost carriers (LCC) and the growth of the APAC market.
Given the nature of this capital-intensive industry, it is interesting to note some of the antiquated systems and practices, which are still commonplace. For example, the maintenance of an aircraft is a process that uses cumbersome databases at best and, at worst, a paper- based system prone to losses and errors throughout.
With the rapid rise of digital technologies in other industries, it seems only a matter of time until the aircraft leasing game is affected. To that end, this article will explore the potential benefits of adopting Blockchain technology in the aircraft leasing industry and assess a number of potential use cases, which have a truly disruptive potential for all stakeholders involved.
Source: Blockchain for Airlines and Aircraft Leasing | LinkedIn, Hans Casteels, IBM | September 4, 2018
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