Potential Impact Of Blockchain Technology On Airline Distribution
Mezi VP Travel Strategy & Partnerships, Johnny Thorsen, talks about the possible impact of blockchain technology on airline distribution and looks at developments in pricing.
Transcript
Johnny Thorsen:So I think we're at the beginning of a completely new phase where blockchain, which is a new technology, will disrupt how distribution in travel will happen. Blockchain is actually a 9-year-old technology, so it's powering Bitcoin, and that's what a lot of people don't realize, that this is mature technology, but now it's opening up and becoming ready and available for travel. So if I'm an airline and I connect to something like WindingTree, I will see dramatic cost reductions, but also new ways of selling my products, such as I only want to see window seats from row 7 to row 11 on the left side of the plane. Show me those flights and nothing else. I think the way fairing is done, so pricing of products, will also change. Today we have these kind of classic buckets of price that are tied to the old way of distributing. Imagine when you can put a fare on every seat that even changes based on who you are and how loyal you are and how much you have used the airline. That's again going to be possible with these new systems at an incredible low cost of distribution.
Copyright policy: All transcripts on this site are the copyright of CAPA - Centre for Aviation. Our reproduction policy is as follows: you may quote up to 400 words of any transcript on the condition that you attribute the transcript to CAPA - Centre for Aviation and link to the original video page. All other use is prohibited. While we aim for 100% accuracy in the transcript, there may be some minor transcribing errors.