Blockchain and its Application in the Airline Industry - A Call for Action

Abstract

Airlines are operating in an environment of stiff competition and volatility, with their revenues tightly linked to global economic cycles. The airline industry has been going through many challenges with epidemics, financial crises, and a recent pandemic since 2020. The changes in political, economic, social, and technological fronts are dynamic and directly impact the industry profitability. Cybersecurity threats are also on the rise. Under these circumstances, disruptive technologies like Blockchain and Artificial Intelligence play a vital role in providing a differential advantage by increasing productivity and efficiency. In this research, an extensive literature review and Delphi study technique was used to review the benefits and challenges of implementing blockchain and to explore the deterrents to accelerated adoption of Blockchain by airlines in the UAE. The findings revealed that the topmost barriers to adoption are related to people, followed by process, cost/ funding, and then technology. It then recommended a roadmap for blockchain implementation to transition from the current state to the desired state within the airline industry/organization for accelerated adoption of Blockchain. The roadmap in terms of people, process and technology will benefit the cybersecurity/ blockchain practitioners, and decision makers in the airline industry.