News JVTech This airline is set to disrupt air travel with new technology
The airline industry is an ever-changing sector, as this recent innovation demonstrates. And yet, this is not necessarily the sector where we expected to see the arrival of this new technology…
An unexpected novelty for the aeronautical sector
Flybondi, a low-cost airline located in Argentina, could upset the market in the aeronautical sector with its new project. To innovate in this very private sector, the company does not intend to base itself on supersonic planes or solar planes, but rather on NFTs (non-fungible token).
Briefly, NFTs are virtual certificates associated with a digital or even physical object (photo, video, document, etc.). These allow, among other things, to bring property rights to its holder. If the general public initially discovered them with the craze around virtual art in recent years, these famous NFTs can prove useful in many areas…
En l’occurrence, Flybondi would like to be the first airline to issue plane tickets in NFT by partnering with TravelX. Based on the exploitation of the Algorand blockchain (network where NFTs are issued), the company could grant more freedom and flexibility to travelers.
The company announced the arrival of this project called “Ticket 3.0” in a communiqué March 29:
“With Ticket 3.0, our passengers will benefit from greater flexibility and better control over their journeys, as they will be able to transfer, rename or assign their tickets in a simple and autonomous way. explains Flybondi CEO Mauricio Sana
Concretely, this approach will allow customers to generate an NFT associated with their ticket when booking the flight. With the NFT in his possession, the passenger can change the name indicated on the ticket. For example, this can be useful if his priority wishes to offer his ticket.
Moreover, this allows its owner to resell the plane ticket as they wish on the secondary marketwithout going through a third party.
A new era for air transport?
While at first glance this adoption may seem insignificant, NFTs could indeed be a game-changer in the airline industry.
Although some companies agree under certain conditions to exchange or even refund airline tickets, the costs associated with this type of procedure can be costly. With these banknotes of a new kind, the user sets his own resale price, from which a 2% fee is deducted.
Far from the sometimes speculative aspects of the technology, by associating an NFT with each ticket, the issues related to ticket resale or the lack of flexibility could become history. In any case, it is the ambition of Flybondi which intends to “change the rules of the game”:
“With this launch, we seek to generate a positive impact in the aviation industry through innovation and an application of blockchain technology,” enthused Flybondi CEO Mauricio Sana.
Thus, this use of NFT technology could be a track of exploitation in order to improve the traditional ticketing system.
However, this is not new and other sectors are interested in it, such as events. For example, the famous TicketMaster concert ticket purchase and resale platform, and even concert halls like the Olympia are currently considering the adoption of NFTs.