AVINOC: The Blockchain Solution to the Airline Industry
AVINOC looks to disrupt the aging aviation industry through new and innovating blockchain technology.
Disclosure: This is a Sponsored Article
Blockchain technology has the possibility to completely change how the industry operates. AVINOC looks to specifically challenge the status quo established by centralized booking companies like checkfelix and Expedia.
Since the 1960’s no major improvements or developments have been made. This has led to the market being dominated by three players, and an artificially overpriced system with little transparency.
The technical innovation that AVINOC looks to bring to the industry will help restructure the airline market, making flying cheaper and more accessible to all.
AVINOC’s platform could allow users to directly link to each other, which would remove middlemen and intermediaries that unnecessarily raise the price. Instead, passengers could be directly connected to airlines for the best possible airfares.
How AVINOC Works
AVINOC’s native token, based on the ERC-20 token protocol, will be used extensively throughout the platform. The token will be traded globally and used for writing data into the blockchain, spam protection, and process optimization.
The token will also be used for payments within the platform for tickets ,crews, fuel, airport fees, handling , ATC, maintenance, and virtually all aspects of the airline industry. There is a maximum of 1 billion tokens, 40% that will be allocated for sale to the general public.
Issuing price of each token will be at $0.05, and there may be early bird discounts or other incentives to make sure token buyers register early.
Other services are provided by the platform, including group bookings. Group bookings are quite the hassle, as typically only one account has to book the tickets. Which means users need to arrange payment beforehand, which usually leads to stress and disorganization.
Blockchain Meets the Aviation Business
Blockchain technology would allow users to divide payment for trips, easily distribute itinerary details, and many other potential features. This empowers the traveler to do more, and even offers cost reduction for airlines and operators.
Since airliners must keep record of many details about customers, a good system of storing information is important. Due to blockchains characteristics, airlines could save on fees and time. Blockchains immutability ensures records are accurate and transparent, and impossible to alter once confirmed.
With the airline industry being as competitive as it is, any small gains that can be made to boost productivity or cut costs is taken advantage of. It’s only a matter of time until blockchain technology completely reimagines how flying is conducted.
To learn more about AVINOC, check out their website here. While you’re at the website, make sure to read their whitepaper for more information. For social media updates, make sure to follow their Facebook and Twitter accounts. For business information, check out their LinkedIn. To discuss AVINOC with the team and community members, make sure to hop into the Telegram channel. For more in-depth discussions, AVINOC also has a subreddit.