CRYPTOMARKET

AirXcoin empowers the Airline Business world

  • by Ashendra Liyanage
  • July 16, 2018
  • 0

A paradigm shift for the Airline Industry

airXcoin’s innovative vision brings a revolutionary change to the Airline industry and is a step ahead in the air travel world. What is interesting is that the airXcoin model not only embraces the new digital era with ease, it also offers a technological strategy that boosts productivity, efficiency and convenience. Its distributed ledger technology alleviates the heavily process driven aviation industry from unnecessary high-cost procedures. It provides concrete solutions to attain profit and diminish loss. airXcoin enables a decrease in business costs and spending for all those who adopt and invest in this state of the art digital platform. The advent of this new concept will allow the air travel trade to no longer labour with numerous intermediaries within its working wheels. Instead, it will allow direct control of commercial transactions through airXcoin’s dynamic distributed ledger technology.

airXcoin provides a fully constructed digital ledger system contributing towards an airline business world of convenience. The UK based company has specifically developed, for the airline industry, a blockchain platform-as-a-service product with decentralized applications as plug-ins.

Today there are over 5000 airlines worldwide with the travel and tourism industry considered as one of the world’s largest industries. The airline trade is continuously upgrading and overhauling their operations and management through twenty-first-century innovations in technology. It has made immense progress from a paper-based system to the more recent developments in electronic ticketing, RFID baggage, virtual boarding passes and more, yet so far, they represent the new ways of doing the same old things. However, though there have been incredible technological improvements to aircraft manufacture and flight operational performances through the years within this industry, the air travel commercial sector still requires an unceasing revolutionary change in its current digital devices and tools. airXcoin fulfils this requirement.

airXcoin reconstructs the air travel industry ecosystem by using blockchain technologies and supporting platforms. The UK based business will in a few months unveil its decentralised platforms and will revolutionize the industry’s products and services in the travel life-cycle by using forward thinking digital platforms never anticipated before.

How airXcoin works
airXcoin, also known as aXc, is a bespoke platform with a series of decentralised applications that span the entire air travel life-cycle. It provides transparency, security, cost savings and ease of use to both suppliers and consumers. aXc brings together key air travel partners and customers, eliminating intermediaries altogether. The technology will help industry players improve the customer experience – without third parties – from the beginning to the end. This will include flights, hotels, duty-free, taxis, onboard meals and entertainment, frequent flyer rewards, compensation, cargo and baggage.

The platform will assist airlines to save time and cost by processing payments directly and instantly to the airline’s bank account without the need for the old-fashioned, process driven, complex, high cost of the IATA Clearing House model currently in place (IATA -International Air Transport Association). The founders call this revolution the ‘New Paradigm’ that will bring the airline industry into the 21st century.

The new paradigm will revolve around blockchain technologies, Smart contracts and aXc tokens. Blockchain meets these challenges by providing security and compliance using decentralized distributed ledger technology. aXc blockchain technology is built from the bottom up specifically for the air travel industry. The smart contracts and blockchain will solve both current and future challenges.

The added value for customers will come from Ease-Of-Use, where multiple transactions can be done with a single swipe on a smartphone, without the need to use a physical wallet, credit card or cash.

Another key product of the company is the one-stop air cargo booking, tracking, tracing and customs clearing platform, using smart contracts. The platform will deliver much-needed transparency, security and accountability to the air cargo sector.

About airXcoin’s Team
airXcoin was founded by a group of aviation veterans who teamed up in 2017 with blockchain experts from Silicon Valley. The team has over 300 years of combined industry experience, in areas such as airline operations, IT, finance, air freight, passenger, aircraft leasing and purchase, fleet planning, network planning, ticketing and reservations, loyalty programs, revenue management, revenue accounting, sales, marketing, branding, PR, in-flight services and e-Commerce.

The founding group have worked in senior positions for some of the largest global airlines in numerous locations around the world including USA, UK, Europe, Central Asia, SE Asia and Australia. Experts in contract negotiation, with significant development experience, the stalwarts have designed and implemented turnaround strategic plans for several flag carriers.

The company has recently brought in Ismail Malik as their Chief Advisor, a well experienced ‘social engineer and PR Renegade’. He is the Editor-in-Chief of ICO Crowd and has over 20 years’ experience in technology-related start-ups and entrepreneurship. He is a thought leader on distributed ledger and smart contracts and a recognised expert in the blockchain field.

Ismail is also the founder and CEO of Blockchain Lab, ‘supply chain on blockchains consultant’ for Chainx, crafts smart contracts on the blockchain for SmartLedger, retired co-founder of the Credits protocol, and former director of the Ideas Lab for College Space. He is a man of many talents, including a professional mastery of 5 languages, has a wide range of skills & expertise relating to blockchain & crypto, and regularly speaks at blockchain events. Ismail is also an Olympic Cricket Lobbyist.

Ashendra Liyanage, founder and CEO of airXcoin said: “This is a unique opportunity for airlines and travel partners to modernize their processes and embrace a more secure and cost-efficient solution. Multinational corporations such as Boeing and Airbus as well as leading global banks have introduced blockchain and smart contracts into their business framework. It is the perfect time for airlines to follow”.

Ashendra went on to cite a recent interview with Business Insider by Sir Tim Clark, President of Emirates Airlines, who gave a stark warning to the airline industry that if they don’t embrace blockchain technology, the airlines that don’t, will perish. The founder’s core passion and vision play a key role in converting the airline industry to embrace the effective new digital economy, of which airXcoin is one of the key vehicles aXc is currently in discussion with various industry partners on forming joint ventures to expand the technology beyond the air travel life-cycle. The aXc team will be delighted to hear from interested parties who would like to be a part of this revolution. For further information or media enquiries, please email: info@airxcoin.com or ashen@airxcoin.io

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Founder and CEO of AirXcoin