Boeing, the leading name in aviation, announced that it plans to make use of the potential of blockchain technology to monitor cargo transport and urban flights that are not manned by pilot or personnel.
In collaboration with an Artificial Intelligence (AI) firm SparkCognition, Boeing is looking to establish a decentralized platform powered by blockchain, which will be able to track unmanned aircrafts that are flying and also allot flying routes after assessing air traffic conditions. Like Uber’s Air Taxi, Boeing plans to start a service of package delivery and flights in the urban areas as well. In order to launch these futuristic services, the giant plans to tap into the immense potential of blockchain that is relevant to this field.
Although Boeing has not revealed to the public the specificities of the blockchain technology it plans to use, it has clarified that in addition to urban air travel and package delivery, they also have plans to use the programming interface for monitoring industrial inspections as well as commercial flights. Technology chief of the company, Greg Hyslop noted that the juncture we are in demands a convergence of technological leaps and fresh popular trends in order to fashion unique and smart solutions, especially for the travel industry, which should adapt itself to the times as quickly as possible.
To respond to the need of the hour, the company is also creating a new subsidiary, the Boeing NeXt, which will make use of Boeing’s Research and Development knowhow in order to enhance the technology for automatic flights and next-generation travel technologies. It will also explore the concepts of hypersonic passenger flights, urban air travel, electrical vehicle take-off and landing (eVTOL), and vehicles for on-demand cargo carriage, among others.
The chief of SparkCognition, Amir Husain, stated that analysts had approximated that the urban air travel and movement industry will have a valuation of roughly $3 trillion and that we will be able to see this industry
creating one of the largest markets in the economy in our life itself.