While blockchain is still in the early stages of review in the airline industry, two airlines recently took big leaps forward.

Gleb Tritus, managing director of the Lufthansa Innovation Hub, said he believes that blockchain has now passed the hype threshold and is showing potential for practical innovations that would generate value.

The competition will focus on three categories:

Traveler Challenge: Ideas that offer clear added value for travelers and make travel more efficient throughout the journey

Airline Challenge: Airline-specific solutions that improve operations and associated processes.

Supplier Challenge: Ideas that might improve maintenance and supply chain management.

At the same time, Singapore Airlines has made a significant stride forward in its digital innovation initiative by launching the KrisPay miles-based digital wallet that the airline announced this February. The “world’s first blockchain-based airline loyalty digital wallet” was developed through a collaboration between Singapore Airlines, KPMG Digital Village and Microsoft.

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