At least according to Sir Tim Clark.
I mentioned the Airline Industry in my last post, so this tidbit was all the more fitting.
The post from yesterday can be found here by the way:
Basically it talked about how the airline industry is the one of the largest purchaser of oil futures contracts in the world.
They do this to offset price risk associated with the very volatile asset, oil.
This is an example of what is likely going to happen with large retailers around the world as they start to accept bitcoin. They will use the futures products to hedge their risk.
Anyways, on to today's story...
The Emirates Airline President, Sir Tim Clark, said that he thinks the entire airline industry needs to reconstruct their business model.
Specifically, he said they need to go digital, and they need to do it on a blockchain.
The news release in it's entirety can be seen here:
Some of the more prominent quotes from his interview can be seen here:
"Guys, there's a storm coming, and if you don't get on it and deal with it, you will perish. The company of the 2050s will bear no resemblance to the company of 2018."
Those are some pretty strong words!
He followed that up with this:
"Blockchain is a revolution within a revolution. It's not about how much money people are making by mining bitcoin. Instead, the most powerful aspect of blockchain is how it's constructed and the many applications it has beyond cryptocurrencies."
And the most exciting piece...
"It's going to transform everything we do and how you and I interact with each other and things around us."
The rest can be found here:
Not sure about you guys, but that last quote gives me goosebumps!
What was so surprising to me is the age of the man that is making these declarations.
Tim Clark isn't some millennial who has never worked in a large company. Instead, he is a year 68 year old President of a Billion dollar company that very easily could be stuck in the past.
Apparently he too sees the revolution that is already upon us.
Stay informed my friends.
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I just paid for my ticket with a debit card I’d like it if I could directly purchase with Steem or even bitcoin. It would be much more convenient
easy transfer
This is a really interesting development that emphasises yet another use case for crypto! Mass adoption is coming butbits likely to be adoption if the technology not of any particular existing coin etc.
This is probably why Aeron is moonin
Its only a matter of time before blockchain technology powers almost everything in our lives I think!
I am not sure about that, but that sounds good to me. :)
im am so excited to be a part of its conception ;-)
Great time to be alive!
you sure are wright sir! :)
At least there are some visionaries among these 'big guns' to know the importance of blockchain technology.
Hi! @jrcornel i'm here and I read your post, it's really good information about cryptocurrency.
I follow you now.
All industries and businesses must join blockchain before it`s too late. In five years to come I can see blockchain rulling the world. Relationships will be on the blockchai, education will be on the blockchain, religion and politics will be on the blockchain.
Trustless systems will likely be the norm going forward. Lot of jobs about to be displaced. Interesting to see all the applications unfold.
Sharp minded people like Tim Clark with great business acumen are sensig the blockchain revolution arrival... Its like many birds and mammals who sense a natural disaster before its advent.
Haha I am not sure about all that but something like that. :)
Whooooooooooa, a storm coming in the Airline industry and it's related to blockchain technology" sorry for this. We can also called it something like Airline ✈ ✈ blockchain. Hahaha 👍👍
Good post man! I will follow you and upvote ;)
Airlines hate 'hidden city ticketing' - but it's still one of the best ways to save a ton on your flights if you know how to do it.
Great find! The article is full of fear. Companies are seeing the wave coming and every day more and more are getting on board. It will be interesting to see how quickly this transition will need to be and the casualties or fatalities we will see along the way. The big companies are already making their moves and that could spell trouble for some of the smaller players who can’t necessarily afford to make the transition at the same rate. Just in the past 6 months the mindset of major business has started to make a huge shift and once it gets moving it will be impossible to slow down.
Amazing Airline industry on blockchain technology That will be very interesting Thanks for sharing.
That would be nice and we will have a universal rate that we can all relate to, for someone from US a flight of $10 is $10 but the same flight to a Nigerian is 10x350, no considering fluctuating prices of the exchange, but one steem to an American applies same to a Nigerian so it will be really cool.
Most airlines, most of the time, only show up on the newspapers if the news is not that good. But on the IT side they are leaders of the pack using a sort of like blockchain solution for the sellings of the seats. There are multiple websites on which you can book a seat on almost all flights in the world. Now hey just want to speed things up and decrease the costs even more. If you just think of it, aviation is great industry in almost all aspect (except for their employees). Think about the radars, technical inspections of the airplanes, booking systems, safety measures, automatic pilots and so on. They already evolved 10 times faster than the car industry.
So a aviation blockchain ICO would for sure attract my interest!
good post uncle @jrcornel ... storm never past...aha
Great news, thanks for sharing. I believe tourism and airline industry should benefit a lot from Blockchain technology in the future. Because it’s the industry that is supposed to be highly decentralised.
One of us!
This brings to light the larger question of can you decentralize such massive industries like the airline industry. I of course believe yes but how? Well as you say Blockchain could be one of those revolutions that's allows massive centralized industries to become decentralized and people controlled!
I am not sure. Thankfully it's not my job to figure out. :)
encouraging & pleasant!
Thanks for sharing @bitcoin is going blazing like fire because it easy to trade and it convient and can never be steal like paper money.
Nice vision from Tim clark who saw a huge benefits of going into bitcoin particularly .i know the crypto currencies market for bitcoin hasn't beem favourable but statistics has made know that from next month bitcoin would have a boom and advice investors not to sell at a cheap rate at this point in time. And sure many more years to come bitcoin and other viable crypto currencies will serve as a legal tender and this will cause for a big push in value of these currencies. Thanks @jrcornel for this vital info from Tim clark
Very, very interesting and well done. This is exciting world we live in.
This storm hasn't made its way to the photography industry since Kodak announced their crypto. I agree big businesses can be revolutionized by blockchain technology, but its the utility that it serves that is most important. What is the airline using blockchain technology for specifically?
I believe smart contracts may assist baggage claim if they used a NFC chip or RFID, where if they don't match- you may not leave with the bag. However, it would be more efficient for a token to solve the problem and market to the airlines. I don't believe airlines should invest into a field they are not familiar with. Similar to Kodaks situation, they should leave it to the developers.
It wasn't entirely clear in the release... I was wondering that myself.
This revolution is bigger than the oil industry in my opinion, blockchain will change everything in our society, exciting times for enthusiasts! 😁
Yes yes yes
You are right
Nice one from you
Good to have you here
Everytime I see an article like this that mentions blockchain I can't help but wonder what coin they intend to use. Are they talking about starting their own coin or are they going to roll with Bitcoin which is kind of becoming a dinosaur at this point?
Hopefully they will use Steem..... I would also be okay with ADA.
I guess when it comes to something like that it depends on what you got in your portfolio.
Well this is good news to the blockchain community. I think it will be good for me to go look for and invest in this industry before it becomes too hot 🔥. Thanks for the information.
Blockchains will replace most of the old business models and their principle of operation, wich is a good thing.
Let's see how the current opinion-makers will handle it. I can see a long desired shift of power from the current world order (or whatever you want to call it) to the people.
I hope it brings the prices down
I just hope that once the whole world starts adopting crypto- we will all be able to stand there with our HODL bags that were once worth pennies- and now worth a couple extra zeros
I completely agree with this guy. Although...what is he suggesting with the airlines getting on blockchain, that wouldn't also be applicable to every other industry out there? Why specifically airlines? What is he recommending they block on open ledger?
@jrcornel - thanks for posting this great article. I agree with him Bitcoin and other cyptos have the chance to remake many industries and I think that it will eventually. Not only airlines, but other industries like energy and investment companies will be earliest adopters.
Others will follow, not because they want to, but because they have to! The market will demand it. This is a train that is coming- soon I am sure. Keep up the awesome content- Upvoted - Resteemed!
Maybe he had a chat with Richard Branson... Ha Ha!
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Blockchain is one of the oldest inventions invented even before writing. It is a simple ledger with data inserted on shits (blocks in modern computers). I will write a blog about that. So stay tuned!
This guy is real Crypter (citizen of crypto world)!
Awesome post! I invite you to visit our blog and vote us back! And of course to enjoy our content :)
It's a matter of time! I believe government of the and others non governmental body who stand against equality, opportunity and better life for peoples will be force to approve or endorsed it! Central Banks around worlds are against block chain, some believe it's scam and discouraged people.. but I feel they know the truth it's just that they do not want better future for us! Glad to hear this man Tim C. could Forseen what future will look like.. thx for share..
Continue the good work.. @jrcornel
Re-steemed
wow this gave me chills too, I am also really excited about what blockchain technology has in the future for us!!!