Swiss Air planning to use Blockchain for managing airport take-off slots
SlotMachine, an EU-funded project uses blockchain technology to create a marketplace for airlines so that they can exchange the runway takeoff slots. The project that was started in October 2020 will now run until the end of 2022.
The project requires a consortium of air traffic technology firm Frequentis, EUROCONTROL. It coordinates air traffic control cross-border.
Air traffic slots are not for takeoff timing. In fact, they regulate the landing time and flight route.
Whenever there is air traffic congestion, the airlines exchange the flights so that there is no delay. These internal swaps are quite straightforward, but it is not easy to exchange multiple slots. Hence, as of now, slot swapping has been limited to two flights only.
That’s where SlotMachine comes in place. SlotMachine offers a marketplace for companies that trade departure timings, using automated transactions. And developers also feel that introduction of SlotMachine can make use of airport resources effective, fewer passenger delays, and increases airline efficiency.
Slot Machine’s blockchain technology uses multi-party computation (MPC) to enable higher levels of data privacy. The airlines will not be able to access other companies’ data and can’t see what competitors are bidding on.
Currently, there is another solution in development by SESAR for Air Traffic Flow Management (ATFM) slots, but the blockchain solution needs to be more flexible and remove the need to disclose confidential information.
Did you know SlotMachine has received $2.3 million of EU Horizon 2020 funding out of a total budget of $ 2.6 million?
No doubt, SlotMachine introduces a new blockchain technology application for the aviation industry, but the technology is already being used in several other solutions.
In late 2020, the French aerospace contractor announced the use of blockchain technology to trade aircraft parts.
The airline industry has also started to use blockchain technology for digital health startups.