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Blockchain – What will it mean for the travel industry?Juan Iván Martín – IATARome - 18th May 2017
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1. What is
it?
2. Aviation
use cases
3. What’s
next?
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Blockchain: what is it?
Source: Peter Steiner- The New Yorker - 1993
“On the Internet, nobody knows you’re a dog”
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Trust without intermediaries?
Blockchain: what is it?
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
$2
$2
$2
$150
$2
The truth: Henk gave $2 to Juan Ivan
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
Account balance
Henk $5
Juan Ivan $8
Houman $6
Claudio $9
$2
$150
$150
$150
$150
The truth: Henk gave $150 to Juan Ivan
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Potential benefits
Blockchain: what is it?
• Less intermediaries:
cheaper & faster
• Single source of truth:reconciliation, accounting,
invoicing and settlement
• Automationsmart contracts to automate
many back office tasks
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1. What is
it?
2. Aviation
use cases
3. What’s
next?
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Blockchain: Use case
2016 2017
POC Prototype ICH Pilot
IATA Coin
2015
Blockchain Study
2014
Concept creation
One Identity POCCargo Backbone TB Concept
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IATA Coin – POC method
Blockchain: what is it?
Country 1: SUI Country 2: US
Country 4: ZA Country 3: TH
1.000 CHF x USD
y THBz ZAR
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IATA Coin – POC findings
Blockchain: what is it?
Bitcoins 4d 10%
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Bank Transfer Bank Transfer
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Bank Transfer
Bitcoin
time cost
Banks 23d 14%
IATA Coins 2d <1%
Faster
Cheaper
Stable
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IATA Coin – Prototype
Blockchain: what is it?
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IATA Coin – Pilot
Blockchain: what is it?
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The Travel Blockchain
Blockchain: what is it?
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The Travel Blockchain
Blockchain: what is it?
Events
Contracts
Value
• Reconciliation automation ?
• Invoicing automation ?
• Settlement automation ?
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1. What is
it?
2. Aviation
use cases
3. What’s
next?
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Areas that need to be addressed
Blockchain: what’s next?
Transaction cost and speed
Regulatory framework
Taxation, rev accounting,
treasury, etc.Scalability
Privacy
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Vision
Blockchain: what is it?
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Blockchain: what is it?
Juan Iván MARTÍNHead of Innovation
FDS - Transformation
