LIH or Lufthansa Innovation Hub and the SAP.iO Berlin Foundry teamed up to launch the first ever Aviation Blockchain Challenge around the world. Recently, as it was announced in one blog, the challenge seeks to explore potential opportunities, as well as drive adoption of Blockchain technology in the airline industry.
What the challenge seeks?
According to one announcement, the application of blockchain technology in the finance currently dwarfs what is obtainable in the Travel and Mobility Tech scene. To change this, the challenge has the purpose of attracting the most talented blockchain entrepreneurs from every place in the world and giving them an enabling environment, in order to generate ideas and explore with new approaches of doing things.
Leveraging the sizable R&d ecosystem of Lufthansa, as well as the industry experience alongside the extensive blockchain development experience and mentorship of SAP, the challenge is going to place the most promising blockchain entrepreneurs in the world in front of key decision makers, as well as give their businesses great publicity.
Thorsten Dirks, the CEO of Eurowings and the board member of the Lufthansa Group, explaining why the challenge was actually created, said that blockchain is one of the game-changing technologies of their time, which they are systematically addressing as part of their digital strategy for the Lufthansa Group. He also said that they are looking forward to discussing innovative solutions, as well as initiate experiments together with their partner SAP at the Aviation Blockchain Challenge. With combining their aviation industry expertise with blockchain technology of a world market leader, he said that they are creating an ideal framework around the world for addressing blockchain entrepreneurs with an affinity for travel, as well as mobility.
However, Deepak Krishnamurthy, who is the Chief Strategy Officer & Executive Vice President of SAP, was the one that praised the partnership, describing it as a crucial part of one new innovation ecosystem which can potentially transform the whole travel industry.
The categories of the challenge
The Blockchain Aviation Challenge is actually divided into three categories, and they are the Airline Challenge, the Traveler Challenge, as well as the Supplier Challenge. The Airline Challenge has the purpose of promoting solutions which will be able to eliminate errors, as well as increase accuracy in airline operations, for instance through enhanced ease of data-sharing across department and organization lines.
The Traveler Challenge has the purpose of creating some solutions which will improve the passenger experience by making it more efficient, as well as more comfortable. It also has the goal to identify some ideas which provide added value for passengers and which also make the overall transit experience more enjoyable, as well as less complicated.
And the third one, the Supplier Challenge has the purpose of promoting ideas which will enhance transparency of supply chains, as well as maintenance, and which will be central to the safe and reliable operations of airlines. Such approaches also can positively revolutionize some parts of the maintenance and supply chain management of an airline.
Timeline and prizes of the challenge
The Blockchain Aviation Challenge hits off with the ideas submission phase which will end on the 31st of August this year. The selection shortlist is going to be announced afterward, and it will be followed by monitoring and pitch build-up by SAP Blockchain specialists and LIH experts. The last cast will take place at the Lufthansa Innovation Forum in front of senior management from Lufthansa Group and SAP.
As the announcement stated, the prizes for the selected entries will include a global stage for your idea, including international press coverage, as well as media awareness. Also, there is a potent pilot project with the Lufthansa Group. Professional mentoring for all of the shortlisted teams; A possibility of rising in front of senior management; coverage of travel costs (up to 2500€ per unit); Finalists will have the ability to get access to Blockchain-as-a Service from SAP, to build or to renovate their MVP; Office space for up to 3 months in the Berlin ecosystem;
LIH and SAP will take zero equity.