$ 29,799.00 0.97%
$ 1,942.81 3.06%
$ 47.99 3.45%
$ 0.083626 0.10%
$ 7.29 3.12%
$ 1.37 2.96%
$ 0.000171 2.73%

Blockchain has “tremendous potential” expresses UN ICAO President

un icao council president in favour of blockchain

With the increase in adoption of blockchain technology globally it is being integrated into every field of life. We now see the USA integrating blockchain in their aviation field. The President of the UN’s Aviation Agency recently talked about the revolutionary nature of the blockchain technology.

Olumuyiwa Benard Aliu is the President of the International Civil Aviation Organization (ICAO) Council. He said that the blockchain technology has a lot of potentials and it poses a lot of benefits once adopted on a major scale. He also thinks that the world could get a lot of benefit by integrating blockchain technology in the aviation sector.

The ICAO Blockchain Summit and Exhibition was recently held and was attended by a lot of important and influential personalities in the field of aviation from all over the globe.

The United Arab Emirates was the venue. During this, the president of ICAO also talked about his take on the integration of blockchain in the aviation field.

He said that problems in the aviation field are expected to multiply over the course of fifteen years. He further elaborated saying that with blockchain technology this increasing rate of problems can be minimized.

The increasing problems include air traffic ticketing and management of cargo. The president is very optimistic about the number of benefits this integration can pose.

He says that blockchain technology can be integrated into almost all facet of the aviation field even the ones that contain confidential information. Confirming the identity of the passengers is also where blockchain technology can offer accurate and efficient results on a global scale.

Of course, such technology is going to revolutionize the industry as we know it will cause fundamental changes in the systems. For this, he voiced his concern to properly eliminate the risks that come with such activities and stressed the importance of acting with caution.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Here's why attorney Jeremy Hogan believes Ripple lawsuit is nearing 'endgame'
Mastercard backs crypto despite market decline
Terra (LUNA) Rebounded over 1000% in A Day? — Can Investors Expect Any Ray of Hope?
XRP Price Prediction 2022-2030 [After Lawsuit]
Green Satoshi Token Price Prediction 2022-2031: Is GST A Good Investment?

Follow Us

Industry News

Singapore VC firm gets a $100 million metaverse and Web3 fund
Andreessen Horowitz raises $4.5 billion to back crypto firms
Babel Finance hits a $2b valuation with $80m in funding
The UpLift DAO team joined a closed VIP Discussion with Dr Gavin Wood on what it takes to Build a Better Web3
Mastercard backs crypto despite market decline