IATA releases blockchain whitepaper for airlines

Today the IATA published its blockchain whitepaper. The document explores blockchain, its potential and the challenges, though the focus is on public blockchains. It outlines a substantial vision in both breadth and depth.

IATA blockchain initiatives

Last year global aviation revenue was $754 billion and the total size of the travel sector is $2.7 trillion. The industry is international in nature and hence involves moving money around the world. The IATA operates IATA Settlement Systems (ISS) which enables the movement of funds between airlines and their travel partners. In 2017 the ISS settled $433 billion. Hence IATA is experimenting with a travel industry coin, IATA coin.

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