A blockchain & video analytics solution that accelerates the Aircraft turnaround time by automatically detecting various events, makes use of smart contracts for reconciliation, settlement, and execution of legal contracts between various parties.
Coforge has developed a solution for the travel industry to accelerate the Aircraft turnaround time by using Blockchain & Video Analytic technology. This solution utilizes video analytic technology to automatically capture the flight events e.g. door opening/closing, bridge connect/disconnect & fuelling, etc.. It also helps to analyze the root cause upon any flight delay. The solution also utilizes Blockchain to automate the settlement process & execution of legal contract terms between various parties like Airline, Airport & Ground staff to make the process more transparent & efficient. Having transparency in all the transactions helps to avoid any reconciliation challenges & conflicts.
Upon flight delay, there are multiple claims & counterclaims raised by various parties. Due to multiple factors like lack of accuracy in the recording of various activity timing & lack of transparency in managing flight activities, it would be difficult to analyze the root cause in the event of flight delay. These all factors cause challenges in reconciliation & settlement.
Automate the process to record flight activities
Digitalize the legal contract and helps to automate execution of contract terms based on pre-configured rules
Transparency by replicating the same ledger transaction across all the ecosystem parties
Provide set of immutable, distributed & decentralized ledger
Reduce number of conflicts and easier reconciliation
Trust between parties by having immutable ledger data & transparency
Enhanced data security
Faster speeds to execute reconciliation & settlement process
Cost savings by automating the reconciliation & settlement
Reduction of manual effort for recording various flight events timing
R3 Corda, Java, Spring Boot, Azure Cloud, H2 Database, Ubuntu 16.04 OS, Gradle, ML libraries, computer vision and Python