There's a storm coming in the Airline industry and it's related to blockchain technology
At least according to Sir Tim Clark.
I mentioned the Airline Industry in my last post, so this tidbit was all the more fitting.
The post from yesterday can be found here by the way:
Basically it talked about how the airline industry is the one of the largest purchaser of oil futures contracts in the world.
They do this to offset price risk associated with the very volatile asset, oil.
This is an example of what is likely going to happen with large retailers around the world as they start to accept bitcoin. They will use the futures products to hedge their risk.
Anyways, on to today's story...
The Emirates Airline President, Sir Tim Clark, said that he thinks the entire airline industry needs to reconstruct their business model.
Specifically, he said they need to go digital, and they need to do it on a blockchain.
The news release in it's entirety can be seen here:
Some of the more prominent quotes from his interview can be seen here:
"Guys, there's a storm coming, and if you don't get on it and deal with it, you will perish. The company of the 2050s will bear no resemblance to the company of 2018."
Those are some pretty strong words!
He followed that up with this:
"Blockchain is a revolution within a revolution. It's not about how much money people are making by mining bitcoin. Instead, the most powerful aspect of blockchain is how it's constructed and the many applications it has beyond cryptocurrencies."
And the most exciting piece...
"It's going to transform everything we do and how you and I interact with each other and things around us."
The rest can be found here:
Not sure about you guys, but that last quote gives me goosebumps!
What was so surprising to me is the age of the man that is making these declarations.
Tim Clark isn't some millennial who has never worked in a large company. Instead, he is a year 68 year old President of a Billion dollar company that very easily could be stuck in the past.
Apparently he too sees the revolution that is already upon us.
Stay informed my friends.
Follow me: @jrcornel