Norderstedt, November 24, 2017 – The digital tool rental, the transport of temperature-sensitive goods or the vehicle documentation system - despite all the differences, the three use cases have one thing in common: with the help of the new blockchain technology, the processes required for handling the business transactions run in a decentralized, transparent and tamper-proof manner. But does the new technology deliver what it promises? Which business models are suitable for this and how can they be mapped in the blockchain?
These were the questions posed by some 30 participants at the first blockchain hackathon of Lufthansa Industry Solutions. “The blockchain is basically just a decentralized platform based on a peer-to-peer network of computers, enabling transactions between participants without the need for a trusted third party,” explains Technology Consultant Marvin Theissen, who co-organized the hackathon. And this is how it works: The data is stored and maintained on each individual computer within the network in so-called blocks. The miners - the system's “accountants” - automatically inspect and seal the blocks. Once saved, they can no longer be changed.
The theory was also at the beginning of the hackthon to give the participants a basic understanding of blockchain technology and its special features. The next step was the development of new ideas and solutions. With the help of the specially developed “Blockchain Canvas”, business analysts and developers developed their blockchain use cases together.
And delivered exciting results: because if, for example, the digital consignment note goes on a journey, licenses can be offered, managed and purchased digitally or the entire lifecycle of a vehicle can be mapped in the blockchain in a tamper-proof way, functionalities and business models change in the real economy.
About Lufthansa Industry Solutions
Lufthansa Industry Solutions is a service provider for IT consulting and system integration. This Lufthansa subsidiary helps its clients with the digital transformation of their companies. Its customer base includes companies both within and outside the Lufthansa Group, as well as more than 200 companies in various lines of business. The company is based in Norderstedt and employs more than 1,300 members of staff at several branch offices in Germany, Switzerland and the USA.