Aeropaye is developing an autonomous smart flight refund engine for airlines, travel agents, travel management companies and passengers on delayed or cancelled flights, integrating Blockchain distributed ledger technology, smart contract components and the IATA direct connect New Distribution Capability (NDC) protocol. We compete in the growing airline ticketing industry valued at $776.9 billion.
Airline tickets are stuck in a technological bottleneck. Coordinating purchases, transfers, settlements on delayed and canceled flights and payments across hundreds of airlines, agencies, and countries is expensive and inefficient under the current system.
The Aeropaye DLT component is an amazing technology that allows for easy, near instant, trustless collaboration between different parties with a common goal. These difficulties of the travel industry is the perfect environment to apply it in. Aeropaye travel tickets smart tokens have immediate benefits like fast transactions, instant settlements, and more efficient collaboration between all the parties.