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Author Background

Edwin Ongola’s education background includes Computer Science (Masters) and Aviation (CPL-ME-IR). He has work experience in both academia and industry. His current research interest is in the application of Blockchain technology in the aviation industry.

Edwin is currently not attached to any institution.

Abstract

This essay describes how blockchain technology, particularly nonfungible tokens, can be used to raise funding for airliners. The essay begins with a brief overview on the costs, categories, and acquisition methods of airliners. After that, the essay introduces concepts on blockchain technology, tokens, and smart contracts. The essay then touches on how nonfungible tokens can be used to facilitate fractional ownership of airliners. From there, the essay discusses Bitseat, a conceptual nonfungible token for fractional ownership of airliners, covering its overall design, appeal, marketplace alternatives, and challenges. Finally, in the discussion, the essay summarizes the overall concept and outlines its pros and cons to relevant players in the airline industry. The targets of this essay include airline managers, policymakers, technologists, and academics.

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