The aviation industry has committed to reducing its carbon footprint, and sustainable aviation fuel is the only way that can happen as the industry continues to grow.
Airlines face substantial challenges in the face of rapid growth. They must reduce emissions of greenhouse gases and improve environmental sustainability. The International Air Transport Association estimated the number of flights in 2019 to be 40 million worldwide, and while growth subsided in 2020, that is an anomaly. Jet-fuel demand is estimated at 3 billion gallons per year. Simultaneously, the industry has declared a desire to freeze emissions and achieve carbon-neutral growth by 2020.
Growth in Air Miles without Increasing Greenhouse Gas Emissions
How can we use blockchain in the aviation industry? Fuel is the largest cost for the aviation industry, and while sustainable aviation fuel (SAF) is relatively new and now coming into real market conditions, its adoption will enable the airline industry to move away from the petroleum sources upon which the world has up to now relied. In addition, the United States department of defense has explored sources of sustainable biofuel to offset dependence on foreign energy sources. Blockchain
Airlines can track their sustainability by using blockchain and distributed ledger technology (DLT). DLT uses the blockchain platform to create a public record of sustainability efforts, including using SAF. Counting carbon emissions closely and creating a life cycle inventory for every mile flown will allow airlines to convince the public and government regulators of their commitment to a carbon-neutral aviation industry. By using smart contracts and DLT, airlines will create an immutable record of carbon reductions and sustainability.