Cathay Pacific, Hong Kong’s flagship airline, has introduced the first ever blockchain project intended to manage unit load devices (ULDs), with plans to deploy the technology over the entire network in the near future.
As reported by Cointelegraph, the new project aims to eliminate paper-based processes by implementing a blockchain application which would enable users to instantly manage ULDs using their smartphones.
In July, Cathay launched its blockchain ULD project with the initial stage targeting transactions in Hong Kong and select locations in the United States.
Cathay, a founding member of global aviation alliance Oneworld, offers scheduled cargo and passenger services to over 200 destinations worldwide. The new blockchain system is expected to provide standardized data while ensuring a higher level of transparency for all parties involved.
Calvin Hui, e-cargo and digital systems manager for Cathay, said the new blockchain application will contribute to the internal management of ULDs, as well as improve the quality of services for the airline’s customers.
He further explained the having more precise location data of ULDs will enable Cathay to provide sufficient ULD stocks during peak cargo periods.
It was recently reported that S7 Airlines – another Oneworld member – processed over US$1 million through its blockchain payment system for the month of July 2019.
S7 has seen considerable growth in transactions on its blockchain-based sales network, which was developed in partnership with Russia’s largest private bank, Alfa-Bank. Since January, the blockchain platform has processed a combined US$3.9 million in payments.
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