Primary Airline in Hong Kong, Cathay Pacific, has unveiled the first blockchain project this week. The company intends to use technology for managing its Unit Load Devices (ULDs).
Rolling out the tech across the entire network
Per the Air Cargo News (air cargo publication) Aug. 1. Report, the new project implements a blockchain application that supports instantly management ULDs via a smartphone thereby eliminating paper-based processes.
In July, Cathay, also a founder member of Oneworld (a major global aviation alliance) launched its blockchain ULD project which will initially offer its first transactions in Hong Kong and later on in other locations of the United States.
The report also notes that in the near future, the company has the intention of rolling out the technology across the entire Cathay Pacific network.
Improves service quality for clients using blockchain
Cathay is a company known to offer scheduled passenger as well as cargo services to more than 200 world destinations according to its official website.
All the parties involved will benefit from a higher transparency level and standardized data through the new blockchain system.
Calvin Hui — manager of Cathay Pacific e-cargo and digital systems — has stated that apart from contributing to the ULDs’ internal management, Cathay customers will get quality services through the initiative.
Hui explained that during the firm’s peak cargo periods, the technology will allow Cathay to provide sufficient ULD stocks since ULDs location data will be more precise.
Reportedly, in the month of July, S7 Airlines — another Oneworld member — used its blockchain payment system to process over $1 million transactions.