Cathay Pacific became the first airline to introduce to use a blockchain technology to manage unit load devices (ULDs). The Hong Kong-based airline is hoping that this new advancement will eventually lead to the elimination of paper receipts. Initial tests, which have been being conducted over the last year, have proven to be quite successful.
According to the airline, initial tests on the project began in July 2018, and focused on ULD transactions that were occurring in Hong Kong and select locations in the U.S. After successful testing, the company concluded that they would roll out the entire system across their network.
Cathay Pacific is a founding member of the major global aviation alliance known as Oneworld. As such, they have committed themselves to providing the best possible service experience for customers. This new technology should aid in that endeavor.
By using this new blockchain technology, they will be able to provide standardized data and a higher level of transparency across the 200 destinations in which the airline flies. Calvin Hui, who initiated the project and serves as the e-cargo and digital systems manager for Cathay Pacific, explained that this new application will not only provide a great internal management tool for the airline but will greatly improve overall service for customers.
The new technology is already reaping benefits for the airline. Cathay Pacific has found that this new technology is helping to greatly improve efficiency during peak cargo periods, as the ULDs are processed quickly and with greater precision.
This is not the only use of this technology that the airline has implemented to improve service. In May, it was reported that Cathay Pacific was instituting a new rewards program using blockchain technology. The program was developed to be used as a mobile app, which would help customers to be able to manage their accounts using a more secure and efficient application.
This new application not only services Cathay Pacific customers but was designed to work with all partners and members involved in the rewards program.
The airline is excited about its new innovations, especially the implementation of this new ULD monitoring system. In a statement, the airline explained “The most obvious benefit we expect to see is having sufficient ULD stocks for our customers during peak cargo periods, because we will know where exactly to find our ULDs.”
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.