Primary Airline in Hong Kong, Cathay Pacific, Will Use Blockchain to Manage Unit Load Devices

Cathay Pacific, a flagship airline company based in Hong Kong, has decided to show its first blockchain initiative to the world this week. The company has used the blockchain technology in order to manage its Unit Load Devices (ULDs).

The main goal of the new blockchain initiative is to eliminate all paper processes with the use of the blockchain. The technology will be used to instantly manage the ULDs using smartphones or computers.

The reports affirm that this will make the whole process considerably more efficient and quick. It can greatly reduce the costs of dealing with this process, which will be very profitable in the long-term scenario.

Cathay Pacific is currently focusing on using the new technology in Hong Kong and the United States first. Experiments will be made at first before the product is rolled out to all the network of the company. Only when the tech is proved to be successful that people will really be able to use it anywhere.

According to the company’s site, Cathay offers services to over 200 destinations in many different countries. With the new blockchain system, the company will be able to achieve a new level of efficiency and transparency for all people involved in its business, including the customers.

Calvin Hui, the digital systems manager of the company, is confident that the technology can be used in order to improve the internal management of ULDs and, this way, improve the overall quality of the services which are currently being provided by the airline.

One example given by Hui was that the company would be able to provide enough ULD stocks during the busiest cargo periods because the location data of the ULDs would be more precise, which would make the whole thing faster.

Cathay Pacific is currently one of the major airlines of the country. It was one of the founding members of the Oneworld alliance, an important local group. S7 Airlines, another company from the same consortium, is another one that is using the blockchain technology.

In the case of S7 Airlines, the company is focused on using the blockchain to process the payment of tickets. Around $1 million USD has been processed at the time of this report.

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Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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