Aviation in search of savings in the blockchain
The Air freight company gathered within the Global blockchain alliance believe that tracking and sharing containers on the Blockchain would generate annual savings of $ 400 million.
The shipment already has a large blockchain through the TradeLens consortium. In the air traffic Industrialists are also examining the potential of this technology very carefully. It could even save them $ 400 million each year.
SITA, Technology supplier for the aviation industry and the trade association ULD Care hope to improve the operational efficiency of air cargo through blockchain. The distributed register would be used to track and digitally record container data from sender to recipient.
Ubiquitous administrative formalities and ineffectiveness
As blockchain advocates in international trade have already explained, these operations are still based on paper systems today. The Digitization and real-time monitoring of containers could Therefore, enable efficiency gains. The Blockchain would intervene for the recording and the secure exchange of data between the multiple participants in the chain.
A container from Shanghai to Long Beach can take up to 30 days to complete its journey. However, the actual duration of the sea or road trip is only about 15 days, with the remaining time being spent on paperwork. Using blockchain could revolutionize this process, ”said Bob Rogers, vice president of ULD Care.
The industry leader also states that the savings are significant. Air freight makes up 1% by volume of total global trade. However, its weight is 35% in value. Modernization through digital and blockchain must therefore eliminate an “ineffectiveness” that is classified as important.
Track and share data from 800 million containers
Aviation manufacturers plan to digitize the entire tracking system for the 800 million containers currently in circulation in the air. It is the subject of a recent experiment or PoC.
Thanks to APIs and a new interface, the platform will also be accessible to third parties who are not airlines, such as B. Groundhandling agents. The monitoring and transfer of data must ensure the location of all containers at all times.
A key advantage has already been highlighted: “Companies can track exactly where losses or damages occur and get costs back without a hassle.”
The main obstacles to seamless travel and truly efficient air traffic are the isolated processes between the many stakeholders, including airlines, airports, ground service providers and regulators. They act as large speed limits at every stage of the journey, ”notes a SITA manager who hopes to fix this with the blockchain.
This project is part of the Global blockchain alliance managed by SITA. This group of manufacturers wants to investigate the potential of blockchain in aviation. Initially, the PoCs focused on spare parts logistics and aircraft maintenance.