blockchain

Chris Au Young, Airport Authority Hong Kong’s General Manager, reviews the world’s first-ever study that explored the potential of blockchain to provide a single source of truth for checked baggage.

According to global statistics1, 24.8 million pieces of checked baggage worldwide were lost in 2018 alone; not only inconveniencing passengers, but also costing the airport transportation industry around $2.4 billion. To tackle the problem, Hong Kong International Airport (HKIA) teamed up with the International Air Transport Association (IATA), London Heathrow Airport (LHR), Cathay Pacific (CX) and IBM to create and test a potential global blockchain solution that provides end‑to‑end baggage tracking. The study – which was the world’s first – found that blockchain provided a single source of truth for checked baggage, enabling real-time data-sharing among multiple stakeholders in a cost-effective way.

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(Excerpt) Read more Here | 2020-10-20 09:05:06
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