Last week, aerospace industry-owned tech organization SITA announced a collaboration for tracking airline cargo containers using blockchain. SITA will partner with non-profit ULD Care for the trial, which will digitally track and record custody details of containers.
Unit Load Devices (ULDs) are containers used to load luggage, freight, and mail on an aircraft as a single unit. Canada-based ULD Care was started as an IATA committee in 1971 and became a legal entity in 2001. It provides resources, training and collaboration in ULD operations through its open membership model.
IATA estimates that there are about 900,000 ULDs in service, which potentially create unnecessary annual expenses of $400 million as a result of inefficiency, lost cargo, and damage to the ULD or aircraft. Using blockchain, SITA and ULD Care aim to plug this loss and reduce the risk of tampering, fraud, illicit trade, cybercrime and money laundering. While improving transparency in the ULD process, blockchain will also eliminate paper-based transactions and speed up freight transport.
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