Airlines Save 7% on Cargo Costs with Blockchain Technology

Several airlines have achieved significant cost savings in their cargo operations through the implementation of blockchain technology. According to a recent report, airlines have managed to reduce their cargo costs by 7% by adopting blockchain-based solutions for managing their freight.

Blockchain technology offers a decentralized and secure system for recording transactions, which can greatly enhance the transparency and efficiency of supply chain processes. By using blockchain, airlines are able to streamline various aspects of cargo management, including tracking shipments, verifying the authenticity of documents, and ensuring compliance with regulations.

One of the key benefits of blockchain in cargo operations is its ability to provide a single source of truth for all stakeholders involved. This means that every participant in the supply chain, from shippers to carriers to customers, has access to the same real-time information, reducing the potential for errors and disputes.

The integration of blockchain technology also helps to automate many manual processes, further reducing costs and improving operational efficiency. For instance, smart contracts—self-executing contracts with the terms directly written into code—can automate payment processes and other routine tasks, eliminating the need for intermediaries and reducing processing times.

Overall, the adoption of blockchain technology in the airline cargo industry represents a significant step forward in modernizing supply chain management. By leveraging the benefits of blockchain, airlines can achieve substantial cost savings while also enhancing the reliability and transparency of their operations.

Source >> https://cointelegraph.com/news/airlines-save-7-percent-cargo-blockchain