According to Google Trends 2019, the word Blockchain is googled worldwide on average 246,000 times a month, while blockchain technology 40,500 times. The chart and the numbers are good indicators for how big the hype is around this technology and the air cargo industry is not left far behind as far as adoption of blockchain goes.
Nearly two thirds of the world’s largest corporations are considering deploying their own blockchain application. Many organisations in the air cargo industry are also currently testing the technology with the intention of building their own blockchain ecosystem. With overall savings estimated at around $38 billion, the expected business value of blockchain in the travel and transportation industry is substantial.
Managing today’s supply chains—all the links to creating and distributing goods— is extraordinarily complex. Due to the complexity and lack of transparency of our current supply chains, there is interest in how blockchain might transform the supply chain and logistics industry.
“The value of blockchain is undeniably that it has accelerated the consideration of collaborative processes by providing the promise of ensuring data reliability and a common data access framework. Even if blockchain only plays a partial role in such applications, it has been seen to be a key element in early acceptance of collaborative solutions by visionary participants,” said Paul Delbar, solutions architect at Nallian. Nallian offers the world’s first open data sharing platform for business collaboration.
This story is from the January 2020 edition of The STAT Trade Times.
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This story is from the January 2020 edition of The STAT Trade Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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