According to an <a href="http://sharedby.bestrategic.ch/a7phg9#https://www.logupdateafrica.com/sita-uld-care-to-develop-blockchain-for-uld-tracking-industry-to-save-400-mn-a-year-aviation">announcement</a> on March 12, Sita together with trade association ULD Care, are weighing the possibility of blockchain saving the air cargo industry up to $400 million every year.

The adoption of blockchain technology in the <a href="https://www.cryptoknowmics.com/news/german-airlines-corporate-hahn-air-provides-blockchain-booked-tickets/">aviation industry</a> has been on the rise lately. Blockchain solutions have been employed on air ticketing, logistics and cargo operations. A blockchain-based solution that would save a massive <a href="https://www.cryptoknowmics.com/news/air-cargo-industry-can-save-400m-using-blockchain-based-solution/">$400 million yearly would stir an industry</a>-wide interest in the technology.
<h2>The blockchain-based solution to slash industry operational cost</h2>&nbsp;

Moreover, blockchain solutions enable the air cargo industry to digitally monitor, and track the custody changes of airline cargo containers, or Unit Load Devices (ULDs), as they travel to various destinations. These firms are hoping to reduce the industry cost, enhance increased efficiency, slash losses and avoid cargo destruction.

Additionally, the blockchain-based solution will install security and anti-interference functions to avoid meddling, cybercrime, trade-based money laundering, fraud, and illegal trade.

Furthermore, as per the announcement, cargo tracking and monitoring are being carried out by almost 12 custodian firms. Majority of these firms rely on paperwork which raises trust and honesty issues. However, blockchain is a breath of fresh air as it is less costly; saves time and can address the issue of trust and transparency in the sector.

According to ULD Care vice president, Bob Rodgers; air cargo is just 1% of worldwide trade in volume but it covers about 35% of the entire trade value, hence inefficiency can have a big impact. He adds;
<blockquote>“A container travelling from Shanghai to Long Beach could take up to 30 days to finish its journey, but the true travel time on sea or road is only around 15 days, with the remaining time spent on back-office and paperwork. The use of blockchain could revolutionize that process.”</blockquote>
<h2>Blockchain technology in the logistics sector on the rise</h2>&nbsp;

<img class="alignnone wp-image-161832 size-full" src="https://www.cryptoknowmics.com/crypto/wp-content/uploads/2020/03/United-Kingdom-UK-To-Adopt-Blockchain-Technology.jpg" alt="Blockchain technology" width="740" height="492" />&nbsp;


The transport and logistics industry has been at the forefront of <a href="https://www.cryptoknowmics.com/news/samsung-to-develop-blockchain-based-financial-services-with-credorax/">blockchain adoption</a> lately. Just recently, IBM Indonesia joined the blockchain shipping platform TradeLens which offers blockchain-based logistic solutions.

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 	<li><a href="https://www.cryptoknowmics.com/news/alibaba-files-patent-for-a-blockchain-based-system-in-brazil/">Alibaba Files Patent For a Blockchain-Based System in Brazil</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/how-can-we-become-blockchain-developer-after-12th-standard/">A Beginner’s Guide on How to Become Blockchain Developer after 12th Standard</a></li>
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Air cargo industry can save $400M using blockchain-based solution

According to an announcement on March 12, Sita together with trade association ULD Care, are weighing the possibility of blockchain saving the air cargo.. %

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Air cargo industry can save $400M using blockchain-based solution

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