Swiss airport cargo company Swissport is joining forces with Olam to pilot a blockchain system for their cargo handling services. Olam is an NPO looking to improve modern global supply chains. Their website states:
Olam is a not-for-profit foundation aimed at solving the wasteful chaos in the modern supply chain by means of a standard, open-source platform. The new standard will enable the various logistics parties along the supply chain to connect, communicate and develop their business effortlessly, with improved visibility and greatly improved trust.
Three Main Benefits
Swissport believe that using a blockchain system such as this will make transactions faster while improving security and reducing overall costs of the operation. Swissport’s Head of Global Cargo Operations had this to say:
Blockchain could eventually become the new standard allowing us to overcome the chronic lack of transparency, which is typical for fragmented supply chains.
But the cargo arm of the Swissport business isn’t the only one to be “blockchained”. The company have also partnered with Winding Tree to apply the blockchain pilot to their passenger services, such as access to airport lounges and other typical traveller services. Winding Tree explain:
No centralized control means no exorbitant transaction fees and no barriers for entry. Moreover, we allow small companies to compete with big players, finally bringing innovation back into the travel industry.
– Source: Winding Tree
Winding Tree have already built up a substantial client base, including Lufthansa, Air New Zealand and Swiss International Airlines. And Swissport are optimistic that this partnership will be extremely positive for years to come.
We expect to see lasting benefits from this technology for fragmented global industries like aviation services and supply chain. It will likely change how service providers, clients and partners will transact with each other.
– Florian Eggenschwiler, Swissport Innovation Unit