dnata, Emirates Innovation Lab, flydubai Cargo and IBM complete blockchain proof of concept

dnata, Emirates Innovation Lab, flydubai Cargo and IBM completed (23-Nov-2017) a proof of concept using blockchain technology for airfreight supply chain transactions in Dubai. The system covered transactions from the origin purchase order to delivery at the destination consignee warehouse. The technology can be used to manage and track cargo containers and sign offs by inspectors and receivers while ensuring no single party can modify or delete information without consensus from others on the network. The system eliminates redundant data and improves visibility and transparency for all stakeholders, enabling streamlining and simplification of processes. The use of blockchain technology is expected to deliver greater security, efficiency, cost savings for customers, better tracking of orders, reduced errors and better fraud detection. In the proof of concept, the parties identified issues from technology, security, operational and legal perspectives and realised new supply chain services, including digitalisation of documents. Emirates Group SVP IT strategic services Neetan Chopra said: "Blockchain technology has great potential to exponentially improve efficiency and transparency of business networks, especially in Cargo & Logistic flows". [more - original PR]