Swissport to use blockchain in their aviation services

Swissport plans to utilize blockchain in their cargo and passenger services through partnering with two blockchain-oriented companies
30 May 2018   740

One of the spheres to benefit greatly from use of inherently transparent and secure blockchain technology is cargo and passenger transportation. At least that's what Swissport, a Swiss aviation services company, thinks. The company is looking into using blockchain to streamline its cargo handling and passenger service.

Swissport has partnered with Olam, a Swiss non-profit foundation, to launch a pilot of an open-source platform for the supply chain. Olam utilizes blockchain and smart contracts to record shipment information and changes of custody.

Hendrik Leyssens, head of global cargo operations at Swissport, commented that using blockchain is a bid for the future-proofing the operations, because it can speed up transactions and enhance their security, while also reducing the operational costs and overcoming the chronic lack of transparency in fragmented supply chains.

And distributed ledger usage won't to be limited just to cargo handling. Swissport plans to adopt blockchain for the passenger services, provided by the company. Partnership with Winding Tree, a blockchain-based travel platform, is a proof of that. Connecting various parties to provide traveling experience to users without resorting to “help” from multiple intermediaries is a goal of Winding Tree Foundation, and Swissport wants to explore the potential of distributing its existing travel services on the platform.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   67

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.