Is blockchain the solution to enhancing baggage tracking?

According to global statistics¹, 24.8 million pieces of checked baggage worldwide were lost in 2018 alone; not only inconveniencing passengers, but also costing the airport transportation industry around $2.4 billion. To tackle the problem, Hong Kong International Airport (HKIA) teamed up with the International Air Transport Association (IATA), London Heathrow Airport (LHR), Cathay Pacific (CX) and IBM to create and test a potential global blockchain solution that provides end‑to‑end baggage tracking. The study – which was the world’s first – found that blockchain provided a single source of truth for checked baggage, enabling real-time data-sharing among multiple stakeholders in a cost-effective way.