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AirAsia freightchain unveiled, network powered by blockchain technology

AirAsia freightchain

Teleport, the logistic diversion of AirAsia freightchain, launched on Friday. This makes the airline the first to embrace blockchain technology with freightchain, as it enables instant air cargo booking to shippers and freight forwarders.

Before the launch of AirAsia freightchain, Teleport said that they would scrap the traditional freight management method. This is because the conventional method is synonymous with wasting time. The firm said they would adopt a blockchain-operated system that would ensure orders are worked on in minutes faster than what airline or other cargo firms has ever used.

In a statement released by the firm,  AirAsia freightchain is the world’s first digital air cargo network run on blockchain.  The report reveals that the network allows shippers or freight forwarders to book and confirm any of AirAsia’s 247 aircraft to carry cargo.

However, Vishal Batra, the project’s chief technology officer, said that freightchain is basically to help businesses during the pandemic. He said the network was launched purposely this time because of uncertainty within global supply chains caused by the coronavirus pandemic.

Batra said, Agile software platforms like Freightchain help to connect uneven supply and demand amidst a rapidly evolving environment as trust and transparency are needed now than ever.

How AirAsia freightchain works

Feightchain is a digital network for air cargo operated by airline firms to allow shippers and forwarders book space and manage air cargo. It is powered by blockchain technology.

The platform is designed such that its features are simple, clear, and user supportive. Navigating through the platform is also easy for users as they are required to sign up for free before proceeding with any transactions.

Clients through the platform can check routes, airline space availability, cost, and other information regarding the shipment without having to go through an agent as airline firms can also sell cargo space to clients directly.

The platform has started working as its first shipment batch (pharmaceutical cargo) was made from Bangaluru to Mongolia and said to be easier, with lesser paperwork, urgency, safety, simplicity, and, most importantly, transparency.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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