AirAsia adopts blockchain technology in cargo transportation
The logistics branch of AirAsia Teleport, Asia’s largest airline, has launched the Freightchain blockchain to speed up and simplify the air cargo confirmation and tracking process.
With Freightchain, shippers and freight forwarders will be able to book and confirm the use of any of AirAsia’s 247 aircraft for cargo transportation, without the need for intermediaries. The blockchain will help track orders and sales, as well as automatically identify connected networks for cargo delivery.
Freightchain will help establish a link between global freight forwarding firms, which will eliminate intermediaries and agency fees. The blockchain offers intelligent digital channels for booking cargo space in addition to increasing cargo capacity.
Adrian Loretz, chief operating officer of Teleport:
“Freightchain allows to programmatically search and discover different routes and itineraries available for booking on the network, including the interline itineraries created by Freightchain on demand by combining the flights of different airlines. It also enables buyers to make bookings by submitting their bid for desirable itineraries online and receiving instant confirmation from airlines once the bid is accepted.”
Freightchain can simplify the process of booking cargo space by providing confirmation almost 10 times faster than traditional methods thanks to “software discovery” of routes using data from the blockchain architecture.
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