Air Asia launches blockchain platform
Teleport, the logistics arm of the Malaysian carrier Air Asia, has launched Freightchain, marketed as "the world's first digital air cargo network run on blockchain". A shipper or freight forwarder can now instantly book and confirm any of Air Asia's 247 aircraft to carry cargo through Freightchain, without the need to go through traditional sales channels.
Freightchain will assist clients to discover all available cargo network connections owned by airlines for their supply chain needs. It then facilitates on-demand bookings in real-time through bids submitted and validated on blockchain.
Freightchain chief technology officer Vishal Batra: "Agile software platforms help to connect uneven supply and demand amidst a rapidly evolving environment. Trust and transparency are needed now more than ever." (ah)