AirAsia launches blockchain-based cargo booking platform
17 / 04 / 2020
By Rachelle Harry
Teleport, AirAsia’s logistics division, has launched Freightchain — a new digital air cargo platform operated using blockchain.
Freightchain enables freight forwarders and shippers to instantly book and confirm cargo on any of AirAsia’s 247 aircraft “without the need to go through traditional time-consuming sales or email channels”.
The platform facilitates on-demand bookings in real-time through submitted bids and then validates them using blockchain algorithms.
In the wake of the coronavirus pandemic, AirAsia noted that: “A software to transparently bid and confirm urgent air cargo capacity in real time is vital to keep global supply chains for life-saving medical supplies and equipment moving”.
The first pilot booking on Freightchain involved the shipment of pharmaceutical cargo from Bengaluru in India to Ulan Bator in Mongolia. An instant itinerary via Kuala Lumpur, Malaysia, and Seoul, South Korea, was confirmed in real-time with flights from three different carriers through a smart contract on blockchain.
Vishal Batra, chief technology officer at Freightchain, commented: “We deliberately launched Freightchain within global supply chains during this period of uncertainty, which was caused by the coronavirus pandemic.
“Agile software platforms like Freightchain help to connect uneven supply and demand amidst a rapidly evolving environment. Trust and transparency are needed now more than ever.”