Blockchain technology is developing and expanding in various fields, and it plays a vital role, especially in the logistical field.

AirAsia has become the first airline to adopt blockchain technology for freight after… revealed Yesterday, they announced “Freightchain”, an air freight reservation system that provides instant freight reservations for shippers and freight forwarders powered by blockchain technology.

The Malaysian airline that offers low-cost flights, through its logistics division, Teleport, has announced that it will do away with the traditional, time-consuming method of freight management for a blockchain-powered system that can see and process orders in minutes. “One of the first companies in this field.

What is “Freightchain” and how does it work?

Freightchain is a digital air freight network operated by airlines to allow freight companies and freight forwarders to instantly book space and manage air freight, after studying all supply chain needs, it is powered by blockchain technology.

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The platform has been meticulously designed with features that are simple and straightforward to use, with a feature to prevent tampering by customers, who are required to sign up for free before proceeding with any transaction.

In the new system, a customer can check routes, airline space availability, cost, and other information related to a shipment without having to go through an agent, while airlines can also sell their freight space directly to buyers.

The system is up and running, and the first batch of freight from Bangaluru to Mongolia was made with ease, with procedures with minimal paperwork, ensuring operational safety, simplicity and most importantly transparency.

Choosing airlines for blockchain technology:

Blockchain technology, although it has great potential, is still not fully exploited in the aviation industry.

According to the International Air Transport Association (IATA) research report on the applicability of blockchain technology in air travel and freight services, the technology is beyond the prototype stage and ready to be implemented in a range of departments including digital identifiers, certification, tokenization and smart contracts.

Many research on recommended blockchain solutions for air travel and freight to change the workforce, finance and maintenance areas of the industry mainly through digital data management, and airlines are actually exploring this innovation.

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We have previously mentioned on the Bitcoin Arab website about many airlines that are exploring blockchain technology and cryptocurrencies and integrating them into their system, including:

One of Europe’s Largest Airlines Begins Accepting Bitcoin (BTC)

Emirates Airlines enters the world of blockchain through its partnership with the Loyyal project

As for the current situation, most airlines are in an emergency vacation situation due to the Corona virus, and thus it is an opportunity for more research and study of the possibility of further improvement.