The coronavirus crisis has forced many companies and service providers to revamp their business model. AirAsia is doing the exact same, and it appears that blockchain technology is of great interest.
It is interesting to see how different companies handle the current coronavirus crisis.
AirAsia Embraces Blockchain Technology
As far as air freight is concerned, there are clearly plenty of aspects that can be improved upon.
AirAsia Group Teleport is venturing into the world of blockchain.
This new option is being explored through its logistics arm.
Its first order of business is to introduce FreightChain, a blockchain-powered cargo booking system.
It makes use of distributed ledger technology, although there are no specifications as to which blockchain is being used at this time.
Through this booking system, exporters and freight forwarders can book AirAsia’s aircraft in real-time.
All it requires is bids to be submitted and validated on the blockchain in question.
A transparent solution to bid and confirm urgent air cargo capacity in real-time is very novel, and it is one example of what blockchain technology can do.
At least one pilot booking has been completed through the platform already.
If successful, this new solution can transform the way air freight is handled globally.
More transparency is always welcome in this particular industry.