Teleport announces Freightchain, a digital network to instantly bid and book air cargo

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AirAsia’s logistics arm Teleport announces Freightchain, the world’s first digital air cargo network run on blockchain. Launching today, a shipper or freight forwarder can now instantly book and confirm any of AirAsia’s 247 aircraft to carry cargo through Freightchain, without the need to go through traditional time-consuming sales or email channels. 

Freighchain will assist shippers and their freight forwarders 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. 

Especially during this unprecedented period, air cargo is vital in the global fight against COVID-19. 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. 

Freightchain Chief Technology Officer, Vishal Batra said, “We deliberately launched Freightchain during this period of uncertainty within global supply chains, 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.” 

The first pilot booking on Freightchain was successfully conducted to ship pharmaceutical cargo from Bengaluru, India to Ulan Bator, 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. 

Due to the unavailability of direct flights from Bengaluru to Ulan Bator, the shipper had to manually enquire about the availability of connecting flights with multiple airlines and agents over phone calls and emails, a very tedious and time-consuming process. Freightchain simplified the booking process and confirmed the itinerary 10 times faster for shippers by programmatically discovering the available routes with connecting flights within the shipper’s budget and passing on significant cost savings to shippers. For the airlines, the dynamic on-demand interlining of flights helped improve otherwise underutilized flights.

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Interested in building the future of air cargo with Freighchain? Shippers can visit https://www.freightchain.world/ to start securing cargo space instantly.

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Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.