The blockchain and the decentralized economy have made significant strides in the mainstream, with developments leaning towards massive user bases. One of the latest ventures undertaken by the blockchain industry is in the aviation industry with the South Asian market acting as the launchpad.
Freightchain, the blockchain-based cargo network recently announced that they were expanding to Bangkok, Thailand after noting the large number of trade routes that converge at the South Asian capital. The launch is expected to be one of the first steps to a large scale expansion.
Reports have said that the latest operation will be served by both the Thai Air Asia and Thai AirAsia X planes. The Air Asia X planes are supposed to add another dimension to serving offshore customers as plans to connect new territories are in the works. Freightchain was established in 2019 as a subsidiary to the Air Asia logistics platform Teleport. Following the announcement, Teleport COO Adira Loretz stated:
“These newly opened routes will allow businesses to seamlessly connect to or from Suvarnabhumi and Don Mueng, both of which are among the largest airports in Southeast Asia. The expansion of these new cargo routes from the Bangkok hub to popular ASEAN cities was created in response to the great demand for flights to the cities itself. This will allow businesses to also efficiently transfer cargo from the Bangkok hub to other cities.”
Sources close to Freightchain have informed users that the platform uses Hyperledger Sawtooth to build a blockchain air cargo booking system. If the system is able to successfully handle the influx at Don Mueng and Suvarnabhumi, it may be deemed suitable for other less dense airports. Freightchain is looking to grow across geographical borders and has launched multiple features to lure different types of customers.
One of the most eye-catching features of the platform was that users would not need to pay any agency fees but could rather use that capital to drive their own business. The company has also promised smart on-demand digital interlines that would allow customers to book cargo belly space in very simple steps. Another addition to the Freightchain roster was the improved belly capacity utilization system and its role in bringing the whole system together.