Dhaka, March 16 -- Singapore's Cargo Community Network (CCN) and Microsoft have launched the world's first blockchain-based air cargo billing, costing and reconciliation system.
Announced at the IATA World Cargo Symposium, the system was developed following a hackathon organised by CCN and Microsoft and a two-month proof-of-concept that involved partners such as Singapore Airlines, SATS, Alliance21 and Bollore.
Using Microsoft Azure Blockchain technology, the system is intended to minimise errors and improve the efficiency of billing and reconciliation throughout the supply chain.
Information such as shipment details from the flight manifest, freight status update and air waybill is accessible in real time from a single source through th...