AirChain Network is a project that intends to leverage the disruptive blockchain technology to revolutionize the air freight industry. The platform aims to achieve its objectives by connecting businesses directly to potential investors, simplifying the trading and delivery of goods as well as services.
As of now, the project’s prototype is available on the AirChain.Network website. Regardless of the size of the business, the AirChain Platform will avail sophisticated tools and techniques to assist in streamlining the buying, selling and delivery of cargo. Using the company’s state-of-the-art infrastructure, logistics firms will deliver goods in time, and the blockchain technology will eliminate duplication, ensure safety and guarantee transparency.
The Current State of the Air Freight Sector
Air transport is essential for business, especially international trade. On a daily basis, goods worth $19 billion are transported over air. Businesses favor this mode of transport due to its speed and efficiency. For instance, perishable goods are entirely dependent on air transport for sustainability. Also, air transport is favored in the transpiration of high-value commodities, such as vaccines and other medical accessories.
Popular e-markets such as Alibaba, Amazon and eBay are also dependent on air transport for shipping of ordered goods. In recent times, these platforms have raked in billions by using air freight in their express shipping services.
Problems Facing the Air Freight Industry
Similar to other petroleum products, the price of jet fuel appreciates at an alarming rate. This results in exorbitant freighting fees, locking out small and medium-sized business.
Airplanes are subject to regular attack threats from terrorists. Consequently, companies are seeking alternative methods of shipping their cargo.
Despite the radical changes that have taken place in other transportation sectors, the air freight sector is yet to adopt any significant technological advancement.
Lack of Transparency
Inefficient management of inventories by logistics companies has resulted in the proliferation of trust issues within the air freight industry.
What Is The Airchain Network Solution?
AirChain will rely on smarts contracts powered by blockchain technology to solve the problems mentioned above. Smart contracts are self-executing programs that carry out their specified functions after the occurrence of a trigger event. For instance, in the air freight sector, a smart contract can initiate the release of funds to the seller when a delivery is confirmed by the buyer. Typically, smart contacts are unalterable, eliminating the chance of fraud while enhancing transparency.
The ANK Token
This is the native currency of the AirChain Ecosystems, through which holders can claim ownership of parcels sent on the Airchain platform. This utility facilitates direct P2P payments without the need for intermediaries.
The ANK Mobile App
Using this app, user can manage their digital wallets, send and receive both parcels and ANK tokens. It also has an encrypted chat functionality through which members can interact.
AirChain Network's initial coin offering will issue a total of 10,000,000,000 ANK tokens for its upcoming crowdsale. While a definite date is yet to be announced, user can look for updates on the official website. The hard cap for the ICO is set at $35 million.
Distribution of Funds
- Crowdsale events – 50%
- Founding Team – 30%
- Bounty and Referral – 6%
- Advisors – 3%
- Ecosystem – 11%