Taiwan’s First Real Life Application of Blockchain Technology to its Economy Achieved

Taiwan’s First Real Life Application of Blockchain Technology to its Economy Achieved

blockchain application

Huafu Enterprise Holdings Limited has partnered with Far Eastern Air Transport to deliver the world’s first aviation tourism blockchain asset. The partnership between the two companies has led to Taiwan’s first application of blockchain technology to the real economy.

Four Achievements of the Partnership

The collaboration between Huafu Enterprise Holdings Limited, (the issuer of the ALLN Networking Token) and the Far Eastern Air Transport has led to the inclusion of blockchain technology to Taiwan’s economy through the aviation industry.
Based on a recent press release, the collaboration between the two companies has achieved four things. These four achievements have been described as the first of its kind in the country.

The press report stated these four achievements:
The first aviation company in Taiwan to use blockchain in the real economy.
The first aviation company and token to be in alliance with the biggest blockchain incubator, M.O.B.C.
The first aviation tourism digital asset (ALLN) to partner with Southeast Asia’s biggest digital asset exchange MBAex.The first token to collaborate with MAXONROW, the world’s first blockchain with an instant Know Your Customer process, optimizing the quality of blockchain assets by using a state of the art identity management framework that can provide instant verification of a customer’s background.”

The Far Eastern Air Transport has recorded many firsts in its 61 years of existence. This was further emphasized by the Chief Operating Officer of Huafu Enterprise Holdings Limited, Tseng Chin-chih.

He stated that:
“61 years ago, Far Eastern Air Transport became Taiwan’s first aviation company. At the same time, it was also the first company with flights to Mainland China. Now that we have Huafu’s ALLN Networking Token set into action, we are once again pioneers in the world of aviation tourism by applying blockchain technology to the real economy. By setting this example, we look forward to more corporations to join and lead Taiwan’s economy into the next era.”

ALLN Networking Token

The ALLN Networking Token is well-known for its alliance with several top-ranking blockchain companies such as MBAex—Southeast Asia’s biggest digital asset exchange Maxonrowand M.O.B.C.

A previous report documenting the aims, objective and how the network functions stated that:
“Travelers can choose ALLN as the payment tool for booking their itinerary via a travel agent and tracing the blockchain data for acceptance checking. ALLN’s smart contract allow consumers to buy a ‘right of ownership’ of flight tickets. So, consumers don’t need to provide ID or name when booking and paying the ticket. At last, consumers can transfer the rights to anybody or issue the tickets for self-using before the deadline set by airlines. The restaurants or duty-free shops in the airports are the scenarios for all flight-passengers in travel. However, the quality of the restaurants and shops is a question mark for travellers. ALLN is not only a payment tool providing a bridge between businesses and consumers of air transport and tourism in airports, but also a blockchain tool to evaluate the services and commodities when the owner pays at checkout. This permanent data saving technology supports other travelers a reference to select a restaurant or shop also improves the businesses to provide high qualities service and goods.”