Taiwan Firms Laud Success of World’s First Aviation Tourism Blockchain Project

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Taiwan Firms Laud Success of World's First Aviation Tourism Blockchain Project

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The Two Taiwanese companies who partnered to launch the world’s first aviation tourism blockchain project have praised the outcomes of their attempts so far to tokenize the travel industry.

Huafu Enterprise Holdings Limited and Far Eastern Air Transport (FAT) have published a press release outlining their successes since launching the cooperative project earlier this year.

At the end of March, Huafu Group and FAT launched a three-month public offering of its own token, Airline and Life Networking (ALLN). The aim in offering its own digital currency was to readapt its own businesses of aviation, tourism, real estate, and property management towards a more digital-based economy.  Founded in 1990, Huafu Group’s business includes construction, travel agencies, and business hotels.

The most recent press release praises the project primarily for its progress in using blockchain in the travel economy and becoming the first aviation company backed by the biggest blockchain incubator, M.O.B.C. It also notes its token ALLN is the first to partner with Southeast Asia’s biggest digital asset exchange MBAex.

The company states that ALLN is the first of its kind to work with Maxonrow, the world’s first blockchain with an instant KYC function; self-described as the first network in the world that connects societies, governments and businesses with the real economy through blockchain technology. COO of Haufu, Tseng Chin-Chih, commented:

“61 years ago, Far Eastern Air Transport became Taiwan’s first aviation company…. 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.”

The company was keen to point out that its ALLN token is now available as a payment tool that customers could use for booking their itineraries through a travel agent, including purchasing flights. The advantage being that, travelers would have no need to provide proof of identity when purchasing tickets, which were fully transferable. The token also enables the client with a blockchain tool to leave feedback and recommendations for other travelers.

Also, Taiwan is reportedly planning to release the initial draft of its ICO regulations early next year with an aim to simplify regulations and increase token liquidity,

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