Aventus Supply Chain Solution Demonstrates Blockchain’s Transformative Impact On Aviation Industry
In Brief
Aventus and Airport Perishables Handling report in new study that airlines can achieve 7% cost reduction in cargo handling ops by using Web3.
Digital product extension platform Aventus collaborated with Airport Perishables Handling (APH) at Heathrow Airport to release the pilot study titled “Web3 Takes Flight in Aviation: 2024 Aviation Supply Chain Outlook Report,” which suggests that airlines could achieve an overall cost reduction of 7% in their cargo handling operations by utilizing Web3-based solutions, among its key findings.
In addition, the current tools for global Unit Load Device (ULD) management have not been updated since the 1990s and depend largely on manual data entry. This has led to critical issues with data visibility and accuracy, secure information sharing, and costly ULD losses, damages, and delays, which collectively cost airlines over $1.6 billion each year.
Meanwhile, Web3, utilizing blockchain technology, offers a strong solution to the issues and challenges with traditional ULD management. It can provide immutable, tamper-proof records that serve as a single source of truth, which helps eliminate disputes and enhance regulatory compliance. Additionally, it reduces administrative overhead and minimizes errors by automating manual processes through self-executing smart contracts. Web3 also enables real-time visibility into ULD location, custodianship, and condition while streamlining data sharing to help airlines optimize their operations.
Aventus’s Solution To Enhance Data Visibility, Accuracy, And Operational Efficiency Of Cargo Handling Sector
Furthermore, the study conducted by Aventus highlighted that its end-to-end blockchain-based cargo handling solution enhances data visibility, accuracy, and operational efficiency in the cargo handling sector. Specifically, it achieves a 90% reduction in communication and error incidents due to digitized data capture, an 83% decrease in manual documentation time, and an 81% reduction in the time required for ULD stock updates, cutting it from 3-4 hours to just 30 minutes, thereby enabling real-time decision-making. Additionally, it results in a 28% decrease in loading times through optimized ULD loading processes.
“These results are truly remarkable, underscoring the transformative potential of blockchain for not only the aviation industry but for supply chains globally,” said Alan Vey, Founder at Aventus, in a written statement. “We are proud to be empowering enterprises to enhance data accuracy, reduce operational inefficiencies, and achieve greater transparency. As we expand our partnerships across North America, Europe, the Middle East, and Asia, we anticipate these results will only improve through network effects,” he added.
Aventus develops Web3 solutions for brands, aiming to enhance experiences and improve traceability, transparency, and product authentication. Its digital product extension platform provides a reliable Web3 environment for customers to launch various programs and product activations.
Its aviation solution establishes partnerships with major enterprises within the Polkadot ecosystem, including APH at Heathrow Airport, Vodafone’s Digital Asset Broker, and various major airlines across Asia and the Middle East.
“Aventus’ technology is fast and responsive, which is key in our busy airport environment,” said Michelle Roosevelt, Director at Aviation Perishables Handling, in a written statement. “We’ve seen huge improvements in productivity. The app is more than a tool – it’s reshaped how we manage and track our aircraft containers, and the Aventus team’s support and expertise in meeting our needs has been outstanding,” she added.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
