A recent study conducted by Aventus at Heathrow Airport in London has revealed that blockchain-based solutions are driving significant improvements in data visibility, accuracy, and operational efficiency within the cargo handling sector. The research conducted by Aventus and Airport Perishables Handling (APH) at Heathrow Airport indicates that airlines can benefit from cost savings in their cargo handling operations by utilizing Web3-based solutions.
The current tools used for global ULD (Unit Load Device) management have not seen significant changes since the 1990s, relying heavily on manual data inputs. This outdated system leads to challenges such as poor data visibility and accuracy, insecure information sharing, and costly ULD losses, damages, and delays, resulting in airlines losing over $1.6 billion annually.
Web3 technology, utilizing blockchain, offers a solution to these challenges by providing immutable, tamper-proof records that act as a single source of truth, reducing disputes and enhancing regulatory compliance. Additionally, automation through self-executing smart contracts minimizes errors and administrative overhead. Real-time visibility into ULD location, custodianship, and condition is also enabled, allowing airlines to optimize their operations efficiently.
In a pilot study conducted at Heathrow Airport, Aventus found that their end-to-end blockchain-based cargo handling solution led to significant improvements:
– A 90% reduction in communication and error incidents due to digitized data capture
– An 83% reduction in manual documentation time
– An 81% reduction in the time between ULD stock updates, enabling real-time decision-making
– A 28% reduction in loading times through optimized ULD loading workloads
Alan Vey, Founder of Aventus, expressed his excitement about the transformative potential of blockchain technology for the aviation industry and global supply chains. He emphasized the importance of enhancing data accuracy, reducing operational inefficiencies, and achieving greater transparency. As Aventus expands its partnerships across various regions, including North America, Europe, the Middle East, and Asia, they anticipate even better results through network effects.
Michelle Roosevelt, Director at Aviation Perishables Handling, praised Aventus’ technology for its speed and responsiveness in the busy airport environment. She highlighted the significant improvements in productivity and how the app has reshaped the management and tracking of aircraft containers. Aventus’ support and expertise in meeting the needs of their clients have been outstanding.
Aventus’ aviation solution has formed partnerships with major enterprises in the Polkadot ecosystem, including Aviation Perishables Handling at Heathrow Airport and Vodafone’s Digital Asset Broker, as well as other airlines in Asia and the Middle East.
For more information on the study, interested users can download the full report on the Aventus website. Aventus aims to revolutionize how customers create trust and unlock growth by providing innovative Web3 solutions for brands, enhancing traceability, transparency, and product authentication. Founded in 2020, Aventus is a trusted digital product extension platform that offers a secure Web3 environment for launching market-leading programs and product activations.
With a deep understanding of enterprise needs and industry expertise, Aventus delivers top-notch Web3 features while maintaining the familiarity of Web2, driving significant brand reputation, trust, and enterprise growth for its clients. Their Blockchain-as-a-Service software is modular, scalable, and interoperable, providing clients with the flexibility needed to respond to evolving market opportunities.
For any inquiries, readers can contact Ellie Hyman, Head of Marketing at Aventus via email at [email protected]