Aventus Supply Chain Solution Demonstrates Polkadot’s Impact on Aviation Industry

London, United Kingdom, August 7th, 2024 – Chainwire

A recent study by Aventus, conducted in collaboration with Airport Perishables Handling (APH) at Heathrow Airport, reveals significant benefits of blockchain solutions for cargo handling.

The research highlights that airlines can achieve substantial cost savings by adopting Web3 technologies. Traditional global Unit Load Device (ULD) management tools have remained outdated since the 1990s, relying on manual data inputs, which leads to issues with data visibility, accuracy, and secure information sharing. These inefficiencies result in ULD losses, damages, and delays, costing airlines over $1.6 billion annually.

Web3 technology, leveraging blockchain, addresses these challenges by:

• Providing immutable, tamper-proof records that ensure a single source of truth, reducing disputes and enhancing regulatory compliance.

• Automating manual processes through self-executing smart contracts, thereby cutting administrative overhead and minimizing errors.

• Offering real-time visibility into ULD location, condition, and custodianship, and streamlining data sharing for optimized operations.

In a pilot study at Heathrow Airport, Aventus demonstrated that its blockchain-based cargo handling solution significantly enhances data visibility, accuracy, and operational efficiency. Key findings include:

• A 90% reduction in communication and error incidents due to digitized data capture.

• An 83% decrease in manual documentation time.

• A reduction in ULD stock update intervals from 3-4 hours to just 30 minutes, enabling real-time decision-making.

• A 28% decrease in loading times due to optimized ULD loading processes.

Aventus’ innovative aviation solution is now forging partnerships with major enterprises in the Polkadot ecosystem, including Aviation Perishables Handling at Heathrow Airport, Vodafone’s Digital Asset Broker, and other leading airlines across Asia and the Middle East.

Source: https://www.the-blockchain.com/2024/08/07/aventus-supply-chain-solution-demonstrates-polkadots-impact-on-aviation-inudstry/