Recent research conducted by Aventus & Airport Perishables Handling (APH) at Heathrow Airport reveals that airlines can save up to 7% on their cargo handling operations by leveraging Web3-based solutions.
For over three decades, the global ULD management toolset has remained unchanged, relying heavily on manual data inputs. This outdated system poses significant challenges such as lack of data visibility and accuracy, insecure information sharing, and costly ULD losses, damages, and delays, amounting to over $1.6 billion in annual expenses for airlines.
Web3 offers a viable solution to the issues plaguing traditional ULD management through blockchain technology, which:
- Ensures tamper-proof, immutable records for a single source of truth, resolving conflicts and enhancing regulatory compliance;
- Reduces errors and administrative costs by automating manual tasks with self-executing smart contracts;
- Provides real-time insights into ULD location, custody, and condition, streamlining data exchange to aid airlines in operational management.
Aventus, a leading provider of end-to-end Web3 solutions for businesses and a parachain on Polkadot, conducted a pilot study at Heathrow Airport, demonstrating the significant benefits of their blockchain-based solution for the cargo handling industry in terms of data accuracy, visibility, and operational efficiency.
- Communication errors and mishaps decreased by 90% due to digital data collection;
- Manual documentation time reduced by 83%;
- Real-time decision-making enabled by an 81% decrease in ULD stock update intervals;
- Improved ULD loading workloads led to a 28% decrease in loading times.
Alan Vey, the Founder of Aventus, expressed his excitement over the transformative impact of blockchain technology on the aviation industry and global supply chains. He emphasized the importance of enhancing data accuracy, reducing operational inefficiencies, and achieving greater transparency through blockchain solutions.
“These results highlight the transformative potential of blockchain technology for the aviation industry and global supply chains. We are dedicated to empowering enterprises to enhance data accuracy, reduce operational inefficiencies, and achieve greater transparency.”
Michelle Roosevelt, the Director at Aviation Perishables Handling, praised Aventus’ technology for its speed and responsiveness, noting significant improvements in productivity and operational efficiency at Heathrow Airport.
“Aventus’ technology has reshaped how we manage and track our aircraft containers, leading to significant improvements in productivity. The team’s support and expertise have been outstanding in meeting our needs.”
Aventus’ aviation solution has forged partnerships with major businesses in the Polkadot ecosystem, including Vodafone’s Digital Asset Broker, Aviation Perishables Handling at Heathrow Airport, and prominent airlines in Asia and the Middle East.
For further insights, the complete research report can be downloaded here.
Aventus is at the forefront of developing cutting-edge Web3 solutions for companies, revolutionizing trust-building and growth acceleration. Their solutions enhance product authenticity, traceability, and transparency, creating integrated and connected experiences for consumers. Established in 2020, Aventus is a trusted digital product extension platform offering a secure Web3 environment for industry-leading initiatives and product activations.
Aventus combines the advanced features of Web3 with the familiarity of Web2, building brand recognition, trust, and business growth for their clients. With extensive industry experience and a deep understanding of corporate needs, their production-ready Blockchain-as-a-Service software is scalable, flexible, and interoperable, enabling clients to capitalize on rapidly evolving market opportunities.