London, United Kingdom, August 7th, 2024, Chainwire
Blockchain-based solution drives significant improvements in data visibility, accuracy and operational efficiency within cargo handling sector, according to research conducted by Aventus at Heathrow Airport
Airlines can benefit from overall cost savings in their cargo handling operations by leveraging Web3-based solutions, according to a study conducted by Aventus & Airport Perishables Handling (APH) at Heathrow Airport.
The existing toolset used for global ULD management has remained unchanged since the 1990s and relies heavily on manual data inputs, resulting in critical challenges with data visibility and accuracy, secure information sharing, and costly ULD losses, damages and delays – costing airlines north of $1.6 billion annually.
Web3, through blockchain technology, offers a robust solution to the challenges of traditional ULD management, by:
Enabling immutable, tamper-proof records that provide a single source of truth, eliminating disputes and improving regulatory compliance;
Reducing administrative overhead and minimize errors by automating manual processes via self-executing smart contracts;
Enabling real-time visibility into ULD location, custodianship and condition, and streamlining data sharing to enable airlines to optimize operations.
In a pilot study conducted at Heathrow Airport, Aventus, an industry-leading provider of end-to-end Web3 solutions for enterprises and parachain on Polkadot, found that its end-to-end blockchain-based cargo handling solution drives improvements in data visibility, accuracy and operational efficiency within the cargo handling sector.
90% reduction in communication and error incidents as a result of digitized data capture;
83% reduction in manual documentation time;
81% reduction in time between ULD stock updates from 3-4 hours to just 30 minutes, enabling real-time decision-making; and
28% reduction in loading times as a result of optimized ULD loading workloads.
Alan Vey, Founder at Aventus, comments: “These results are truly remarkable, underscoring the transformative potential of blockchain for not only the aviation industry but for supply chains globally. 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 to only improve via network effects.”
Michelle Roosevelt, Director at Aviation Perishables Handling, adds: “Aventus' technology is fast and responsive, which is key in our busy airport environment. 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.”
Aventus’ aviation solution brings partnerships with major enterprises to the Polkadot ecosystem, including Aviation Perishables Handling at Heathrow Airport, Vodafone’s Digital Asset Broker, as well as other major airlines across Asia and the Middle East.
For more information on the study, users can download the full report here.
About Aventus
Aventus transforms how customers create trust and unlock growth, crafting pioneering Web3 solutions for brands, from creating more connected, integrated experiences to enhancing traceability, transparency, and product authentication. Founded in 2020, Aventus is the only trusted digital product extension platform that provides a secure and reliable Web3 environment for customers to launch market-leading programs and product activations.
With deep industry expertise and a strong understanding of enterprise needs, Aventus delivers the best feature sets of Web3 with the familiarity of Web2, driving significant brand reputation, trust, and enterprise growth for its customers. Its production-ready, end-to-end Blockchain-as-a-Service software is modular, scalable, and interoperable, giving clients the flexibility they need to respond to rapidly-evolving market opportunities.
Contact
Head of Marketing Ellie Hyman Aventus ellie.hyman@aventus.io
Disclaimer: Press release sponsored by our commercial partners.
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