The use of blockchain reduces administrative overhead and minimizes errors by automating manual processes via self-executing smart contracts.
Aventus Supply Chain Solution believes in the capacity of blockchain to revolutionize the aviation industry. Furthermore, Aventus considers Polkadot as a major protocol that holds the required solution for the industry at this time. Markedly, Aventus is an industry-leading provider of end-to-end Web3 solutions for enterprises and parachains on Polkadot.
Blockchain Technology Can Fix Global ULD Management Challenges
Aventus and Airport Perishables Handling (APH) recently conducted a joint study at Heathrow Airport to give credence to the aforementioned argument. The Web3 solution provider found that its end-to-end blockchain-based cargo handling solution holds the capacity to bring significant improvements to data visibility, accuracy, and operational efficiency within the cargo handling sector.
Following the study, the firm concluded that the use of Web3 solutions could help airlines save up to 7% in their cargo handling operations. For the longest time, the same set of tools is utilized for global Unit Load Device (ULD) management. A large chunk of these existing tools requires manual inputs which is tedious and time-consuming.
In the long run, other challenges showed up bordering on data visibility and accuracy, secure information sharing, and costly ULD losses, damages and delays. At the end of the year, these airlines have operation costs running as high as $1.6 billion, at least in the case of Heathrow Airport.
With blockchain and Web3 solutions, most of these drawbacks become history. Based on the study conducted and existing use of blockchain technology, Aventus came to the conclusion that its solution can enable immutable, tamper-proof records that provide a single source of truth. This mitigates or totally eliminates the occurrence of disputes and improves regulatory compliance.
Also, the use of blockchain reduces administrative overhead and minimizes errors by automating manual processes via self-executing smart contracts. Additionally, it facilitates real-time visibility into ULD location, custodianship, and condition while streamlining data sharing to enable airlines to optimize operations.
Blockchain in Aviation Industry to Safe Cost
To put figures to these touted capacity of blockchain, Aventus noted that the potential integration of this solution will bring 90% reduction in communication and error incidents as a result of digitized data capture.
This is in addition to an 83% reduction in manual documentation time, an 81% reduction in time between ULD stock updates from 3-4 hours to just 30 minutes, enabling real-time decision-making; and a 28% reduction in loading times as a result of optimized ULD loading workloads.
“These results are truly remarkable, underscoring the transformative potential of blockchain for not only the aviation industry but for supply chains globally,” Aventus founder Alan Vey said. “We are proud to be empowering enterprises to enhance data accuracy, reduce operational inefficiencies, and achieve greater transparency.”
The Polkadot chain is lauded as one of the biggest enablers of crucial innovations. Its ability to drive massive adoption of blockchain solutions is widely talked about. Generally, there is a growing adoption of blockchain solutions across several sectors, ranging from sports, supply chain management, entertainment, finance, tokenization, and even Artificial Intelligence (AI).
