Airlines can save up to 7% in overall cargo handling operations using blockchain-based supply chain management solutions, which is another testament to the technology’s disruption potential.
Airlines saved 7% in cargo handling operations in a recent study conducted at Heathrow Airport by Aventus, a firm offering enterprise-grade blockchain-as-a-service solutions.
Beyond the 7% cost reduction, airlines also saw improved operational efficiency during the study, according to Alan Vey, the founder of Aventus.
Vey told Cointelegraph:
“Faster turnaround times, faster container location, and more streamlined communications between airlines and ground handlers... Airlines and cargo handers can redeploy the time saved on more productive operations, which is where this cost saving comes from.”
Blockchain experts are optimistic about the technology’s potential for disrupting major industries, but many of the envisioned use cases have yet to materialize. Blockchain applications saving costs in major industries, such as aviation, could significantly boost enterprise blockchain adoption.
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Over 90% fewer communication errors thanks to blockchain technology
Aventus has also achieved a 90% reduction in communication and error incidents for airlines.
This was achieved mainly due to the outdated Unit Load Devices (ULDs), as airports have been using the same models since the 1990s.
However, Aventus was able to reduce the human errors caused by the outdated ULD models, Vey explained:
“We enable airlines and ground handlers to digitize these processes, saving time and streamlining operations. Blockchain is a crucial part of this process, used to securely store important documentation for compliance purposes.”
The outdated ULD management systems are costing airlines over $1.6 billion on an annual basis, according to Aventus.
Averus is already partnering with global airlines across Asia, Europe and the Middle East, to help them digitize their tracking solutions.
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Airlines can achieve a 28% reduction in loading times
By optimizing the outdated ULD workloads, one pilot reduced loading times by 28%.
Manual documentation time was also reduced by 83%, creating more capacity among airline workers.
Michelle Roosevelt, the director at Aviation Perishables Handling, called Aventus’ Web3 stack “fast and responsive,” according to a report shared with Cointelegraph:
“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…”
Blockchain can’t be ignored by the aviation industry, which is “ripe for innovation in general,” Aventus’ Vey added.
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