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Polkadot Parachain Aventus Join Hands With Vodafone Group

source-logo  thecoinrepublic.com 04 August 2023 14:44, UTC

Polkadot, the blockchain platform is showing its progressive growth along with its parachain’s further development plans. Recently, one of the parachains of Polkadot, Aventus Network, announced its partnership with Vodafone Group, a British multinational telecommunications company.

On August 3, 2023, Aventus shared a tweet that states their partnership with Vodafone Group is “bringing Web3 to Vodafone’s business clients via a bridge between Vodafone DAB and the Aventus Network.” On the other hand, Polkadot further added in its tweet that “missing cargo costs the airline industry $400 Million per year, and with this partnership, they will aim to reduce these losses.”

Missing cargo costs the airline industry $400M per year✈️ A partnership between @VodafoneGroup and Polkadot parachain @AventusNetwork aims to reduce these losses.

Learn more about how Polkadot tech helps improve security & supply chain reliability in the aviation sector, and… https://t.co/42p6NcAdeW

— Polkadot (@Polkadot) August 3, 2023

The Highlights of Polkadot Parachain’s Partnership

According to Aventus, their partnership with Vodafone brings secure Web3 services to businesses and strategic partners. On the other hand, Vodafone mentioned on its official site that its ‘Economy of Things’ Digital Asset Broker (DAB) business is connected with Aventus. This will “help enterprises adopt Web3 – the new blockchain-based decentralized world wide web.”

The telecom company also stated that with Aventus, they are “developing a solution that involves equipping cargo tracking pods with blockchain-enabled SIM cards connected to the DAB platform.”

According to Vodafone, nearly 5% to 10% of cargo pods go missing annually which costs the industry almost $400 Million. With their solution, it “aims to reduce these losses and builds on Aventus’ existing relationships at Heathrow Airport where Aventus’ blockchain solutions are used to manage aircraft unit load devices for tracking luggage, freight, and mail.”

Vodafone added about Aventus that it “offers business solutions that incorporate Internet of Things (IoT) and secure enterprise-grade and trusted public blockchains. It also provides a digital record or ledger of online transactions.”

Furthermore, as a first step, these companies will “establish a bridge between Vodafone DAB and the Aventus Network, which connects to the wider blockchain ecosystem via the Polkadot platform.”

How Will Their Partnership Work?

As Vodafone explained, when the business customers and strategic partners of Vodafone DAB connect with the Aventus Network, they can access and interoperate with many trusted blockchains in a controlled and secure manner. However, for access, they will use the DAB IoT Identity Passport.

It must be noted that any trusted device connected to Vodafone DAB is assigned a unique identity passport. After using secure links, the device is “automatically allowed to trade data and money from different organizations and ecosystems (like an electric vehicle securely transacting with a charging point).”

Furthermore, Vodafone DAB will also join the Aventus Network as a validator that will help to secure the network and contribute to its decentralization. Notably, in May 2023, Vodafone DAB became a separate standalone business.

With this partnership, it can be seen that both companies believe that interoperability is the key to realizing the full potential of blockchain technology. Additionally, their partnership also drives the new economy of things.