The new age of the internet is here: Web3 incorporates blockchain technologies and token-based economics and is essentially user-owned and operated.
London-based technology provider Aventus onboards companies to Web3, enabling them to streamline operations. The company’s goal is to use Web3 tech to optimize and modernize supply chain operations; one of its largest clients in the air cargo industry is London Heathrow Airport (LHR).
The company was founded in 2016 and raised $20 million from the Global Advisors Bitcoin Investment Fund in two rounds of funding.
Aventus founder and Chairperson Alan Vey discusses how Web3 technology works, how it benefits supply chain operations and how the air cargo industry is lagging other sectors in digitalization in this episode of “On Air with Air Cargo Next.”
“The technology that is required to create this digital ownership model that exists within Web3 is blockchain,” Vey said. “And blockchain is basically … a new kind of database. It has certain properties that never previously were possible in software databases. And some of those properties lend themselves very well to supply chain use cases.”
Listen to the full episode below.