Identity

Polkadot

Million

Aventus

<ul class="list-ic vertical"> 
 <li> 1 <a>Polkadot parachains are showing its potential development strategy with its partnership.</a> </li> 
 <li> 2 <a>A parachain of Polkadot blockchain recently announced its partnership with Vodafone Group.</a> </li> 
</ul> 
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.” 
<blockquote class="twitter-tweet"> 
 Missing cargo costs the airline industry $400M per year<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2708.png" alt="✈" class="wp-smiley" style="height: 1em; max-height: 1em;"> A partnership between <a href="https://twitter.com/VodafoneGroup?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@VodafoneGroup</a> and Polkadot parachain <a href="https://twitter.com/AventusNetwork?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@AventusNetwork</a> aims to reduce these losses. Learn more about how Polkadot tech helps improve security &amp; supply chain reliability in the aviation sector, and… <a href="https://t.co/42p6NcAdeW" rel="noopener noreferrer nofollow">https://t.co/42p6NcAdeW</a>— Polkadot (@Polkadot) <a href="https://twitter.com/Polkadot/status/1687041644145577985?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 3, 2023</a> 
</blockquote> 
<h2 class="wp-block-heading" id="strong-the-highlights-of-polkadot-parachain-s-partnership-strong">The Highlights of Polkadot Parachain’s Partnership</h2> 
According to Aventus, their partnership with Vodafone brings secure <a href="https://www.thecoinrepublic.com/2022/06/23/ledger-introduces-new-nft-marketplace-and-web3-services-platform-for-businesses/" target="_blank" rel="noopener noreferrer nofollow">Web3 services </a>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.” 
<h3 class="wp-block-heading" id="strong-how-will-their-partnership-work-strong">How Will Their Partnership Work?</h3> 
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.

Polkadot Parachain Aventus Join Hands With Vodafone Group

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 4, 2023

Africa's Tech Future: UABA Launches First Blockchain Kids' Book

Arkham Intelligence offers bounty for identifying FTX hacker

Bitcoin Remains Stable At $29.2K, Asia Session Shows Limited Market Activity

McKesson Corp. (MCK Stock) Tops Q2 Estimates; Shows Bullishness

Analyst: Political Pressure Surrounds Crypto ETF Applications

Big Move in SAND Before Sandbox’s $134M Token Unlock

Join our free newsletter for daily crypto updates!