A blockchain ledger provided by Honeywell will change the game for record-keeping in the aerospace industry.
Honeywell, a Fortune 100 technology-oriented and a publically traded company on (NYSE: HON) has come up with a solution to digitize aircraft records effectively, in the aerospace infrastructure via blockchain tech.
Through a recent press release, the technology and aerospace giant updated its initiative on fully integrating blockchain technology towards maintaining the aircraft’s record-keeping process via blockchain ledger.
In the aerospace industry, this is the first time that any firm has taken a step to introduce such a creative level of “speed and efficiency” focused solution.
The new use-case of blockchain by Honeywell is apparently providing relief to its customers and offers an easy way to trace, “search, and retrieve scattered data through a simple user interface.”
According to the release, the customers of Honeywell who have access to the platform will have a copy of the database which enables them to know the real-time contents in a matter of minutes.
With this new integration, Honeywell via its blockchain-based on-chain data storage platform provides the solution to the decades felt complexity in maintaining and keeping the aerospace parts documents and related services.
Earlier, the data is being stored in the PDF files, however, now Honeywell will facilitate to store the actual form of data via “on-chain.” Now customers don’t need to worry about the missing paperwork.
With this integration, the missing data can be retrieved by the user interface, just by putting the part number and serial number via Honeywell’s blockchain.
The blockchain technology-based storage mechanism is solving a difficulty, in gathering the data quickly, which was earlier a cumbersome and critical process for airlines because the lofty use of paperwork and dozens of repair facilities were not integrated into any proper system.
The release reads:
“Generally, airlines and operators commonly deal with lost, printed paperwork associated with a part. This paperwork, or “trace documents,” is critical to maintaining the value of a part’s worth.”
Honeywell is integrating the “on-chain” solution for record-keeping via its subsidiary GoDirect Trade that launched in late 2018. GoDirect is an online marketplace for buying and selling used and new aircraft parts.
Earlier, Honeywell with the launch of GoDirect Trade experimented blockchain tech which became successful for the multinational conglomerate.
Blockchain Isn’t Just Limited to Aerospace
The digital transparency which blockchain offers is creating trust in its purest form among the parties deploying it practically.
“Honeywell’s offering is like a search engine, but it works for anything and everything related to aircraft parts and service” stated, Lisa Butters, general manager for Honeywell’s GoDirect Trade.
According to Butters, blockchain is a “game-changing technology” which is unprecedently providing a simple and transformative solution to the aircraft owners and airlines around the world, to effectively maintain the records in its pure form.
Butters said, “This isn’t just about Honeywell data. This is not just about aerospace data. Whether you are in aerospace, automotive, electronics, or consumer products, I envision all manufacturing OEMs and repair shops pushing quality documentation and part provenance data to the blockchain, so customers have easy access.”
The manufacturer and repairer of aerospace parts claiming to offer immutable, searchable, and accessible aerospace parts, and repair data information to everyone in its permissions-based ecosystem. However, the complete information is yet to be disclosed by the firm about the backend technology.