The Honeywell conglomerate wants to integrate its databases into the block chain. This should accelerate and simplify documentation processes and storage mechanisms for their customers.
Honeywell had already launched its blockchain platform “GoDirect Trade” at the end of 2018. This was a marketplace for new and used aircraft parts, which was intended to ensure greater security for buyers. Today, more than 2,700 companies and 7,000 users use GoDirect Trade and since the platform was launched, over 8 million USD in transactions have been processed.
In a press release this week, they stated that their block chain will now include a database.
Major innovation for the aerospace industry
Quick and easy access to their data is critical for airlines, since most of them use dozens of repair shops and the paperwork of each one is not integrated.
In addition, airlines and companies usually have to deal with lost, printed documents relating to a component. These papers or “traceability documents” are critical to maintaining the value of a part.
Easy access to important data
Honeywell’s Blockchain is a secure, distributed database that can be shared by all authorized users. Every user Honeywell authorizes has a copy of the database and knows its contents in real time. Instead of storing only PDF documents or a reference to the digital aircraft record, Honeywell now stores the actual form data onchain.
This data is used to reconstruct aircraft records, including records that prove that the U.S. Federal Aviation Administration has certified the safety of aircraft parts. Customers can access these records, and in case of missing documents, customers can simply enter the part number and serial number, and the user interface will retrieve the data from the block chain and “reconstruct” the missing document.
This move by Honeywell opens many new doors for the manufacturing industry.
“Blockchain is unique because it is a team sport. This is not just about Honeywell data. In fact, this is not even just about aerospace data. Whether you’re in aerospace, automotive, electronics or consumer electronics, my idea is that all manufacturing OEMs and repair shops will pass on quality documentation and component origin data to Blockchain for easy access by their customers”. – Lisa Butters, Block Chain Department Manager at Honeywell
*Originally published in German at CVJ.ch