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Honeywell recently announced the launch of its online shopping and sales platform for new and used aircraft parts. Not only are online transactions in this space extremely rare, but Honeywell is doing something even more unusual: using blockchain technology. According to Lisa Butters, head of Honeywell Aerospace venture, "Currently, less than 2.5 percent of all transactions in this space are made online." She continues: "We are the first market to offer custom shop windows and we are the first to take advantage of blockchain technology to create trust between buyer and seller."
Honeywell's booth at the National Business Aviation Association conference at the Las Vegas Convention Center in Nevada, USA, Wednesday, October 23, 2013. The show attracts more than 25,000 visitors and showcases private planes. Photographer: Jacob Kepler / Bloomberg& Acirc; © 2013 Bloomberg Finance LP
Because blockchain has been adopted
Honeywell believes that the success of its platform depends on the blockchain factor or as mentioned in the e-commerce platform: confidence. Clients need a way to ensure that the parts they are receiving are genuine, that they get the best prices and that they are safe from scams and potential problems. With blockchain, they are able to accurately track the parts, make sure they are accompanied by quality images and documents and are immediately available for sale and shipping. Now it seems that Honeywell has decided to try the new platform, they want to do it the right way.
A valid concern
According to Deloitte, the maintenance of an aircraft is a process that makes best use of cumbersome databases and, in the worst case, a paper system. A commercial airplane can be used up to 30 years and change five or six owners. Therefore, the detection of information (in particular maintenance documents) and their transfer to other parts becomes a difficult and error-prone process.
Blockchain creates an immutable record of an aircraft's maintenance history, details and timestamping that they performed as an inspection and when. This also has another, equally important side effect.
In 2015, the Federal Aviation Administration accused American Airlines of having committed maintenance fraud. The problem was reported by mechanics working in American Airlines who noted "aircraft maintenance discrepancies in accordance with federal aviation manuals, procedures and regulations". If a blockchain technology has been adopted, the probabilities of such deviations could be minimal (if not eliminated).
Not a silver bullet
While blockchain could solve some of the aforementioned problems, it has some strengths and weaknesses. According to Artem Orange, CEO of Aeron: "In aviation there is a great variety of guidelines that leaves little room for possible violations, so we can say that the entire aviation industry is quite effective and safe even without blockchain technology. that it's pretty hard to find a valid application for new solutions based on blockchain technologies. "He continues:" However, the examples of Aeron and Honeywell show that there are some applications out there, where blockchain is effective and provides solutions to real problems. "
What blockchain can do for aviation
The aviation industry has enormous potential for breaking the blockchain due to the numerous actors involved, which often come from different countries. According to Kevin O & Sullivan, chief engineer at SITA Labeach flight involves two airports and one airline, each of which manages its own separate databases. As such, blockchain technology offers the ideal solution without trust and decentralized to connect and coordinate all parts. In fact, an Accenture report predicts that more than 85% of the aerospace and defense companies will use the blockchain by 2021.
July 16th Accenture & nbsp; has announced a partnership with Thales use blockchain technology to provide a unique and shared view of the supply chain for suppliers, producers and partner operators. The next day, Boeing has announced a partnership with SparkCognition "Use artificial intelligence and blockchain technologies to track unmanned aerial vehicles in flight and allocate corridors and traffic routes to ensure safe and secure transportation."
In the same month, Singapore Airlines became the first airline in the world to launch a blockchain-based airline loyalty system. With this system, loyalty points do not accumulate anymore while passengers can redeem them on smaller and more local providers. Before that, Air New Zealand collaborated with Winding Tree use blockchain to improve baggage booking and location services, and Lufthansa has worked with the software giant SAP for flight booking, loyalty programs and supply chains.
It is obvious that the use of blockchain significantly reduces costs, such as intermediaries who sometimes paid up to 25% they have been removed. Banks are also removed, which not only reduces the associated costs, but speeds up the procedure and makes immediate payments and commissions available.
Finally, blockchain can be used for security and identity, where it not only offers a unified way to verify the identity of passengers, but also offers a very secure system where users can control who has access to their data, and in what extent.
Aeron has an interesting case of use: they apply this feature not to passengers, but to pilots. The Aeron app records the pilot's flight times on the blockchain and the system aims to track global data on airplanes and flight schools, which otherwise could easily be falsified. Considering fatal accidents where the pilots flew without a licensethis is a valid concern.
Trends for 2019
Blockchain had its dead time in 2018, but is still progressing slowly but surely. In the words of Artem Orange, "Aviation is one of the most regulated areas of human activity, so the introduction of new technologies requires long cycles of review and approval." It may be difficult for the blockchain to enter. in the field of aviation, but it is a field in which the shared ledger can be radically compromised, both for passengers and for pilots, as well as for companies.
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Honeywell recently announced the launch of its online shopping and sales platform for new and used aircraft parts. Not only are online transactions in this space extremely rare, but Honeywell is doing something even more unusual: using blockchain technology. According to Lisa Butters, head of Honeywell Aerospace venture, "Currently, less than 2.5 percent of all transactions in this space are made online." He continues: "We are the first marketplace to offer customized storefront for sellers and we are the first to take advantage of blockchain technology to create trust between buyer and seller".
Honeywell's booth at the National Business Aviation Association conference at the Las Vegas Convention Center in Nevada, USA, Wednesday, October 23, 2013. The show attracts more than 25,000 visitors and showcases private planes. Photographer: Jacob Kepler / Bloomberg© 2013 Bloomberg Finance LP
Because blockchain has been adopted
Honeywell believes that the success of its platform depends on the blockchain factor or as mentioned in the e-commerce platform: confidence. Clients need a way to ensure that the parts they are receiving are genuine, that they get the best prices and that they are safe from scams and potential problems. With blockchain, they are able to accurately track the parts, make sure they are accompanied by quality images and documents and are immediately available for sale and shipping. Now it seems that Honeywell has decided to try the new platform, they want to do it the right way.
A valid concern
According to Deloitte, the maintenance of an aircraft is a process that makes best use of cumbersome databases and, in the worst case, a paper system. A commercial airplane can be used up to 30 years and change five or six owners. Therefore, the detection of information (in particular maintenance documents) and their transfer to other parts becomes a difficult and error-prone process.
Blockchain creates an immutable record of an aircraft's maintenance history, details and timestamping that they performed as an inspection and when. This also has another, equally important side effect.
In 2015, the Federal Aviation Administration accused American Airlines of having committed maintenance fraud. The problem was reported by mechanics working in American Airlines who noted "aircraft maintenance discrepancies in accordance with federal aviation manuals, procedures and regulations". If a blockchain technology has been adopted, the probabilities of such deviations could be minimal (if not eliminated).
Not a silver bullet
While blockchain could solve some of the aforementioned problems, it has some strengths and weaknesses. According to Artem Orange, CEO of Aeron: "In aviation there is a great variety of guidelines that leaves little room for possible violations, so we can say that the entire aviation industry is quite effective and safe even without blockchain technology. that it's pretty hard to find a valid application for new solutions based on blockchain technologies. "He continues:" However, the examples of Aeron and Honeywell show that there are some applications out there, where blockchain is effective and provides solutions to real problems. "
What blockchain can do for aviation
The aviation industry has enormous potential for breaking the blockchain due to the numerous actors involved, which often come from different countries. According to Kevin O & Sullivan, chief engineer at SITA Labeach flight involves two airports and one airline, each of which manages its own separate databases. As such, blockchain technology offers the ideal solution without trust and decentralized to connect and coordinate all parts. In fact, an Accenture report predicts that more than 85% of the aerospace and defense companies will use the blockchain by 2021.
July 16th Accenture has announced a partnership with Thales use blockchain technology to provide a unique and shared view of the supply chain for suppliers, producers and partner operators. The next day, Boeing has announced a partnership with SparkCognition "Use artificial intelligence and blockchain technologies to track unmanned aerial vehicles in flight and allocate corridors and traffic routes to ensure safe and secure transportation."
In the same month, Singapore Airlines became the first airline in the world to launch a blockchain-based airline loyalty system. With this system, loyalty points do not accumulate anymore while passengers can redeem them on smaller and more local providers. Before that, Air New Zealand collaborated with Winding Tree use blockchain to improve baggage booking and location services, and Lufthansa has worked with the software giant SAP for flight booking, loyalty programs and supply chains.
It is obvious that the use of blockchain significantly reduces costs, such as intermediaries who sometimes paid up to 25% they have been removed. Banks are also removed, which not only reduces the associated costs, but speeds up the procedure and makes immediate payments and commissions available.
Finally, blockchain can be used for security and identity, where it not only offers a unified way to verify the identity of passengers, but also offers a very secure system where users can control who has access to their data, and in what extent.
Aeron has an interesting case of use: they apply this feature not to passengers, but to pilots. The Aeron app records the pilot's flight times on the blockchain and the system aims to track global data on airplanes and flight schools, which otherwise could easily be falsified. Considering fatal accidents where the pilots flew without a licensethis is a valid concern.
Trends for 2019
Blockchain had its dead time in 2018, but is still progressing slowly but surely. In the words of Artem Orange, "Aviation is one of the most regulated areas of human activity, so the introduction of new technologies requires long cycles of review and approval." It may be difficult for the blockchain to enter. in the field of aviation, but it is a field in which the shared ledger can be radically compromised, both for passengers and for pilots, as well as for companies.
