Boeing Uses Blockchain to Track and Sell $1 Billion in Aerospace Parts
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March 9, 2020 - by Samuel Haig for cointelegraph.com
Boeing has partnered with multinational aerospace conglomerate Honeywell to use its GoDirect platform to track and sell $1 billion worth of excess airplane parts using blockchain technology.
The partnership was revealed at the Hyperledger Global Forum 2020 in Arizona. Lisa Butters, the general manager of Honeywell, stated that the parts were uploaded to the GoDirect Trade marketplace last weekend.
Blockchain opens spare aviation parts industry to online trade
The aviation industry has traditionally relied on a headache-inducing web of paper certificates pertaining to each individual part, their original manufacturer, and current safety standards.
The documents must also be physically moved between...