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GoDirect Trade (a blockchain for sale of parts of airplanes)

Product
Developers: Honeywell
Date of the premiere of the system: January, 2019
Branches: Transport

2018: Start of the platform

At the end of 2018 Honeywell started one of the first a blockchain systems in the field of corporate trade. It is about the platform for sale of GoDirect Trade aviation spare parts.

Honeywell uses a blockchain to be convinced that the documents certifying product quality and images correspond to the part offered for sale. The companies have a division of Honeywell Aerospace Trading (HAT) which sells the certified spare parts which were in the use, and not just products of Honeywell. Thanks to the new platform the company takes a step forward, allowing buyers and sellers to communicate directly, the press release says.

Since December, 2018 six large space companies — Dassault Falcon Jet, StandardAero, Turbo Resources, H+S Aviation, Honeywell Inertial Measurement Units and WG Henshen — provided the products in online store. By the end of 2019 of Honeywell is going to attract over 100 companies.

Honeywell started a blockchain system for sales of parts of airplanes on the Internet

In spite of the fact that e-commerce covers many spheres, it was not widely adopted in the space industry.

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By the beginning of 2019 of 2.5% of all transactions in this area are made online — the general manager of Honeywell GoDirect Trade Lisa Butters says. — Still an opportunity to buy spare parts online, comparing the prices, seeing the image of a product and necessary certificates, in one place it was unimaginable for the aviation industry.
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An opportunity to store history of a product and all quality certificates which are offered by blockchain technology is attractive to the space sector. In 2018 Accenture company published a research according to which 86% of the space or defense companies expect implementation of a blockchain in the systems by 2021.

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GoDirect Trade is a huge online market where people can buy and sell spare parts for the space systems — says Batters. — It can seem far from rocket production, but in the industry where the majority of all transactions of purchase and sale are made by e-mail and phone, there is no explicit winner when it comes about electronic trading in aerospace engineering. GoDirect Trade is going to change it".[1]
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Notes