General Electric built Azure-based blockchain system for sales of plane engines

At the beginning of May, 2019 the developer of aviation GE Aviation engines announced that he using the blockchain platform created based on cloud infrastructure of Microsoft Azure will monitor production of plane parts, to control their deliveries and also operation and repair of motors.

Aviation engines are considered as quick assets – within five years about 60% from them are resold, but it is necessary to provide documents which in a paper format can be lost or forged for the legal conclusion of the transaction. The new blockchain technology will help GE Aviation to bring spare parts of the jet engine to public market with proper documentation again. Besides, clients of GE Aviation, such as Delta and British Airways, will be able to keep account of use of each part of the engine in the history of flights, and later to transfer data to GE Aviation for timely replacement of parts.

General Electric constructed on Azure a blockchain system for sales of plane engines

The blockchain technology will allow to store crucial data in a uniform format and in time to provide them to users. The company considers that increase in efficiency and visualization of process of creation of the engine will allow clients to be convinced of quality of the delivered goods independently. Besides, the solution blockchain will integrate all links of deliveries of GE Aviation to one chain so that the company will receive complete understanding of all business processes of partners.

GE Aviation also develops a new business model in the form of the TRUEngine center where clients will be able to purchase spare parts and to sign the technical service contract of engines. First of all GE Aviation will conclude contacts with those airlines which already purchased engines of its production – Delta, Southwest Airlines and British Airways. All data on transactions are registered and stored on a blockchain platform.

By May, 2019 GE Aviation tests new blockchain technology on real data and business processes with real clients.^[1]

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