SITA: blockchain tracking is to revolutionize aviation

SITA: blockchain tracking is to revolutionize aviation

With a digital passport, stored on the blockchain, aircraft parts should be able to identify themselves in the future. This should improve security in the aerospace industry and save billions of dollars.

As the Belgian IT cooperative Société Internationale de Télécommunication Aéronautique (SITA) announced in a press release on Tuesday, February 4, they will now track, trace and record the journey of individual aircraft parts with the MRO Blockchain Alliance. This means maintenance, repair and overhaul (MRO). This could save the industry an estimated $ 3.5 billion. The accounting firm PwC reported it in April 2019. Blockchain technology should now help to exploit this savings potential.

Massive sales and no efficient network

So far, every single aircraft part has gone through various logistical production chains that are spread over several stakeholders and stations. In principle, there is no exchange between them. Given the massive size of the aerospace industry, effective networking of stakeholders would be particularly important for this reason. The industry had sales of $ 838 billion in 2018. This pretty much corresponds to the total gross domestic product of the Netherlands in 2017. PwC's calculations showed that global sales using blockchain could increase by up to 4 percent or $ 40 billion. So as much as the Samsung Group, the South Korean tech giant, earned over the past year.

Blockchain: faster, easier, safer

The blockchain alliance's plan: After being manufactured, each aircraft part is recorded with all relevant data, for example the test number, in the blockchain using a so-called “digital thread” and a digital passport. The digital (red) thread works like a complete documentation. This enables the complete maintenance history of a single aircraft part to be traced in real time, from the manufacturer to the airline and the MRO service provider. In contrast, the digital passport corresponds to a passport with a proven identity. This explains the possible savings: processes are faster, easier and safer.

In addition, the individual stakeholders are connected via a network. This includes, for example, the airline Cathay Pacific, but also original equipment manufacturers such as the engine manufacturer HAECO Group, logistics providers such as Bolloré Logistics and maintenance companies. Matthys Serfontein is the chairman of Luftfra ch t-transport solutions at SITA. He can be quoted in the press release:

This initiative is part of SITA's ongoing investigation into blockchain, a technology that we believe offers a tremendous opportunity to simplify the exchange and recording of information across the aviation industry.

Blockchain technology is also increasingly entering the logistics sector outside of the aviation industry. Whether coffee , clothing or cobalt : more and more value chains are being represented on the blockchain.

►Website: http://axtschmiede.com

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