Honeywell tracks $ 1 billion Boeing aircraft parts with blockchain technology

Boeing has added more than $ 1 billion in additional aircraft parts to the aviation parts business platform GoDirect Trade. GoDirect Trade is a blockchain platform designed by aerospace giant Honeywell, which aims to prove the origin of parts and ensure they meet safety standards. The platform connects the supply layer to a single, shared transaction ledger and transparently tracks their movements. Boeing must set up a digital storefront on GoDirect Trade, a process that takes about two minutes. After creating a storefront, trusted companies can load their excess and outdated materials directly onto the platform via the API or by transferring text files directly to Honeywell.