Boeing Leverages Honeywell’s GoDirect Blockchain Network to Track $1B In Parts

The leading U.S airplane manufacturer might significantly change the game for blockchain adoption as per this development. On the other hand, Honeywell, a North Carolina based conglomerate, with aerospace services as part of its portfolio will ultimately increase its blockchain stakeholders given Boeing’s integration. Honeywell’s general manager, Lisa Butters, announced this partnership during the Hyperledger Fabric Global Forum 2020 held in Arizona.

Butters highlighted that Boeing had recorded an additional $1 billion worth of parts that the manufacturer intends to track via Honeywell’s Go Direct DLT. This is expected to improve Boeing’s follow-up on safety compliance practices in an ecosystem where airplane parts can be resold as much as 4 times. Currently, the market is at an estimated $14 billion with only 3% of this trade taking place online. The Go Direct network however has the potential to change this narrative given a blockchain environment where authentication is faster and less costly.

Notably, Go Direct uses the Hyperledger Fabric with a permissioned approach to access the blockchain network. This type of infrastructure has been under criticism and at times dismissed for having centralized features as opposed to a fully decentralized ecosystem. Butters however defended Honeywell’s Hyperledger Fabric noting it was the best strategy to provide distributed ledgers for enterprises;

“GoDirect Trade runs on Hyperledger Fabric. If anyone argues about the fact that this is a permission-based network that is supposed to be decentralized then they are killing the dream of enterprise blockchain before it starts. There is no way you will get Fortune 500 companies participating in blockchain networks and sharing data if there are not permissioned around that. You need some constraints for enterprises to operate in.”