Boeing has reportedly teamed up with major aerospace corporation Honeywell, to utilize the GoDirect platform as a blockchain-based tracking and selling solution for $1 billion equivalent of airplane parts.

Specifically, the collaboration was widely revealed during the Hyperledger Global Forum 2020 in Arizona. Lisa Butters – Honeywell general manager – reportedly disclosed that the uploading process for all excess parts to the GoDirect Trade marketplace has been finalized. 

The aviation sector has been experiencing the struggle of lengthy procedures brought upon by paper certificates, related to each separate part, their original manufacturer, and existing safety standards. 

The papers also required to be transferred to different geographical places, which was one of the primary setbacks of digitizing the market for aviation parts, due to forgery issues. 

Therefore, GoDirect Trade has a goal of introducing the aviation parts sector to digital commerce – with Butter predicting that around 3% of the $14 billion markets will become online-based. 

Aviation parts normally undergo 4 re-sold times before getting decommissioned, emphasizing the advantages brought upon by distributed technology, in offering a solution for validating the authenticity of relevant documentation.

Honeywell’s GoDirect platform is made up of a customized Hyperledger Fabric’s open-source code, which has been publicly released sometime around 2018.