The multinational company Honeywell is rolling out its new aircraft trading sector which will use blockchain technology. The trading site ‘GoDirect ‘ will serve as a e-commerce platform for buying and selling aircraft parts. Thus the introduction of decentralized tech provides transparent business for both the parties.

The challenging task when buying avionic equipment lies in the fact that buyers  don’t get required inventory all the time and may have to call numerous companies. In fact, customers end up buying from a company that does not have the inventory immediately in stock.

The trading site by Honeywell comes to the rescue by providing various aviation services and applications. On that note, the director of material and part sales, StandardAero Total Aircraft Spares – Thomas Noonan mentioned that,

GoDirect Trade represents an evolution in our market, and being backed by a major equipment manufacturer brings the confidence we need to be one of the early adopters

Also, highlighting the importance blockchain technology, he said 

This technology will help propel the aviation industry forward into the realm of other e-commerce sites that many of us use each day without a second thought

With the GoDirect trading platform, Honeywell will deploy blockchain technology to ensure every listing includes images and quality documents for the exact part being offered for sale.

Essentially, the company is working on to provide transparency between buyer and seller which will give more confidence about purchasing the part. In addition, every part on GoDirect Trade is immediately available for sale and shipping. The need to wait days, or even weeks, for the seller to confirm availability disappears.

It is noteworthy, to mention that GoDirect  will become the first of its kind to enable customized seller storefronts, and they are the first to leverage blockchain technology to build trust between the buyer and seller

Certainly, the blockchain is penetrating every corner of the business. What do you think about it? Let us know in the comment section below.

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