Blockchain promotes flight control and savings of US$3.5 billion on aircraft maintenance, studies show

Although still considered by many to be synonymous with cryptocurrencies, due to being the disruptive technology responsible for the execution of smart contracts, blockchain is advancing in the world and its use cases are increasing. In May this year, for example, nine bags of organic coffee produced inside São Paulo were exported to Japan and all product traceability was done using blockchain.

If the grain from the farm of agronomist Anderson Mitsuhiro Minamihara traveled through the air to the other side of the world, where his ancestors originated, it is possible that the blockchain was also present in certain operations of the airline company. Indeed, aviation is one of the sectors that register several use cases of the technology and others that could be adopted in the years to come, according to some studies on the subject.

GE Aviation, a branch of General Electric (GE), which is one of the largest aircraft engine suppliers in the world, for example, is already using blockchain in its supply chain tracking system to monitor and collect manufacturing and lifecycle data for key engine parts, which helped the company free up $10 million in unpaid cash from its revenue reconciliation, according to a Brookfield Aviation publication.

PricewaterhouseCoopers (PwC) has estimated that the technology can help reduce annual aircraft maintenance costs by around $3.5 billion, through the use of blockchain in data analysis, predictive maintenance and with some manufacturers and service companies.

“Today, much of the information essential to keeping an aircraft airborne is collected manually, a time-consuming and expensive process. Data showing an aircraft’s history and condition is spread across no less than 40 systems, in the hands of multiple parties who may be reluctant competitors to share data.

Mercenary dealers take advantage of airlines and MROs [Manutenção, Reparo e Operações] because there is no central clearinghouse for aircraft components. Maintenance is reactive and it is difficult to know which aircraft are affected when regulators or manufacturers require a part to be replaced,” the company explained in an article.

The International Air Transport Association (IATA) has also listed a list of use cases that could be introduced to aviation over the next 13 years via the “Future of the Airline Industry 2035” report, some of which are already in the testing phase, according to the document. .

One of the ideas is the tokenization of the accounting and redemption of mileage points accumulated with passengers, which, according to the study, can streamline the control carried out by companies. Another possibility is the use of blockchain to track cargo, passenger baggage and aircraft spare parts.

The survey also pointed to blockchain’s effectiveness in managing passenger and crew identities, which could improve the experience, help protect privacy, and drive business expansion through the digital world. Another front would be the reduction of efforts in contracts celebrated by various players that make up the aviation ecosystem, which would be replaced by the execution of single smart contracts.

Also on the list of current proposals is the use of a cryptocurrency in the supranational aviation ecosystem, IATA, in addition to a Digital Certification Authority (DCA) protocol, which is a certification platform. identification, management in the commercial aviation distribution space, such as agents, companies, aggregators and passengers, which is expected to emerge in the coming years integrating blockchain, artificial intelligence (AI) and biometrics.

Santander Bank is also testing new blockchain use cases, which has begun testing a used car and real estate transfer tokenization system, as reported by Cointelegraph Brasil.

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