Key industry partners have launched the MRO Blockchain Alliance, the air transport\u2019s first industry-wide investigation into the use of Blockchain to track, trace and record aircraft parts.<\/p>\n\n\n\n
The new alliance comprises leading organisations covering every aspect of the Maintenance, Repair and Overhaul (MRO) chain, from part manufacture and repairs to logistics and smart contracts. Members currently include Bollor\u00e9 Logistics, Cathay Pacific, FLYdocs, HAECO Group, Ramco Systems, SITA, and Willis Lease Finance Corporation, supported by Clyde & Co. The alliance was first mooted last year at a HAECO Group event with the aim of bringing the various stakeholders together to set a global standard around the use of Blockchain to trace parts.<\/p>\n\n\n\n
In the coming\nmonths, the alliance will launch a proof of concept to demonstrate the use of Blockchain\nto digitally track and record the movements and maintenance history of parts\nacross a wide number of players. These include airlines, lessors, original\nequipment manufacturers (OEMs), such as engine producers, logistics suppliers,\nand maintenance providers.<\/p>\n\n\n\n
This tracking\ninformation will be vital to managing a complex logistics value chain that can\nspan several stakeholders over the lifetime of each individual part. <\/p>\n\n\n\n
Currently, there is no global database, incomplete data sharing\nand only partial digitalisation. The alliance believes that the use of Blockchain\nwill simplify and speed up parts tracking while enabling the secure sharing of\ninformation between industry stakeholders. <\/p>\n\n\n\n
PwC estimates\nthat the use of Blockchain could increase aerospace industry revenue by as much\nas 4%, or US$40 billion, while cutting MRO costs globally by around 5% or\nUS$3.5 billion. Savings will be derived from secure document storage, ensuring\nconfidentiality and data privacy, improved insights on repair time and\ninventory, automated workflows and more efficient record reconciliation.<\/p>\n\n\n\n
The alliance\nwill use Blockchain to record and track two separate strands of information for\neach aircraft part: a digital thread and a digital passport. The digital thread\nprovides the real-time status, chain of custody and back-to-birth track and\ntrace of the part over time. The digital passport \u2013 like a human passport \u2013\nprovides the indisputable identity of a part and contains other vital data such\nas certification of airworthiness to prove ownership.<\/p>\n\n\n\n
SITA\u2019s role, as\nthe air transport community\u2019s IT provider, is to manage governance for the\nglobal alliance, support the working groups, deliver all required Blockchain\ntechnology components compliant with SPEC2000 and SPEC42 standards and ensure\nproper alignment and validation with regulators and international standardisation\nbodies.<\/p>\n\n\n\n
Matthys Serfontein, President of Air Travel Solutions for SITA said: \u201cThis initiative is part of SITA\u2019s ongoing exploration of Blockchain, a technology that we believe promises tremendous opportunity for streamlining the sharing and recording of information across the air transport industry. In an industry as interconnected as ours, the ability to share and record common data in a secure way without giving up control of that data is fundamental to driving new efficiencies in air travel. This is particularly true for the MRO sector.\u201d<\/p>\n\n\n\n
Each year, the MRO industry processes 25 billion parts, while adding three billion new parts. There are 20,000 suppliers, covering 144,000 flights every day for an overall industry market representing around US$100 billion every year.<\/p>\n\n\n\n
The alliance will spend the next few months in the planning phase, with the aim of going live with the first proof of concept in the second quarter of 2020. The MRO Blockchain Alliance is a key element of SITA\u2019s Global Blockchain Alliance, a wider SITA-led forum that is focused on the development of key Blockchain-based applications for potential use in the air transport industry, including MRO, passenger identity and flight data.<\/p>\n","protected":false},"excerpt":{"rendered":"
Key industry partners have launched the MRO Blockchain Alliance, the air transport\u2019s first industry-wide investigation into the use of Blockchain to track, trace and record aircraft parts. The new alliance comprises leading organisations covering every aspect of the Maintenance, Repair and Overhaul (MRO) chain, from part manufacture and repairs to logistics and smart contracts. Members […]<\/p>\n","protected":false},"author":25,"featured_media":32128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1047,399],"tags":[676,12675,12676,12681,12677,12678,12682,12674,2896,12679,1387,12680],"class_list":["post-32127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation","category-more-news","tag-blockchain","tag-bollore-logistics","tag-cathay-pacific","tag-clyde-co","tag-flydocs","tag-haeco-group","tag-matthys-serfontein","tag-mro-blockchain-alliance","tag-pwc","tag-ramco-systems","tag-sita","tag-willis-lease-finance-corporation"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/32127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/comments?post=32127"}],"version-history":[{"count":1,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/32127\/revisions"}],"predecessor-version":[{"id":32129,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/32127\/revisions\/32129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media\/32128"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media?parent=32127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/categories?post=32127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/tags?post=32127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}