Aerospace giant Honeywell says Boeing posted $1 billion worth of airplane parts on GoDirect Trade, a marketplace powered by the Hyperleder Fabric blockchain
Currently, less than 3% of the $4 billion in second-hand aerospace parts sold per year is done online, according to Butters, who thinks that is about to change. In its first year of business GoDirect Trade had $7 million in sales, she says. By the end of 2020, Butters expects the platform will have conducted $25 million in sales, $100 million by 2021, and $1 billion by 2022. “We just celebrated our first birthday,” she says.
In its first full year of business, more traditional customers have included airlines that need spare parts to reinstall back into their airlines. On average, Butters says airline parts are reused four times before they are decommissioned, making the validity of their quality documents especially important.
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