For wider aircraft monitoring and maintenance system, the U.S. conglomerate eyes on blockchain technology as per new patent filings from General Electric (GE).
To manage and operate aircraft including maintenance services through a concept of dynamic optimization system, U.S. Patent and Trademark Office (USPTO) published five applications from GE which mainly focused on it. The applications indicate that one of the system’s components would be a mechanism for aircraft oversight process. Cryptocurrencies can help with payment options as these entities would be mostly paid by traditional finance channels.
The applications note that,
“The delivery of the cash flows amongst stakeholders is certainly enabled with traditional debits and credits into financial accounts and may be implemented with cryptocurrency mechanisms whose core logic is informed by precise allocation of cashflows.”
Based on developments from notable airline carriers, the process of investigation on this area was expected from GE. Air France reported that they were interested in blockchain as it maintains a shared database of update information which makes it helpful to track flow of maintenance of its airplanes.