Business idea for free:
Problem: In aviation, authorities defined a complex process how to follow spare parts. Officially a manufacturer is asked to issue a document for each spare part, only sell these to companies listed as allowed on what is called a CAP (capability) list, and check serial numbers of destination planes for these spare parts. But as these parts a very expensive, parts are also gained from end of life planes, refurbished, and brought into use again. The underlying process – defined as being secure – leads to enormous amounts of paper and process costs. But in fact, fake parts have been found in normal machines as well as Airforce One or strategic bombers.
I would argue that lots of this process is simply unrealistic. A manufacturer needs to accept that companies like Lufthansa Technik store parts in depots to have them in fast access when needed. It would simply take too long to order when parts are broken. But therefor LH Tech cannot provide the final destination airplane when ordering the part.
Idea: We have a situation where various players such as vendors, airplane manufacturers, various authorities, maybe even you as a passenger have an interest to understand where parts came from, what history they have, and nobody really should need to trust another. It feels like blockchain could solve this.
My idea would be to build a separate blockchain. Each stakeholder gets a vault as well as storage facilities, airplanes, licensed technicians etc. A manufacturer would then generate a new part by making a transaction including its serial number, the issuer (the manufacturer) and the receiver (the airplane or the storage facility). When the part would be taken out of store, another transaction takes place including the technicians, the issuer and the receiver aircraft. Things like taking out a whole kitchen and splitting it into spare parts could be recorded. And so on…
In fact, by using the machine’s vault, you could generate a complete history of its parts. By using a part, you could generate a complete life time history. For the whole industry, changing to this system would help to reduce process costs and increase traceability.
I did some initial due diligence and it seems to hold water.
Who is with me??