Honeywell uses blockchain technology in trading business

Honeywell (NYSE: HON) has announced it is modernizing the buying and selling of aviation parts with GoDirect Trade, the company said.

The new e-commerce platform will improve access to new and used aircraft parts for airlines, air transport and business aviation customers by offering transparent pricing and the option to buy inventory directly from its website.

Previously, buyers looking for aviation parts such as avionics, auxiliary power units and more would have to call numerous companies, wait days or even weeks to price a part, and risk buying from a company that did not have the inventory immediately in stock. On GoDirect Trade, Honeywell is using blockchain technology to ensure every listing includes images and quality documents for the exact part being offered for sale, giving the buyer confidence about purchasing the part. In addition, every part on GoDirect Trade is immediately available for sale and shipping.

GoDirect Trade is part of Honeywell´s GoDirect family, a portfolio of more than 50 value-adding aviation services and applications that provide operators, flight crews and maintenance teams with critical information to control services and network.

Honeywell is a technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally.