SkyThread has come up with an innovative blockchain SaaS solution that will capture and tracks all aircraft part events, both on and off aircraft, right from manufacturing through to decommissioning. The solution, named as SkyThread for Parts, SkyThread promises will unlock substantial efficiencies and cash flow benefits for all aviation stakeholders by providing critical visibility into the aviation supply chain.
Mark Roboff, SkyThread's co-founder and CEO, said: “SkyThread for Parts utilises the SkyThread Blockchain Data Network, which enables seamless data sharing between stakeholders in complex ecosystems with consensus-driven data governance and automated data validation. SkyThread does not replace the legacy IT systems used by airlines, MROs, and OEMs, but rather runs in cooperation with them.”
The life of the aircraft part begins when the part is first delivered on a new aircraft to its first customer. SkyThread works to capture that part as it is coming out of the Tier 1 / OEM factories on its way to either the aircraft assembly plant, an MRO facility for installation, or to an airline for its line maintenance. SkyThread aims to target international airlines, airline-owned, and independent MROs, as well as tier-1 OEMs and their component repair stations as the launch customer for the new product.