Removing the unnecessary paper-trail

The efficiency gains enabled by technologies like smart contracts come from reduced paperwork and better partner integration. More specifically, enterprise blockchain ensures more transparency or end-to-end visibility. This again helps companies mitigate risk or manage disruptions, e.g. knowing beforehand if something's not going to be on time. More transparency also reduces friction between intermediaries, so that they can agree on how to comply, how to bill, and how to settle issues.

“With digital consensus, I can get real-time information about transactions - even those I’m not directly part of,” Fabre said. “A smart contract is a little animal that lives on the blockchain. It has all the data related to a given process you’re following.”

For example, in the complex life cycle of parts repair, no single actor in the supply chain knows the actual time of arrival. If a disruption happens, very often, no one can provide information about its consequences. However, by consolidating data from all actors, e.g. the repair shop and the logistics company, a smart contract contains an accurate estimate of arrival time that everyone involved in the process can look up at any given time.

Another example is the transfer of ownership of leased aircraft. Aurore Duhamel of SITA explained that often, the parties involved would hire “an army of consultants” to check that everything is in order when the transfer takes place. This process would be significantly simplified if all this information were already available in an up-to-date smart contract.

The smart contract can also contain information such as the accurate configuration of an aircraft, parts history, like previous ownership, the maintenance being performed, the location of parts; are they on the shelf or installed and operating?

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Facing costly data uncertainties, the MRO industry adopts blockchain tech