Honeywell, a Fortune 100 tech company that specializes in industry-specific solutions, plans to combat counterfeit acts in aerospace using blockchain technology.

As <a href="https://flipboard.com/@seekingalpha/honeywell-combats-counterfeits-with-blockchain/a-Fxwyt2XsS0m67zL9Z3BiYw%3Aa%3A138960686-76e50849ce%2Fseekingalpha.com">reported</a> today, Honeywell reached a partnership with two other companies; iTRACE, and SecureMarking. The consortium aims at providing increased security and transparency to e-commerce markets for aerospace products via blockchain, supplied by Honeywell.

The anti-counterfeit blockchain is the first-of-its-kind in the aerospace market. It supposedly would simplify the supply-chain landscape and the complex regulatory systems in the industry.

According to a statement by the general manager of Honeywell's GoDirect Trade online marketplace, Lisa Butters: 

 "Our mission is to build the first aerospace marketplace that customers can confidently buy quality parts from. Our work with Honeywell PMT, SecureMarking, and iTRACE is bringing new levels of security to the aviation industry."
<h2>Honeywell's Blockchain Ledger</h2>
The companies plan to inscribe a two-factor authentication marking to any aerospace part from the Honeywell assembly line onto their identification plate. Also, a 2DMI data matrix from iTRACE is laser-etched to the identification plate, including an invisible, high-security ink.

A mobile app from iTRACE is used to scan the 2D matrix to validate and activates its digital authenticity record. In turn, the data provided records on Honeywell's digital blockchain ledger. 

Notably, the two-factor authentication makes it easier to track down counterfeit parts; while also providing a system that manufacturers can depend on.

"Together with Honeywell, we can now cost-effectively secure, track, trace and authenticate any part, anywhere in the world, creating the provenance for that part throughout its life cycle." The founder and CEO of iTRACE, Mark Manning, added.

Honeywell's anti-counterfeit <a href="https://www.cryptoknowmics.com/crypto/blockchain-platform-lightcurve-lays-off-40-of-workforce/">blockchain</a> makes a significant impact on aerospace. Especially where the change of parts' ownership occurs four times throughout their life cycle. Now, technicians can easily verify the authenticity of parts by scanning and shining a light on the identification plate.

Honeywell Enters Partnership to Combat Counterfeit on Aerospace Using Blockchain

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Honeywell Enters Partnership to Combat Counterfeit on Aerospace Using Blockchain

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