Is Blockchain is the Next Step in Making Aviation Safer and Aviation business more profitable?
The Blockchain is no longer just bitcoin. There are thousands of applications for blockchain technology, from logistics supply chains at FedEx to cross-border payments at IBM. The immutable distributed ledger technology is gaining a cross-industry reputation as being a unique and new provider for source-tracing technology and payment settlement.
French-based Genesis Supply Chain Platform (GSCP) has identified an industry where few blockchain solutions exist; the trillion-dollar aviation industry.
With his aviation supply chain experience, GSCP CEO Maxime Legros has formed a new project – Genesis Supply Chain Aviation (GSC Aviation). His vision will bring blockchain based solutions to the aviation industry to increase safety, efficiency and bring down costs. “I have thought of GSCP, from the very beginning, as a way to create a virtuous circle in the relationship between suppliers and buyers by improving trust and efficiency in processes”
In a world where buyers across industries have been searching for ways to enhance efficiency for tasks such as information listing or handling and shipping, few alternatives exist. The blockchain’s public ledger offers an immutable alternative that can record every event in the supply chain from beginning to end. This includes all the necessary information to ensure full transparency and accuracy of information: origin, place of storage, authenticity, property certificates, records. Thus information that is crucial to flight safety can be readily available at all points in the supply chain on one immutable ledger.
Aircraft accidents due to equipment failure are as high as 22%. Accidents due to human error, a pilot fault or an anomaly in the maintenance represent 57%. One way to minimize accidents is to ensure mechanics have parts that fully meet the requirements of the aeronautical regulatory bodies. GSC Aviation will streamline this process by offering an end-to-end solution to manage the entire process of the supply chain. This solution encompasses automated smart contracts for purchase orders, insurance shipments, and RFID tracking technology linked with the blockchain.
The purchasing expenses of every company in all industry areas represent 40% to 80% of the company turnover. So it is easy to see the benefits for companies of using a purpose-built platform leveraging blockchain technology to make its supply chain more secure, efficient and able to realize economies of scale. Trust between supply chain participants will continue to become one of the most frequently requested features within the wholesale buying and supplier community.
GSC Platforms long-term goal is to develop its logistics and supply chain technology and services for all major industries such as automotive, rail, energy and pharmaceutical.
GSC Aviation will issue a fixed amount of 999 million ERC20 tokens GSCP, 60% will be made available for sale during the ICO. Tokens will be used to access traceability data, cross-platform integration, and complete buyer/supplier transactions.
Presale issuance price is 0.02 Euro.
To find out more information on GSC’s solutions, plans, and ICO visit gscplatform.io
To contact GSC for more information email email@example.com
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