Insureblocks Blockchain & Smart Contracts In Insurance

Lisa Butters, is the General Manager at GoDirect Trade, a marketplace for used aerospace parts, part of Honeywell . Used aerospace parts is a $5 billion a year industry of which almost none of it is done online. Numerous emails and phone calls along with paper work is used to close a transaction. Blockchain was felt to be an applicable technology to manufacture digital trust between buyers and sellers in the used aerospace parts industry.   What is blockchain? Honeywell uses blockchain technology in an enterprise manner. Lisa defines blockchain as a highly secure way to crowdsource a decentralised database. Traditional enterprises will have a centralised databased with a walled garden approach to data collection. With blockchain technology you’re using the technology so that you can get the data from various enterprises and parties in a secure manner.   Who is Honeywell? Honeywell is a $40 billion company that operates in numerous industries. Lisa’s particular area is focused within aerospace. Within the a