Business
Honeywell, iTRACE And SecureMarking Combat Counterfeit Activity In Aerospace With Blockchain
ATLANTA, Dec. 17, 2019 /PRNewswire/ -- Honeywell (NYSE: HON) is working with iTRACE and SecureMarking to bring transparency and increased security to the
About this update from Honeywell International Inc.
[{"type":"text","content":"ATLANTA, Dec. 17, 2019 /PRNewswire/ -- Honeywell (NYSE: HON) is working with iTRACE and SecureMarking to bring transparency and increased security to the e-commerce market of aerospace products via blockchain technology. This first-of-its-kind process in the aerospace market will greatly simplify the complex regulatory and supply-chain landscape in the industry.\n\n \nUnder the new process, the moment a part comes off the Honeywell assembly line, the identification plate receives a two-factor authentication marking. First, iTRACE's 2DMI data matrix is laser-etched onto the identification plate. Next, an invisible, high-security ink, provided by Honeywell's Performance Materials and Technologies (PMT) business and SecureMarking, a third-party authentication company, is applied.\nFinally, the iTRACE mobile app scans the 2D matrix and activates the digital authenticity record for the part. This data, along with the part's birth information, is recorded on Honeywell's digital blockchain ledger. \nBecause the two-factor authentication always follows the part from the time of installation until it is taken out of service, the results of this process are a reduction in counterfeit parts and a more dependable supply chain for manufacturers.\n\"Honeywell is committed to enhancing part provenance and authenticity in aerospace part sales, and to provide transparency by storing digital verification records onto the blockchain ledger for all to see,\" said Lisa Butters, general manager of Honeywell's GoDirect Trade online marketplace. \"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.\"\nHoneywell's blockchain is a highly secure, decentralized database that is crowd-sourced by all its authorized users. Each user that Honeywell allows has a copy of the database and knows its contents in real time. Like fans watching a football game in the stands, these users can look at the scoreboard to see the same data simultaneously. \n\"We help companies solve the problem of securely connecting their physical parts to their blockchain digital ledgers with a 2DMI mark that is laser-etched onto the identification plate, ranging in size from 0.1 mm by 0.1 mm to 5 mm by 5 mm,\" said i...