Data is essential to commercial aircraft safety, operation, and asset value. Maintenance event data along with the associated records of commercial aircraft and their parts are essential to maintaining aviation’s stellar safety record.
Completeness and integrity of data is necessary for parts and aircraft to operate safely and to carry any value. Rarely does one stakeholder have all the data needed over the life of an aircraft and its parts. Furthermore, critical airworthiness documents are still often stored on paper, and that presents risks. Airlines and operators commonly deal with illegible data and lost records associated with printed paperwork.
We recognize that trust is the barrier preventing efficient data sharing across the aviation industry, which we know is necessary to realize the value in Digital Transformation. Historically, enterprises have resisted efficient data sharing due to fear of data misuse.
SkyThread solves for trust by mitigating conflicts of interest through data governance implemented in Blockchain. Trust is digitalized by SkyThread without any intermediation and data stay where they are.
We are building a data exchange platform using blockchain to deliver trust in “Data for the Life of the Aircraft”, empowering commercial aviation stakeholders to unleash significant value by rapidly accelerating error-free data exchange among participants.
SkyThread addresses for the lack of visibility into airplane configuration and parts status information required to efficiently conduct aircraft and parts transactions and to validate data in support of air-worthiness documentation with the operators.
We do this by enabling a global federated, trusted, and defensible ecosystem-level recording of aircraft, their parts, and the transactions surrounding them back to original manufacture. By facilitating a Blockchain platform, SkyThread is uniquely able to dismantle longstanding trust barriers between the industry actors that have for decades inhibited friction-free transactions. By building a system of record for the industry, a shared source of truth between aviation stakeholders, the cost of digitization is reduced, barriers are broken, and value is realized.
Industry engagement has been ongoing for over a year. SkyThread is proud to have ten client sponsors—leaders in the industry in their respective fields—touching over half of the global flying fleet.
SkyThread is established as a collaboration agent rather than as a pure technology play, and we are working closely with all existing major maintenance information systems. The existing technical services markets are working with us to enable the digital transformation of their clients.
SkyThread is proud to be a Strategic Partner of IATA, enabling data exchanges to improve maintenance, safety, and flight operations of the commercial aircraft and its entire ecosystem of stakeholders as well as engaging with IATA on various matters related to the advancement of digital document and data transmission within a global blockchain ecosystem.
