Their technology creates a secure, permanent connection between physical assets and the Blockchain. ITRACE – Offers a technology (iTRACE 2DMI™) that is best described as an “un-hackable” QR code. In order to provide consumers on our marketplace as much information about a used aerospace part as possible, we needed a technology that would allow us to start collecting this data across many individuals, repair shops, dismantlers and large enterprises. GoDirect Trade (powered by Honeywell) – Honeywell had invested heavily in our own Blockchain network which was designed to store / collect part pedigree data and robust enough to easily connect with other Blockchains. Strrrrike! A few months after that panel, someone from our own internal Honeywell anti-counterfeit team reached out to see if we were actively looking at Blockchain applications related to anti-counterfeit. By itself, Blockchain would be like swinging at a baseball with a toothpick. It’s simply a highly secure way for everyone to know the score by leveraging a decentralized database that is crowd sourced. But the kicker is that Blockchain by itself does nothing to fight off the bad guys. The intriguing aspect of these start-ups? Blockchain is commonly associated with a technology to combat anti-counterfeit activities. In essence, they provide technologies that help combat anti-counterfeit activities.
Over the summer I had spoken on a panel with Mark Manning from ITRACE and Daniel Stanton from SecureMarking – both CEO and founders of technology start-ups that specialize in creating a permanent connection between a physical asset and its digital DNA. For the past year, I had been working with our Honeywell Advanced Technology team (that’s a fancy word for “engineers” that incubate our newest technologies) on marching forward with some of the most innovative Blockchain applications in the aerospace industry. Sometimes it happens instantly, sometimes it happens over time, but connecting the dots has led to some of the most revolutionary inventions of our lifetime.Įight weeks ago, I had that unique moment of enlightenment. In essence, the ability to connect what you know with something that, on the surface, doesn’t necessarily look at all related. One of the most important ingredients to successful innovation is the ability to connect the dots. Anti-counterfeit technology isn’t just for hundred dollar bills.
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