General Electric suggests using …

General Electric proposes to use cryptocurrencies for settlements in the aviation industry

A new patent application from the American diversified corporation General Electric may indicate that the company intends to use blockchain in the field of aviation monitoring and maintenance.

The US Patent and Trademark Office has published five GE applications that describe “dynamic optimization” systems that encompass many aspects of aviation management and operations, including maintenance work.

One of the components of the system, which includes a mechanism for working with organizations exercising control in this area, is of particular interest. GE notes that usually the services of such companies are paid through traditional financial channels, but they can also be paid using cryptocurrencies, or at least using blockchain..

General Electric suggests using ...

“The distribution of cash flows among participants is carried out by crediting and debiting funds from financial accounts, but it can also be carried out through the mechanisms of cryptocurrencies, the basic logic of which is based precisely on the distribution of cash flows,” write the authors of the application.

Note that this is not the first attempt to introduce blockchain into the aircraft service industry. So, in early October, Air France announced that it could include blockchain in the supply chain system in the aircraft industry..

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