Honeywell works on the implementation of blockchain

In the midst of the great global economic crisis, some companies are already seeing a "paradigm shift" with good eyes, and blockchain technology is becoming increasingly attractive.

Honeywell works on the implementation of blockchain

Paradigm shift

Honeywell International Inc is embracing blockchain as part of a "mindset shift." The company is publicly traded with a market capitalization of $ 80 billion. The CEO of Honeywell's GoDirect trading platform, Lisa Butters, noted that the company is in full development and adoption of blockchain technology: "About fourteen months ago, we didn't know about blockchain. So, I found out that we have a small group in India, about six developers working on incubating new technology. This is how it started. All development was done in-house and we have been deeply involved with the Hyperledger community ever since."

One of the areas where the implementation of blockchain technology has great potential is in the area of ​​carbon emissions. Honeywell is required to report to the authorities the amount of carbon emissions from all of its facilities. The problem is that those calculations have to be done manually and Butters explains: "There is an opportunity here. But it doesn't have to be just for corporations, it could be for your home, some basic calculations, whether it's electric or diesel or gas. That's something we are investigating. " The company recently announced a blockchain-based aircraft parts marketplace whereby, "anyone with a Gmail account can register and purchase aircraft parts," according to Butters.

For Butters, there are two keys to a successful blockchain implementation: starting with a case of one clearly defined and a paradigm shift in the way of thinking about data.