Today TE-FOOD said it has partnered with GE Aviation for blockchain solutions. TE-FOOD is a track and trace company that, to date, has focused on the food sector. It has blockchain food traceability deals with some big names, including French retailer Auchan, Swiss retailer Migros, Vinamilk and others. GE Aviation confirmed the alliance on LinkedIn.
Last year GE Aviation’s Digital Group revealed it was starting to use blockchain to track the ancestry of parts used in aircraft engines as part of its TRUEngine offering. In terms of scale, GE has 64,000 engines installed in commercial and military aircraft. PwC estimates blockchain could cut maintenance and repair costs globally by around 5% or $3.5 billion. Those savings will be sorely needed as the sector struggles to recover from the impact of COVID-19.
Historically the lineage of a part was tracked using paper and more recently, it involved tracing the history through multiple ERP systems. At the time, GE Aviation’s David Havera, said: “Blockchain drives up to 50 percent higher residual value for used spares material, a faster resale process, easy portability and improved productivity for asset transfers.”
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