►
Description
A virtual meetup hosted by the Hyperledger Toronto group featuring Lisa Butters from Honey speaking about how they are using Hyperledger to create a marketplace for used aerospace parts. More information about the event is at:
https://www.meetup.com/Hyperledger-Toronto/events/270673114/
----
Hyperledger – Open Source Blockchain Technologies
Hyperledger is an open source community focused on developing a suite of stable frameworks, tools and libraries for enterprise-grade blockchain deployments.
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#Hyperledger #HyperledgerMeetups #Blockchain
A
So
again,
thank
you
for
having
me,
I
feel
honored
to
be
here.
I
know
it's
even
dinner
time
for
most
of
you
and
probably
for
a
lot
of
you.
You
guys
have
co-workers
that
are
probably
10
years
and
under
just
kind
of
like
my
house,
so
it's
a
big
time
of
the
night
for
lots
of
you.
So
I
thank
you
for
you
know,
being
here
and
listening
to
honeywell's
story,
we're
always
looking
forward
to
meeting
new
people,
expanding
our
ecosystem,
gaining
adoption
and
really
learning
from
all
of
you
as
well.
A
A
You
know
figuring
out
how
we
really
integrate
blockchain
technology
and
what
we
do
every
day
is
really
going
to
be
key
to
making
sure
that
the
adoption
rates
go
up
at
the
enterprise
level
and
so
feel
free
to
ask
questions,
but
I
just
want
to
kind
of
take
you
through.
You
know
how
we
use
it
every
day,
so
why
is
blockchain
technology
so
valuable?
I
think
it's
it's
funny,
because
if
you
ask
a
person
what
blockchain
is
to
them,
everyone
will
give
you
a
different
answer
and
I
think
it's
so.
A
I
always
like
you
know
coming
out
with
what
my
definition
of
blockchain
is,
and
I
always
explain
it
as
it's
just
a
digital
ledger:
it's
just
a
digital
ledger
that
can
be
crowdsourced
in
a
highly
secure
way,
and
then
why
is
that
so
valuable?
Well,
when
it
comes
to
enterprises,
whether
you're,
a
mom
and
pop
all
the
way
up
to
a
multi-billion
dollar
company
like
a
honeywell,
we
don't
have
this
shared
data
pool
approach
to
anything
really,
in
fact,
if
you
look
at
all
fortune,
you
know
100
companies.
A
I
would
say
that
a
lot
of
them
have
strategies
where
monetizing
your
data
is
like
the
big
strategy
going
forward,
and
so
this
concept
of
sharing
data
and
not
having
this
walled
garden
approach.
You
know
it's
something
that
we
are
really
scared
of.
We
like
to
protect
our
data,
because
we
feel
like
one
it's
important,
it's
valuable.
We
can
make
money
off
of
it,
and
so
blockchain
technology
is
really
a
paradigm
shift.
It's
a
way
in
which
we
can
crowdsource.
A
You
know
valuable
data
sets.
So
I
put
two
examples
here.
One
is
part
pedigree
data
so
honeywell,
I
don't
know
how
familiar
you
are
with
honeywell,
but
I
work
in
the
aerospace,
industry
and
serialized
parts,
and
you
can,
you
know,
think
about
automotive
parts.
Serialized
parts
is
a
big
big
industry
where
we're
trying
to
figure
out
how
to
really
track
and
trace
these
sterilized
parts.
I
would
say
that
automotive
versus
aerospace
is
different
slightly
in
that
aerospace.
These
serialized
parts
are
worth
a
lot
a
lot
of
money.
A
I
mean
the
average
order
that
goes
through
go
direct
trade,
which
is
a
marketplace
that
I
run.
It's
used
aerospace
parts,
our
average
order
is
about
ten
thousand
dollars
and
we
sell
multi-million
dollar
parts
that
are
used
on
our
on
our
marketplace.
So,
if
you
think
about
you
know
how
important
it
is
to
really
keep
track
of
where
these
parts
have
been
like
previous
owners,
things
like
that
and
I'll
go
more
into
kind
of
what
we've
done
with
it.
It's
a
big
deal,
carbon
emission
usage
as
well.
A
A
But,
of
course
you
know
these
are
some
of
the
facets
that
are
obviously
very
attractive
and
why
it's
it's
a
technology
that
people
are
really
starting
to
look
at
and
take
seriously.
I
always
like
showing
this
slide.
It
was
taken
off
of
a
ted
talk,
and
so
it's
not
our
slide,
but
it's
it's
interesting,
because
I
really
believe
that
blockchain
technology
is
similar
to
what
the
internet
was.
You
know
40
years
ago,
40
years
ago,
just
a
few
dozen
computers
connected
together
with
the
internet,
and
I
think
blockchain
is
the
same.
A
So
I
think
a
lot
of
people
believe
that
blockchain
technology,
they
think
so
much
about
cryptocurrency,
and
you
know
that
mode
of
using
blockchain,
but
when
it
comes
to
blockchain
technology
being
used
at
like
a
company
level
and
enterprise
level
like
at
a
honeywell,
especially
within
aerospace,
we
are
like
at
the
ground
floor.
We
it's
considered
to
me
an
infantile
technology.
A
It
might
be
a
little
bit
more
mature
in
the
financial
services
sector,
maybe
even
like
the
food
industry.
You
can
make
that
argument,
but
in
reality
I
think
it's
widely
misunderstood
a
lot
of
people
really
don't
you
know
understand
how
it
brings
value
and
they
may
oversimplify
it
or
they
may
undersimplify
it.
So
I
think
there's
there's
a
lot
of
things
going,
but
I
do
think
that
it
could
become
a
technology
that
is
truly
a
game
changer.
It
just
happens
to
be
that
at
this
point
in
time.
A
B
A
Guys
can
all
go
there
today,
www.godructree.com
and
it
is
a
marketplace:
it's
a
marketplace
where
we
sell
used
and
new
aerospace
parts.
So
why
did
honeywell
get
in
the
business
of
having
a
marketplace?
Well?
What's
really
interesting
about
this
particular
industry
is
the
used
parts
market
for
aerospace
is
about
four
billion
dollars
a
year
and
almost
none
of
it
is
done
online,
so
believe
it
or
not.
A
This
is
one
of
the
few
industries
left
where
most
everything
is
done
via
email
and
phone
call,
which
is
insane
if
you
think
about
how
much
money
runs
through
this
industry,
to
do
everything
manually
through
coding
process
through
faxes
and
emails,
and
things
like
that.
But
that's
that's
really
where
we
are
today
with
use
aerospace
parts
so
honeywell
we
wanted
to
solve
that
really
big
customer
problem.
No
one
is
transacting
online
for
use
aerospace
parts
and
we
wanted
to
build
a
marketplace.
So
our
marketplace
is
effectively
a
combination
between
etsy.
A
If
you're
familiar
with
etsy
and
amazon,
we
say
it's
like
an
amazon
and
that
it's
a
really
easy
to
use
customer
experience
and
we
say
it's
like
an
etsy
because
you
can
build
your
own
customized
storefront
it
takes
about.
You
know
three
easy
steps
and
it's
less
than
five
minutes
to
build
your
own
storefront,
which
is
significant
within
aerospace,
because
you
could
have
mom
and
pop
shops
all
the
way
up
to
multi-billion
dollar
enterprises.
A
So
honeywell
has
a
storefront
inside
go
direct
trade
boeing
has
a
storefront
inside,
go
direct
trade
and
it
literally
takes
five
minutes
to
set
up
a
storefront.
So
for
many
of
these
companies
inside
of
aerospace,
they
have
absolutely
zero
e-commerce
experience
and
go
to
trade,
really
transforms
that
changes
all
of
that
and
allows
anybody
to
really
start
to
partake
in
e-commerce.
A
So
you
know
when
you
talk
about
blockchain
technology
go
to
trade
is
a
marketplace
that
really
is
foundationally
built
off
of
blockchain
technology
and
what
we
do
is
we
try
to
collect
as
much
information
as
we
can
about
a
serialized
part,
so
that
we
can
bring
it
to
the
consumer
for
free,
because,
if
you
think
about
when
airlines-
or
you
know,
whoever
it
is,
that's
buying
these
used
parts,
the
more
transparency
you
can
give
to
them
about
the
part.
The
better
and
remember
this
industry,
nothing
is
done
online.
A
So
this
is
very
transformative
in
this
particular
industry.
We
show
price
product
images,
quality
documents
and
now
we're
trying
to
show
pedigree
data
very
similar
to
carfax.
If
you've
ever
used,
carfax
to
you
know
purchase
a
used
automobile.
You
want
to
know
for
that
car
previous
owners.
Has
it
been
in
an
accident?
A
Maybe
it
was
purchased
in
a
cold
weather
state
and
you
don't
want
to
buy
something.
You
know
that
was
always
in
the
snow.
We
do
the
same
exact
thing
with
blockchain
technology,
but
for
aerospace
parts.
So
we
are
trying
to
build
up
a
part
pedigree.
So
to
speak,
that's
tied
to
these
parts
and
we
try
to
build
out
this
ecosystem.
So,
as
you
know,
from
a
seller
perspective,
the
listing
event,
if
the
seller
has
repair
information
as
to
where
that
part
was
repaired
out
of
we
will
try
to
collect
that
dismantlers.
A
If
you
wonder
where
all
the
parts
come
from
in
aerospace,
they're
either
secondhand
like
they
come
off
of
aircraft
or
aircraft,
they
are
retired.
We
have
you
know
a
ton
of
aircraft
retirements
happening
right
now,
because
of
kovad19
those
aircraft
are
disassembled
and
those
parts
flood
back
into
the
aftermarket
anything
sold
on
go
to
trade.
We
capture
that
as
a
bill
of
sale
event,
but
our
our
real
you
know
goal
here
with
blockchain
technology
and
a
honeywell
perspective
is
to
continue
to
build
out
the
ecosystem.
A
So
again,
if
honeywell
is
the
only
person
that's
putting
data
into
this
ecosystem
or
this
blockchain,
then
that
doesn't
really
help
us,
because
on
go
to
trade,
we
have
a
ton
of
parts
they're,
not
just
honeywell
parts,
and
on
top
of
that
even
honeywell
parts
at
honeywell.
You
know
manufacturers
and
cells,
we're
not
always
the
ones
that
repair
all
the
parts,
we're
not
always
the
ones
that
sell
all
the
parts,
and
so
we
want
that
information
to
build
up
that
pedigree.
A
It's
touched
by
multiple
parties
which
again
it
goes
back
to
why
blockchain
technology
is
so
important
because
it's
not
just
honeywell.
That's
trying
to
populate
the
data
you're
looking
for
other
people
to
populate
the
data,
blockchain
technology
allows
us
to
get
that
data
in
a
highly
secure
way
from
the
other
parties.
A
So
in
this
case
you
know
you
look
at
this
part
and
what
the
what
we
want
to
do
is
manifest
the
blockchain
activity
to
the
consumer
so
that
the
consumer
say
they're
looking
at
this
valve
and
there's
another
seller,
that's
selling
the
same
exact
part
number.
You
know
if
your
part
has
more
information,
you
know
a
better
on-chain
kind
of
part
pedigree.
The
odds
of
that
part
selling
are
far
higher
and
think
about
it.
If
you
had
two
toyota
corollas
next
to
each
other,
they're
both
used
one.
A
You
know
you
have
a
good
carfax
history
on.
You
know
a
previous
owner.
You
know,
maybe
it
was
taken
to
a
certified
repair
shop
and
the
other
one.
You
just
absolutely
have
no
idea
about,
but
it's
still
a
toyota
corolla
chances
are
that
buyer.
The
consumer
is
going
to
feel
far
more
comfortable
paying
for
something
where
there
is
trace.
Where
there's
information
about
that
part-
and
that's
really
what
we're
trying
to
do
within
the
marketplace,
we're
trying
to
leverage
the
blockchain
data
and
we're
trying
to
show
it
to
the
consumer.
A
A
But
if
you're
not
really
using
the
data,
then-
and
it
doesn't
bring
any
value-
you
can't
build
services
on
top,
then
it
really
does
you
no
good?
And
so
that's
my
purpose
in
really
showing
you
our
go.
Direct
trade
marketplace
was
to
say,
hey
this
whole
concept
of
trying
to
build
a
part
pedigree
platform
for
serialized
parts
in
the
aerospace
industry
which
can
really
transpire
to
other
industries
such
as
automotive,
electronics,
all
kinds
of
things.
You
know
even
pets,
or
you
know
animals
you
think
about
that.
A
But
for
us
we,
the
marketplace,
built
like
a
service
on
top
of
the
part
pedigree
and
that
that
data
is
very
valuable
to
us
part
pedigree
is
valuable
because
it
adds
more
value
to
the
part.
It
allows
consumers
to
make
better
decisions,
and
so
I
think
that's
you
know
we
think
about
use
cases
for
blockchain
technology,
and
you
know
what
use
cases
to
pursue
or
what
applications
to
build.
A
You
really
need
to
stop
and
ask
yourself
like
what
value
is
it
bringing
you
know
what
services
could
you
actually
build
on
top
that
people
would
actually
care
about?
So
you
saw
the
marketplace
and
you
saw
how
we
use
the
blockchain
data.
What
I
also
want
to
show
you
is
honeywell's
commitment
and
what
we've
done
within
our
systems
to
really
integrate
all
of
our
daily
production
and
repair
activities
on
chain
or
onto
our
ledger.
A
So
a
little
bit
of
background
about
honeywell
honeywell,
it's
a
really
large
company,
we're
about
a
40
billion
dollar
a
year
company,
really
big.
We
play
in
multiple
industries,
including
aerospace.
Now
within
aerospace
we
happen
to
be
an
oem,
that's
an
original
equipment
manufacturer,
so
we
actually
manufacture
brand
new
parts
in
our
factories.
A
Another
one
of
our
you
know.
It's
probably
our
most
profitable
part
of
our
aerospace
sector
is
our
repair
business.
So
we
sell
new
parts,
but
we
also
have
over
50
repair
shops
across
the
world,
where
we
are
repairing
constantly
these
aerospace
parts
and
giving
them
back
to
airlines
to
operators
to
end
users
to
reinstall
back
into
their
aircraft.
I
think
one
thing
that's
important.
Just
to
note
for
aerospace
is
the
aftermarket
or
the
used
kind
of
part.
Industry
is
very
alive
and
well
within
aerospace.
A
You
know
you
really
probably
don't
get
a
ton
of
life
over
and
over
again
from
automotive
parts,
you
can
kind
of
rebuild
the
mechanical
parts,
but
in
aerospace
the
average
number
of
times
that
an
aerospace
part
changes
hands
like
owners
is
four.
So
one
question
that
really
you
know
brings
us
home
is
how
long
does
an
aerospace?
You
know
an
aircraft
engine
last
and
the
answer
is
forever.
A
Often-
and
you
don't
just
scrap
them
all
the
time
they
go
back
into
an
aircraft
and
they
come
off
the
aircraft
they
get
repaired
again
they
go
back
into
the
aircraft
and
they
come
off,
and
so
this
whole
concept
of
a
part
pedigree
there's
a
lot
of
things
that
happen.
A
lot
of
hands
that
touch
in
aerospace,
part
in
its
lifetime.
A
So
honeywell
we
have
over
a
hundred
either
oem
or
repair
factories
in
the
world
and,
what's
really
cool
is
we
have
sap?
So
sap
is
an
erp
system.
Multiple
erp
systems
out
there
honeywell
happens
to
have
the
luxury.
Where
you
know
we
made
that
decision
like
15
plus
years
ago,
where
we
said
we
want
one
erp
system
to
manage
across
all
the
sites,
and
you
know
what's
interesting
about
that.
Is
you
know
it's?
It
obviously
makes
things
a
lot
easier,
but
you
know
fast
forward.
A
15
years
we
never
realized
how
transformative
it
would
be
in
terms
of
having
a
blockchain
ledger,
because
what
we
did
is
we
took
our
sap
erp
system
and
we
fully
integrated
it
into
our
honeywell
blockchain.
So
what
does
that
mean?
That
means
that,
as
you
know,
important
events
happen
for
parts
within
our
integrated
supply
chain.
If
we
manufacture
a
part,
so
every
two
seconds
or
every
second,
we
manufacture
two
parts.
We
record
that
digital
birth
event
on
our
ledger.
It's
for
sale
to
a
customer.
A
We
record
that
on
the
ledger,
every
time
we
repair
a
unit,
we
record
it
to
the
ledger.
One
thing
that
just
went
live
literally
just
last
week,
which
is
a
really
really
big
deal,
at
least
the
honeywell
and
in
terms
of
trying
to
set
the
stage
within
aerospace
and
drive
adoption
of
blockchain
technology
is
every
time
we
repair
a
unit
or
a
you
know,
part
in
our
repair
factory.
A
There
are
these
things
called
airworthiness
tags
or
documents
that
go
along
with
the
repair
and
it's
kind
of
like
a
certificate
so
to
speak,
but
it
literally
is
like
a
piece
of
paper:
that's
a
pdf
and
if
you
like
all
repair
shops
in
the
world,
they
generate
these
types
of
documents.
So
it's
a
very
paper
intensive
industry.
What's
really
cool
is
honeywell
is
the
only
repair
shop
on
the
planet
where
all
of
these
digital
certificates
are.
You
know,
airworthiness
documents.
A
We
still
generate
the
pdf
for
the
faa,
but
we
also
take
all
those
data
form
elements
and
when
they're
created
in
our
system
in
sap,
we
take
the
data
elements
and
we
actually
extract
those
and
put
them
on
chain
and
the
reason
why
we're
doing
that
is
because
we
want
to
build
this
google-esque.
I
would
say
user
interface,
where
you
know
we
have
this
part
pedigree
platform
that
is
anything
and
everything
aerospace
parts.
A
So
if
you
really
translate
to
you
know
what
we're
trying
to
do
here,
we're
trying
to
collect
everything
there
is
to
know
about.
You
know
these
parts
images
quality
documents,
you
know
event:
data
like
birth
data,
scrap
data,
repair
data,
sale,
data,
things
like
that,
so
that,
if
somebody
puts
in
a
serialized
part
like
a
part
number
or
a
serial
number
or
an
aircraft,
serial
number,
we
can
try
to.
You
know
push
to
them.
Collectively
everything
we
know
about
these
parts
and
what's
really
cool
about
the
airworthiness
tag.
A
Information
that
we
get
is
when
we,
when
I
say
that
we
take
the
kind
of
like
the
quality
tag,
information
I'm
not
trying
to
store
the
pdf
on
chain,
I'm
not
trying
to
make
our
ledger
a
content
server.
What
we're
really
trying
to
do
is
take
the
data
form
elements
from
those
airworthiness
tags
put
them
on
chain
so
that,
if
you
go
into
this,
you
know
our
you
know
our
user
interface,
where
you're
trying
to
just
figure
out
more
about
a
part.
A
It
will
reconstruct
all
of
the
quality
documents
that
are
tied
to
that
part
that
serial
number
that
aircraft
serial
number
so
we're
trying
to
not
give
you
the
certified
copy,
but
we're
trying
to
say
hey
if
you're
searching
for
a
serialized
part,
we
can
say:
okay,
here's
what
the
8130
tag,
that's
kind
of
like
the
airworthiness
document.
This
is
what
the
airworthiness
tag
looks
like.
A
So
it's
just
what
we're
trying
to
do
is
really
integrate
our
erp
system
so
that
you
know
the
big
events
tags
like
airworthiness
and
quality
tags.
All
of
the
data
is
getting
sent
on
chain
so
that
it
will
eventually
build
up
this
part
pedigree
platform
that
you
know,
applications
such
as
go
direct
trade
as
a
marketplace.
We
can
build
the
service
on
top
to
abstract
and
use
that
data.
A
So,
in
the
upper
right
hand,
corner
is
a
100
bill
and
there's
you
know
for
those
of
you
who
are
familiar
with
kind
of
the
anti-counterfeit
measures
on
the
100
bill.
There's
about
five
factors
that
we
know
of.
It's
like
you
know:
magic
inc,
there's
a
3d,
there's
a
translucent
stamp
on
it.
There's
all
kinds
of
things
on
the
100
bill
that
try
to
combat
you
know
counterfeit
activities.
A
So
what
we
want
to
do
within
our
supply
chain
process
is
we
wanted
to
apply
the
same
kind
of
physical
factor
authentication
while
using
blockchain
technology,
but
on
aerospace
parts,
and
so
why
did
we
even
start?
This
particular
trial
for
those
of
you
who
have
looked
at
blockchain
technologies
and
counterfeit
kind
of
technologies?
What's
interesting
is
a
lot
of
people
think
that
blockchain
technology
in
and
of
itself
is
a
good
anti-counterfeit
measure
which
is
not
true
at
all,
because
really
at
the
crux
of
it?
Blockchain
is
really
just
a
secure
digital
ledger.
A
It
doesn't
do
anything
more
than
that,
but
if
you
combine
blockchain
technologies
with
certain
anti-counterfeit
technologies,
you
can
really
have
a
powerful,
powerful
technology
at
your
disposal.
So
what
we
did
is
we
worked
with
two
startup
companies.
One
is
called
itrace,
the
other
one
is
called
secure
marking
and
you
can
count
a
third,
because
honeywell
also
has
a
magic
ink
of
its
own
that
we
use,
but
itrace
provides
kind
of
this
unhackable
qr
code
that
we
stamped
onto
a
physical
id
plate.
That's
on
the
aerospace
part.
A
You
have
you
know
you
have
two
things:
you
have
the
magic
ink,
so
you
need
a
special
light
to
prove
out
that
if
you
can
see
it
under
certain
frequencies,
then
it
has
a
magic
ink
which
is
a
symbol
of
you
know
the
authenticity
of
the
honeywell
part,
and
the
second
thing
is
that
qr
code
that
itrace
produces
that
patented
qr
code.
It's
like
a
qr
code
on
steroids.
A
It's
it's
bad,
that
you
can
call
it
a
qr
code,
because
it's
really
not,
but
that
is
a
code
that
you
scan
with
a
mobile,
app
and
authenticate.
So
it
proves
out
that
it
also
is
an
authentic
honeywell
part,
so
that
once
you
scan
it,
it
actually
registers
to
our
blockchain
ledger
forever.
So
it
kind
of
stores
like
that
digital
birth
certificate
and
because
that
marking
stays
with
that
aerospace
part.
A
When
that
aerospace
part
moves
on,
you
know
from
the
factory
you
know
to
the
maybe
the
airline
that's
going
to
install
it
onto
their
aircraft
when
the
airline
receives
it,
they're
going
gonna
scan
it,
and
then
it's
gonna
register
on
our
ledger
as
okay.
You
know
delta
airlines.
They
receive
this
part.
They're
gonna
install
it
on
this
aircraft
on
this
date,
and
so
you
always
have
that
physical
marking
with
the
part.
A
So
just
if
you
want
to
visualize
it,
you
think
about
a
part
and
all
the
stops
that
it's
going
to
make.
You
know,
because
that
itrace
code
follows
that
part
physically
and
so
does
that
magic
ink,
just
like
a
hundred
dollar
bill
that
authenticity,
those
two
factors
will
always
follow
that
part
for
the
life
of
the
park.
A
A
So
what
we're
trying
to
look
at
now-
and
this
is
why
I
really
consider
this
more
of
like
a
trial
learning,
because
we
want
to
figure
out
where
how
you
know
what
frequency
do.
We
really
put
this
type
of
technology
into
our
supply
chain.
So
when
we
ran
this
trial
was
on
a
starter
that
actually
goes
into
an
engine,
but
now
we're
trying
to
do
is
we're
trying
to
move
to
the
left
side
of
the
bill
of
materials,
and
so
within
this
starter
is
the
seal.
The
ring
the
bearing
ball,
the
gear
shaft,
the
clutch.
A
A
So
these
are
all
things
that
you
know
even
industries
like
the
food
industry
like
and
the
pharmaceutical
industry.
We
all
have
a
similar
problem
in
terms
of
like
how
deep
in
the
building
materials
do
you
go?
Do
you
go
into
the
build
materials?
What
do
you
actually
mark
like?
What
are
the
important
things
when
you're
really
trying
to
figure
out
like
tracking
and
tracing
of
parts?
B
I'll
unmute
in
just
a
moment
actually
lisa.
We
probably
are
going
to
end
up
having
to
re-unmute
ourselves.
When
I
press
this
button,
I've
noticed
it
before
so
I'll.
Just
do
that
now,
oh
actually,
we're
fine
actually
to
start
off.
I
actually
have
a
question
with
regards
to
the
itray
stuff.
It
sounds
pretty
interesting.
The
way
that
you
guys
are
going
about
it
I'd,
imagine
again
separating
the
documents
from
the
chain
and
the
anti-counterfeit
solution.
It
is
an
interesting
way
to
address.
B
B
A
Yeah,
I
think
you
know
when
it
comes
to
just
parts
tracing
in
general,
like
honeywell,
has
thousands
upon
thousands
of
part
numbers.
I
think
we
have
like
a
million
part
numbers
in
our
whole
erp
system,
but
we
don't
manufacture
them
all
anymore,
but
you
have
to
really
think
you
know.
Do
you
have
to
really
physically
mark
and
trace
every
part
I
mean
one
day.
A
That
requires
an
engineering
change
and
we
have
thousands
of
these
parts
so
to
do
an
engineering
change
on
all
of
these
seems
like
it's
a
lot
of
work,
but
at
the
same
time,
if
we
really
are
going
to
invest
and
say,
honeywell
is
going
to
track
and
trace
on
all
their
parts
and
set
that
precedence.
Then
you
know
doing
all
those
engineering
changes,
it
wouldn't
be
unprecedented,
but
it's
still
a
you
know.
A
As
far
as
like
hurdles
and
challenges
go
it's
a
big
investment
right,
and
so
when
you're,
especially
when
you're
starting
out
the
challenge,
is
figuring
out,
which
parts
should
we
strategically
mark?
I
think
for
us,
there
are
certain
product
lines,
such
as
the
leap
starter
that
goes
into
the
the
737
max.
There
are
certain
parts
that
we
strategically
want
to
start
with,
because
we
feel
like
adding
kind
of
like
this
traceability.
It
adds
value
to
the
part
that
we
feel
like
our
customers
would
really
want.
B
A
A
Those
are
all
automated
events
that
as
soon
as
they
happen
on
the
marketplace,
we
write
those
events
to
be
on
chain.
We
also
have
a
user
interface
that
people
can
log
into
that
if
they're
part
of
our
ecosystem
and
they
can
like,
for
example,
a
repair
shop
or
a
channel
partner
or
a
seller.
If
they
have
repair
events
that
they
know
about
the
part,
they
can
use
the
user
interface
to
load
in
repair
events.
So,
as
far
as
notes
go,
we
only
have
connection
to
three
separate
nodes.
A
Today,
one
of
them
is
an
oem
one
is
a
dismantler
like
an
aircraft
dismantler
and
one
is
a
repair
shop
and
those
are
all
like
distinct
nodes
where
we,
what
we
were
really
trying
to
do
was
test
out.
Can
we
have
inner
connectivity
with
other
nodes
outside
of
the
honeywell
firewall,
and
can
we
all
share
data,
and
can
this
all
work
so
right
now
our
ecosystem,
it's
small,
and
that
we
don't
have
a
ton
of
nodes
on?
A
You
know
the
chain
of
chains
type
effect
with
connecting
nodes
together,
but
right
now,
aerospace
is
it's
very
infantile
and
really
what
we
should
all
be
working
on
within
airspace
is
how
to
drive
adoption,
because
you
don't
have
enough
enterprises
that
really
want
to
invest
in
the
technology,
and
you
know
they
really
want
to
share
their
data
and,
like
you
know,
share
a
database.
The
same
digital
ledger.
B
And
that
brings
up
an
interesting
point.
I
mean,
given
that
the
industry
has
pretty
much
been
used
to
dealing
with
parts
in
analog
spaces
such
as
phone
and
just
calling
up
places
that
they
know
have
there
been
any
hurdles
from
the
business
perspective,
for
people
to
get
on
board
with
the
requirements
and
translating
quality
control
guidelines
for
lack
of
better
to
a
virtual
marketplace.
A
Yeah,
I
think
it's
so
one
thing,
so
besides
even
the
stuff,
with
the
blockchain
technology
that
we
use,
where
we
allow
sellers
to
upload
kind
of
like
part
history,
so
that
we
can
show
consumers,
you
know
the
marketplace
itself.
Blockchain
aside,
we
are
the
only
marketplace
within
aerospace
that
requires
price
product
images
and
quality
documents
for
each
listing.
There's
no
other
marketplace
on
earth
for
aerospace.
A
That
requires
those
three
things,
and
so
you
would
think
that
you
know
when
the
marketplace
went
live
about
a
year
and
a
half
ago,
that
you
would
have
sellers
like
beating
down
the
door
trying
to
use
this
technology
right,
but
it's
not
so
like
every
seller
that
comes
on
go
to
trade.
It's
like
a
seller
that
we
have
to
win
over
because
they
are
just
not
used
to
e-commerce.
A
A
As
soon
though
you
know
you
get
this
snowball
of
you
know
fomo,
and
if
you
don't
do
it,
you
know
you're
just
going
to
get
left
behind,
which
you
can
see
a
lot
of
brick-and-mortars.
That
did
that
right
now
with
go
direct
trade,
we're
in
this
the
phase
where
sellers
are
still
not
convinced
that
this
industry
is
going
to
move
online,
which
I
am
positive,
that
this
industry
eventually
will
move
online.
All
of
them
will
and
so
for
us.
A
I
think
it's
you
know
the
challenge
is
convincing
them
to
be
more
transparent,
whether
it's
price,
product
images,
paperwork
or
blockchain,
which
in
you
know
in
all
you
know
in
its
most
truest
sense
of
technology.
It
really
is
a
technology
to
bring
more
trust
to
the
transaction
right
to
bring
more
transparency
to
the
transaction.
B
And
that's
an
interesting
point.
I
think
we
I
mentioned
this
before
in
our
correspondence
lisa
when
it
comes
to,
at
least
in
my
experience
in
the
airline
industry.
Time
definitely
matters,
and
sometimes,
if
there's
an
aircraft
flight
delay
that
has
to
do
with
something
requiring
maintenance
or
aircraft
servicing,
they
call
it.
They
have
to
order
a
part
and
then
sometimes,
if
they
receive
the
part,
they
discover
that
it
needs
to
be
worked
on
a
little
bit
further,
which
causes
a
further
delay.
So
I
think
the
value
definitely
would
be
there.
I'd.
A
Yeah
and
it's
interesting
that
you
mentioned
that
you
mentioned
timing,
I've
read
a
lot
of
interesting
articles
on
just
startups
in
general
and
really
what
has
made
or
you
know,
made
or
broken
a
startup
like
what
has
been
its
kind
of
indicator
for
success
and
one
of
the
key
indicators.
I
mean
amongst
many
factors
which
could
be
like
you
know,
your
team
structure,
the
idea
itself
funding,
but
the
key
factor
is
timing
in
terms
of
like
startup
viability.
A
And
you
know,
if
you
look
at
the
marketplace,
blockchain
technology,
transparency,
efficiency.
You
know
we
really
are
banking
on
generation
z.
So
I
know
millennials
are
already
prevalent
in
the
industry.
Today
we
talk
about
millennials
like
they're
these
up
and
comers,
but
the
majority
of
the
workforces
now
become
millennials,
but
the
next
generation,
like
my
kids
generation
generation
z,
that
is
the
generation
we're
really
banking
on
here
in
terms
of
go
direct
trade
really
taking
off.
A
We
believe
that
generation
z,
they're
not
going
to
put
up
with
emails
phone
calls
and
faxes
like
let's
be
completely
honest.
What
they
will
expect
is
complete
transparency,
efficiency
and
if
something
doesn't
have
history,
they
will
not
even
spare
it
a
second
glance,
and
so
timing
for
us
is
going
to
be
key
in
terms
of
having
this
marketplace.
This
startup
really
survive.
B
A
Oh,
I
got
it
why
fabric
yeah
so
for
us,
I
think
you
see
if
a
handful
of
enterprises
really
liking
hyper
ledger
fabric
for
honeywell.
I
can
speak.
We
like
the
idea
that,
with
hyperledger
fabric,
you
could
build
on
multiple
channels.
So
the
way
that
we
have
our
structured
is
like,
for
example,
go
direct
trade
and
the
part
pad
degree
platform.
We've
built
it
on
a
specific
channel.
We
have
other
applications
that
are
running,
so
we
have
things
like
digital
engine
log
books.
A
We
have
things
going
on
with
like
the
co2
and
climate
accounting.
All
those
things
are
built
on
different
channels,
which
is
really
cool
for
us,
because
it
allows
us
to
be
really
flexible
with
our
development,
the
different
things
we're
trying
to
test-
and
I
would
say
the
second
thing
that
you
know
plays
in
big
at
least
with
a
larger
company
or
honeywell,
and
especially
within
an
industry
that,
I
believe,
is
pretty
you
know
new
or
infantile
hyperledger.
A
They
have
a
really
good
kind
of
infrastructure
of
learning,
which
normally
I'm
just
really
bad
at
stuff
like
that,
but
the
community
that
you
know
hyperledger.org
has
put
into
place
with
their
special
interest
groups
with
their
forums.
It's
a
really
really
really
robust,
effective
way
to
kind
of
learn
and
work
with
others.
So
I
think
they
have
a
really
good
infrastructure
in
place
for
learning,
collaborating
and
really
moving
the
technology
forward.
So
I've
I've
been
really
happy
that
we've
chosen.
B
Well,
that's
awesome!
Thank
you.
Tj
next,
one
is
from
rory
hanafan
and
his
question
is:
are
there
any
privacy
considerations,
for
instance,
some
people
might
want
the
price
not
to
be
written
on.
A
shared
ledger
is
that
is
that
something?
That's
is
that
something
that's
a
consideration
within
this
space.
A
Yeah,
so
what
we've
done?
I
don't
know
if
this
is
like
right,
wrong
or
indifferent,
but
so
keep
in
mind.
So
we
have
a
permissions-based
blockchain.
So
not
everybody
can
see
it
right.
You
have
to
be
part
of
our
ecosystem,
part
of
our
trusted
partners
to
really
look
at
the
data,
push
data
and
access
the
data
so
on
and
so
forth.
So
I'll
just
set
it
with
that.
A
The
second
thing
I'll
set
up
with
is
remember
in
the
world
of
corporate
america,
like
everyone
is
terrified
to
share
their
data,
because
everyone
believes
their
data's,
valuable
and
everyone
believes
that
they
can
monetize
it
in
some
way,
shape
or
form.
So,
having
said
that,
you
know
if
you're
trying
to
have
an
industry
and
really
drive
adoption.
A
If
you
want
other
people
to
play
with
you,
if
you
really
want
to
move
the
technology
forward,
you
can't
just
come
down
with
like
this
big
hammer
and
say
you
have
to
provide
all
these
data
elements
for
capturing
this
information.
And
if
you
don't
let
us
capture
it,
then
you're
going
to
be
out
of
luck,
and
you
can't
do
it.
If
you
did
that,
then
honeywell
would
be
the
only
person
using
this
ledger,
and
so
you
know
back
to
the
original
question
of
you
know.
A
Price
is
really
sensitive
right,
and
so
what
we've
done
is
there
are
events
where
we
don't
capture
that
really
sensitive
data
like
price,
but
for
the
owner
of
the
data.
We
will
capture
that
data
for
them.
That
makes
sense
so
like,
for
example,
in
this
pedigree
ecosystem
that
we
have
where
you
can
go
in,
and
you
can,
you
know,
put
in
a
part
and
get
like
the
quality
documents
and
the
images
and
things
like
that.
We
very
well
may
store
price
as
part
of
like
that
bill
of
sale
transaction.
A
But
at
the
moment
there
are
certain
key
things
that
we
don't
publicly
share
on
this
permission-based
blockchain,
and
we
only
do
that
because
you
know
you
have
really
big
players
that
now
they
have
bill
of
sale
transactions
and
as
of
right.
This
second
they're
very
scared
of
like
showing
information
like
that.
So
we're
storing
it
in
hopes
that
you
know
when
the
time
is
right
and
when
kind
of,
like
the
internet,
everyone's,
you
know
fearful
privacy
rights.
But
now
it's
kind
of
like
every
single
thing
is
on
the
internet.
A
I
think,
eventually,
as
the
years
go
on,
people
will
get
a
lot
less
hung
up
on
that
and
we'll
be
able
to
share
like
some
of
the
really
sensitive
things
such
as
price
and
really
that's.
You
know,
thinking
about
now.
That's
really
the
only
like
data
element.
I
can
think
of
that
people
really
are
scared
about.
Otherwise
everything
else
is
pretty
much
visible
and
you
can
see,
but
that's
really
a
sensitive
one.
B
That
answer
kind
of
relates
to
the
first
of
dave
mckay's
two
questions.
His
first
question
is:
how
are
companies
handling
their
private
keys?
Are
other
companies
comfortable
with
sharing
all
of
their
sales
info
with
a
possible
competitor
which
I'd
imagine
possibly
even
includes
just
a
list
of
their
inventory.
A
Yeah
so
with
this
particular
with
our
marketplace.
So
that's
why
people
are
so.
I
would
say
sellers
in
general
in
used.
Aerospace
are
so
I
want
to
say
scared,
but
they're
so
hesitant
to
post
their
inventory
online
with
a
price,
because
they're
just
afraid
that
if
they
post
price
someone's
just
going
to
undercut
them,
and
so
the
solution
that
they've
come
up
with,
is
nobody
post
price.
A
A
A
A
B
A
B
A
B
B
I'm
trying
to
see
if
I
actually
might
have
missed
some
questions
at
the
top.
I
don't
think
so
folks,
your
mics
are
also
unmuted.
So
if
you'd
like
to
ask
some
questions
out
in
person
feel
free
to
go
ahead,
we
are
closing
near
the
end
of
the
presentation
time
so
I'll
give
a
few
seconds
to
allow
for
that.
If
anyone
wanted
to
voice
a
question.
B
A
A
Had
a
you
know
like
a
a
car,
an
automotive
repair
shop
and
you
had
10
corolla
engines
on
the
shelf
and
you
don't
necessarily
want
to
repair
all
10
of
those
corolla
engines
and
make
them
all
overhauled.
At
the
same
time.
Maybe
you
just
want
to
keep
all
10
corel
engines
on
the
shelf
in
a
repairable
conditions,
so
they
it
still
needs
to
be
repaired.
And
then,
when
you
get
a
buyer
for
that
engine,
you're
going
to
go
and
overhaul
it
for
them.
So
on
go
direct
trade.
A
You
can
have
a
unit
that
we
call
it
as
removed.
So
it's
as
removed.
It
needs
to
be
repaired
or
overhauled,
but
we
set
a
lead
time
or
we
allow
the
seller
to
say.
Okay,
we
can
overhaul
this
within
30
days,
and
so,
if
you
think
about
it
from
a
seller
perspective,
it
enables
them
to
not
have
to
you
know,
take
all
of
their
parts
and
bring
them
to
like
a
gold
standard
and
they'll
they'll,
bring
it
to
a
gold
standard
or
into
a
repaired
standard,
but
only
when
they
find
a
buyer
for
it.
A
B
Okay,
yeah,
I
got
pretty
excited
when
I
when
I
saw
this
and
I
went
to
your
website
and
you
you
make
some
claims
about
what
the
blockchain
does
for
you,
but
in
in
going
through
here.
It
just
seems
like
maybe
you
have
like
one
small
element
like
your
track
and
trace
thing
on
a
blockchain
and
it's
not
properly
decentralized.
A
Yeah
so
we
have-
and
it
was
mentioned
before,
but
we
have
four
different
nodes
where
we're
connected
with
an
oem,
an
aircraft
dismantler
and
a
large
repair
shop,
so
that
those
things
like
their
events
will
come
in
through
that
node,
so
it
replicates,
but
within
aerospace.
This
is
a
very
infantile
technology,
and
so
what
we're
trying
to
do
is
work
with
larger
aircraft,
oems
and
large
tier
one
component,
oems,
like
a
honeywell
like
as
big
as
a
honeywell
to
figure
out.
A
Okay,
if
you
guys
have
a
ledger
as
well,
if
you're
on
hyperledger,
if
you're
on
a
different
technology,
how
do
we
connect
together
so
that
we
can
expand
out
this
ecosystem
because
we're
in
an
industry
where
this
is
not
a
prevalent
technology?
That's
being
used
everywhere
right
and
so
the
only
way
that
honeywell
knows
to
increase
the
adoption
in
this
industry
is
to
do
as
much
of
it
ourselves
right,
integrate
it
with
our
erp
system,
integrate
it
with
our
marketplace,
expand
with
you
know,
using
an
aircraft
dismantler
to
set
up
a
node.
A
Oh
well,
I'm
sorry
you
think
that,
but
honestly,
our
blockchain
ledger
itself.
We
have
over
25
million
transactions,
and
so
we
consider
that
very
value-add
to
our
consumers
right.
If
we're
able
to
provide
a
pretty
rich
history
on
some
of
these
parts
by
obtaining
the
data
from
other
sources,
then
we
consider
that
a
really
big
win,
especially
for.
A
A
B
Right
and
that's
quite
that's
why
you
need
to
decentralize
it.
So
if
everyone
runs
their
own
nodes
and
then
they
can
set
the
confidentiality
on
their
data,
they
would
need
to
run
their
own
private
keys,
which
it
doesn't
sound
like
you're
doing,
and
then
that
way
they
could
keep
their
own
data
confidential,
as
opposed
to
everything
going
through
honeywell,
which
seems
to
me
like
a.
A
A
B
C
Yeah,
I
think
I
agree
with
lisa's
last
points
there.
If
you
look
at
tech
adoption
life
cycle,
you
need
the
innovators
before
the
early
adopters.
So
it's
important
for
you
know
companies
like
honeywell
to
actually
take
the
take
the
risk
and
to
try
this
out,
because
that
actually
benefits
our
ecosystem,
because
now
most
people
see
that
it
works
in
production.
You
know,
25
million
transactions
is,
is
very
difficult
to
do
and
once
people
see
that
that's
works
in
production,
they'll
be
very
eager
to
now.
A
Yeah,
no,
I
agree,
and
I
think
it's
it
really
is
it's
not
that
honeywell
wants
to
be
the
only
node
I
mean
we
want
all
these
big
players,
big
and
small,
to
participate
in
this
decentralized
ecosystem,
but
you
will
not
get
more
nodes
until
people
really
start
to
buy
into
it.
Otherwise,
it's
just
going
to
be
honeywell.
I
can
almost
guarantee
you
that
within
aerospace.
A
A
But
this
is
not
just
that
honeywell
wants
to
be
one
player
in
it.
We
are
trying
very
hard
to
get
this
to
be
a
decentralized
solution
with
other
nodes
and
it's
going
to
be
slow
going
until
we
get
some
of
the
big
players
which
is
really
on
our
plate.
For
this
year,
like
aircraft
oems
and
the
other
large
tier
one
component,
oems.
B
It's
great
that
we
were
able
to
address
some
of
those
point
nearing
the
end
here.
We
are
at
seven
so
that,
unfortunately,
is
time.
If
there's
anything
else,
we
will
have
the
recording
for
this
available
online
very
shortly
and
lisa.
I
don't
know
if
slides
will
end
up
being
available,
but
if
they
are
we'll
also
post
them
at
the
meetup
page.