Evaluation of Improvement in Supply Chain Efficiency Using Blockchain Technology in Aviation Industry

A blockchain is essentially a distributed database of records, or public ledger of all transactions or digital events that have been executed and shared among participating parties. Each transaction in the public ledger is verified by consensus of a majority of the participants in the system. Once entered, information can never be erased (Ølnes S, Ubacht J, Janssen M. Gov Inf Q 34(3):355–364, 2017). The blockchain contains a certain and verifiable record of every single transaction ever made. Bitcoin, the decentralized peer-to-peer digital currency, is the most popular example that uses blockchain technology. The blockchain technology has worked flawlessly and found wide range of applications in both financial and non-financial world. The main hypothesis is that the blockchain establishes a system of creating a distributed consensus in the digital online world (Crosby M, Pattanayak P, Verma S, Kalyanaraman V. Appl Innov 2(6–10):71, 2016). This allows participating entities to know for certain that a digital event happened by creating an irrefutable record in a public ledger (Pournaras E. J Parallel Distrib Comput 145:160–175, 2020). It opens the door for developing a democratic open and scalable digital economy from a centralized one. There are tremendous opportunities in this disruptive technology, and the revolution in this space has just begun (Denis G, Alary D, Pasco X, Pisot N, Texier D, Toulza S. Acta Astronaut 166:431–443, 2020). This article aims to evaluate and critically analyze the improvement in network delays in supply chain of Aviation Maintenance Organization operations. Moreover, this paper also evaluates and compares increase in efficiency in terms of exchange of data / information between nodes and clients (stakeholders) of an Aviation sector organization.