New patent filings from General Electric suggest that the U.S. conglomerate may be looking at blockchain as part of a wider aircraft monitoring and maintenance system.

The U.S. Patent and Trademark Office (USPTO) published five applications from GE today, each of which focus on a concept for a “dynamic optimization” system that would touch multiple aspects of managing and operating aircraft, including maintenance services.

One component of that system, the applications indicate, would be a mechanism for parties involved in the aircraft oversight process. While noting that these entities would typically be paid through traditional finance channels, they suggest that cryptocurrencies – or some application of blockchain thereof – could facilitate such payouts instead.

“The delivery of the cash flows amongst stakeholders is certainly enabled with traditional debits and credits into financial accounts and may be implemented with crypto-currency mechanisms whose core logic is informed by precise allocation of cashflows,” the applications note – though they don’t include any other mention of the technology.

That GE would potentially investigate this area is perhaps unsurprising, given past developments from notable airline carriers. Earlier this year, Air France revealed that it was looking at blockchain as a way to track maintenance flows for its airplanes, with the idea being that the technology could underpin a shared database of update information.

Image Credit: Jonathan Weiss / Shutterstock.com

Disclaimer Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.