The blockchain technology has the potential to drastically change the way record-keeping and asset management is done. While more and more aerospace companies are starting to adopt the new technology, commercial aircraft leasing can still be considered uncharted territory for blockchain applications. The present paper analyzes how the sector stands to benefit from such a solution and proposes a suitable blockchain application design, focusing both on the regulatory and business needs as well as the implementation from a technological perspective. Our proof-of-concept demonstrates that asset management in commercial aircraft leasing can realistically be handled by a blockchain solution such as the one proposed in this paper.
Keywords: Blockchain; Hyperledger; Aircraft leasing; Smart contracts; Privacy; Internet of Things
Acknowledgements
This work has been supported by the Comunidad de Madrid (Spain)under the project CYNAMON (P2018/TCS-4566), co-financed with FSE andFEDER EU funds, by Ministerio de Economía, Industria y Competitividad (MINECO), Agencia Estatal de Investigación (AEI), and European Regional Development Fund (ERDF, EU), through project COPCIS, grant number TIN2017-84844-C2-1-R, and by the Consejo Superior de Investigaciones Científicas (CSIC) under the project LINKA20216 (“Advancing in cybersecurity technologies”, i-LINK+ program). We thank flightera.net for providing us with flight data for the simulation.
