Building A blockchain-based decentralized digital asset management system for commercial aircraft leasing

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. (C) 2021 Elsevier B.V. All rights reserved.

Automated summary

This paper examines how the commercial aircraft leasing sector can benefit from blockchain technology, proposes a suitable blockchain application design, and demonstrates the feasibility and practicality of blockchain solutions through a proof-of-concept.