KANALCOIN NEWS – Honeywell International Inc. is a publicly traded company with an $80 billion market cap, which Honeywell previously blocked the market for aircraft parts. But recently Honeywell stated that it could immediately record carbon footprints at home using the Blockchain ledger project.
Honeywell’s GoDirect general manager, Lisa Butters, commented that the company took an unorthodox approach in adopting this complex technology. So at first Honeywell knew nothing about Blockchain, but sixteen months ago met with a small group in India which consisted of six developers working on the new technology. The new technology in question is a technological development that can be done at home. So since then Honeywell has been very involved with the Hyperledger group.
So paradoxically, the Honeywell GoDirect playform does its own thing for Blockchain ledger projects by building a complete Blockchain fabric. So that anyone who uses a Gmail account can enter and buy aircraft components. Previously also in December 2019, Honeywell also worked together with iTRACE to authenticate space products through this Blockchain technology.
Lisa Butters also believes that Blockchain ledger project technology can be applied in many other fields as well, one of which is in the field of carbon emissions. So Honeywell does have to report carbon emissions for all of the company’s facilities, and it usually does this manually. But with the opportunity the project is much easier. And it turns out that this Blockchain project doesn’t have to be just for companies, it can also be for homes. Which can be used in some basic calculations, such as electricity or diesel or gas. So Honeywell is currently investigating the carbon footprint for homes using Blockchain.
The general manager of Honeywell also sees that many companies fail with Blockchain projects because they don’t start with clear case data. So he thinks it’s necessary to change the data to a ‘Walled-garden’ approach, whereby starting with a real problem that you need to solve. Because the lack of trust between buyers and sellers makes everything done offline. So it was from there that Honeywell saw this as a big opportunity and had the idea to build something like Carfax for the company’s industry.
Lisa Butters also observes that corporate America needs to embrace Blockchain ledger project technology to provide a paradigm shift on how it thinks. It’s because the technology makes sense, so the reason why it isn’t widely accepted is because corporate America has a ‘Walled Garden’ approach to data. So corporate America needs to start sharing data to bring about a major paradigm shift. And perhaps the global crisis brought about by the Corona virus will serve as a catalyst for change.
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