Zurich, Switzerland – Bangkok, Thailand
The leading providers of global aerospace logistics (Kuehne+Nagel) and aerospace blockchain asset management technology (Block Aero) have come together to offer engine stand managers a value-added solution to convert costly, underutilized, necessary equipment into reliable and profitable IOT-powered aviation assets.
OEMs, MROs, operators, and lessors from the KN EngineChain and Block Aero Aviation Blockchain Network will be able to unlock digital potential by sharing real-time availability status and demand signals with participants in a private-permissioned ecosystem. Monitored and managed on this revolutionary dashboard interface, each engine stand is transformed into a smart stand, treated as an individual asset that is traceable, reliable, and profitable.
Smart stands combine physical sensors and a digital passport to store immutable records and important event data. Stands are opted-in, serialized with the Block Aero distributed ledger application, and complete a secure global pool onboarding process to establish chain of custody and maintenance status document review. Leveraging a permissioned blockchain solution provides all constituents with maximum security and access 24-7.
Taking an open innovation approach, Block Aero and Kuehne+Nagel expect to collaborate with more organizations that can bundle value-add services into the Engine Stand Global Pooling Program, including financing, maintenance, trading, and asset management.
Todd Siena, Block Aero Founder & CEO said:
Block Aero estimates that many stand owners will be able to generate from $1-10m of free cash flow in the short-term by onboarding assets to the global pool and leveraging the program’s sale and lease-back offerings.
Marcelo Riso, Kuehne+Nagel Global Aerospace Product Manager for Engine Logistics said:
The ability to seamlessly integrate logistics, maintenance, and asset management functionality in real-time with a bundled solution is the breakthrough scenario we are excited to jointly bring to market with Block Aero.
The first engine stands to have IOT installed and be onboarded to the new program will be selected from August 2022; There are more than 70,000 stands that are candidates to receive an upgrade in equipment and innovative financing options by year-end under a subsidized early adopter program.
With over 78,000 employees at over 1,300 sites in over 100 countries, the Kuehne+Nagel Group is one of the world’s leading logistics providers. It operates in sea logistics, air logistics, road logistics and contract logistics, with a clear focus on integrated logistics solutions.
Block Aero offers a peer-to-peer collaboration platform built to solve problems in aviation asset management. We transform fragmented aviation data into frictionless digital assets with blockchain technology.