Hello from the SymVerse team,

In this series, we would like to delve into some of SymVerse’s partners.

The first one in our list is STX group!

As you saw on our previous news article,

Established last year, STX Aero Service is a subsidiary of STX Corporation that provides high-end MRO (Maintenance, Repair, and Overhaul) services.

STX Aero Service, a subsidiary of STX corporation, have formed a strategic partnership with International Air Transport Association (IATA) and currently are working on a project to implement blockchain for aviation maintenance and record keeping of aviation parts. In this regard, SymVerse CEO Choi Soo-hyuk, who is also a technical advisor to STX, demonstrated how such technology can be implemented at the International Air Transport Association (IATA) Maintenance Cost Conference, held in Athens, Greece. After the demonstration, many global airlines in the US, Europe, and Japan has shown great interest and reached out to Dr. Choi regarding the technology.

STX Aero Service currently established an aircraft maintenance center, near Incheon International Airport and entered the domestic aircraft landing gear maintenance service market, now reaching KRW 100 billion won in revenue. There can be many expected benefits when applying blockchain to maintain the life cycle of various aircraft parts. In the future, we will actively collaborate on the development of aircraft management software solution using SymVerse and DID-based blockchain technology.

By managing aircraft parts using the transparent and immutable features of blockchain, it provides a more trustworthy supply chain which benefits many parties of related businesses.

Please keep on a lookout for more introductions of our partners in the future!