# NFT-Based Framework for Digital Twin Management in Aviation Component Lifecycle Tracking
## 3 Results
### The Workflow for Ownership and Leasing Using NFT-Based Technology  
The workflow for ownership and leasing using an NFT-based system presents an approach to managing aircraft ownership and leasing arrangements (Figure 9). This system provides a secure, transparent, and efficient method for tracking the lifecycle of aircraft ownership and leasing transactions.  
The process begins with aircraft manufacture, where a unique NFT is created to represent the aircraft. This digital token serves as the immutable record of the aircraft's existence and subsequent ownership history.  
Initial ownership is established immediately after manufacture. The NFT is updated to reflect the first owner's details, creating a verifiable record of the aircraft's provenance. This stage is influenced by ongoing asset management practices and must comply with regulatory compliance requirements. Both of these elements provide regular updates and verifications to the NFT throughout the aircraft's lifecycle.  
From this point, the workflow diverges based on whether the aircraft will be transferred to a new owner or leased. This decision point is represented by the \"Transfer or lease?\" diamond in the flowchart.  
If a transfer occurs, the process moves to ownership transfer. Here, the NFT is updated to reflect the change in ownership. This update includes details of the transaction, such as the date of transfer and the new owner's information. Once the transfer is complete, the new owner is registered in the system, and the NFT is updated accordingly.  
In the case of a lease, the process follows the lease agreement path. The NFT is updated with the terms of the lease, including the lessee's details, lease duration, and any specific conditions. This creates a transparent and immutable record of the leasing arrangement.  
Following the lease agreement, the aircraft enters lessee operations. During this phase, the NFT is regularly updated to reflect the aircraft's usage, maintenance, and any significant events that occur while under the lessee's control. This ensures a comprehensive record of the aircraft's history during the lease period.  
The leasing process includes a decision point for lease expiration. If the lease has not expired, the aircraft remains in lessee operations. However, upon lease expiration, the process moves to lease return. At this stage, the NFT is updated to reflect the end of the lease agreement and any final inspections or conditions related to the return of the aircraft. Finally, the aircraft is returned to the lease, and this transition is also recorded in the NFT.  
Figure 9: Flowchart of the workflow for ownership and leasing.  
Throughout this entire process, three overarching elements play crucial roles:
* Ongoing asset management involves continuous monitoring and updating of the aircraft's status, value, and condition. Regular updates are made to the NFT to reflect changes in these aspects.
* All stages of ownership and leasing must adhere to relevant aviation regulations. The system verifies compliance at each step, with the NFT updated to reflect adherence to regulatory requirements.
* The NFT is consistently updated throughout the aircraft's lifecycle, ensuring that all relevant information is current and accurately reflected in the digital record.