On 16th July 2018, the famous multinational company, Accenture, introduced a new blockchain prototype specifically catering to the aerospace and defense industry held at the Farnborough Air Show, the second largest exhibition in the world.
John Schmidt, a global managing director for Accenture’s Aerospace and Defense practice says:
“The aerospace and Defense industry has one of the world’s most vast and complex supply chains. Blockchain technology offers a new, elegant and secure way for the industry to track and trace myriad components while deterring counterfeiting and improving maintenance capabilities. Used in combination with technologies like digital twins and digital threads, blockchain could ultimately be a game-changing innovation for this sector.”
After the introduction of blockchain in the aerospace and defense [A&D] industry, enhanced data sharing throughout the product design can be facilitated, including the manufacturing and maintenance of lifecycle.
Based on Hyperledger Fabric, a project hosted by the Linux Foundation, the prototype combines blockchain and other innovative technologies including Thale’s physically unclonable function [PUF] to ensure that the data is constant throughout the product lifespan.
Hyperledger Fabric is a blockchain framework implementation and is a foundation for developing applications. It leverages technology to host smart contracts called ‘chaincode’ and includes components such as consensus and membership services.
The introduction of blockchain in the A&D industry will add momentum to the growing blockchain interest in the aerospace and defense industry. According to a recent report by Accenture, 86% of A&D companies are expected to integrate with the blockchain technology by 2021.
Gareth Williams, Vice President for secure communications and information systems at Thales UK said:
“Identifying counterfeit and grey-market goods in the A&D supply chain can be challenging. Using blockchain in combination with cryptoseals and physically unclonable functions allows you to build a trusted history behind parts.”
He further explained:
“This demonstration builds on the strong relationship Accenture and Thales have created developing innovative digital solutions for a variety of industries.”
Thales is a global technology leader for Aerospace, Transport, Defense and Security markets. In the year 2015, Thales reported the sales of 14 billion Euros with the help of 62,000 employees in 56 countries. The company builds products such as flight control and electronic radio control systems for aircraft, tanks, submarines, and railroads.
The post Accenture introduces blockchain technology in aerospace and defense industry appeared first on AMBCrypto.