Blockchain airplane maintenance

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• Blockchains and distributed ledger for aviation
• AviationAvi
• Please wait while your request is being verified...
• How Aviation Industry is Saving a Million By Investing in Blockchain?
• Aero Engine Round Table: “Blockchain – the future of engine & component history”
• Taking the aviation industry to new heights with blockchain and Modex BCDB
• Beyond the Hype: Blockchain and Its Applications in Business Aviation
• Blockchain for Aviation – Better Transparency and Trust Using Blockchain

WATCH RELATED VIDEO: Blockchain for Aviation: Redistributing Wealth with Blockchain - AIBC Summit

Blockchains and distributed ledger for aviation

On January 3, Israel Aerospace Industries IAI and Poalim Bank announced a strategic collaboration on the use of blockchain for securing information within the business aviation lifecycle. Often confused with bitcoin, blockchain is the technology upon which bitcoin rests. It is essentially a widely accessible database. Participants within a blockchain can submit information.

In the case of bitcoin, users submit financial transactions to the blockchain. With aviation, users could submit flight hours, traveler information, safety records, and much more. This information is then confirmed via a mechanism established by the community using that blockchain. These blocks are then sealed upon completion. Once in the chain of blocks, information cannot be changed.

Each piece of information and each block is confirmed using cryptography. This allows each blockchain user to confirm that the information remains unchanged.

A key component of a blockchain is that it is decentralized. Therefore, because no one entity owns the blockchain, all stakeholders within business aviation can use it to share records. Similarly, because every entity can access the information within the blockchain, there is no need for multiple record-keeping systems. The cryptography used in the blockchain offers improved security over traditional web-based and internal record-keeping systems.

Additionally, cryptographic timestamps on each point of data reduce the opportunities for fraud. Blockchain data is recorded in ledgers that are on the servers of each participating organization. These ledgers are updated simultaneously with each new addition of a block.

Most proposed aviation blockchain applications currently seek to resolve problems in operations, as well as maintenance, repair, and overhaul MRO. These five patents create a theoretical system for tracking aircraft maintenance records, parts acquisition, flight records, and any additional information pertaining to the life of an aircraft. Boeing is examining both the use of blockchain for securing the supply chain process and resolving current aviation cybersecurity concerns.

A December Boeing patent application reveals the company's intention to use blockchain to prevent GPS spoofing events. Accenture Consulting, a major technology consulting company, proposes the blockchain for e-ticketing and airline loyalty programs.

Meanwhile, IATA is evaluatingusing blockchain for a payment system. All Rights Reserved. Skip to main content. Aviation International News. Business Aviation. Latest Trending. Jan 28, - PM. Jan 28, - AM. Universal Aviation Expands Network in Spain. Oct 13, - AM. Gulfstream's Growing Family.

Nov 2, - AM. A modest proposal to boost general aviation. Jan 26, - AM. Mercy Missions. May 11, - AM.

AviationAvi

A Blockchain is a decentralized system that removes central data threats. Blockchain technology plays a significant role in ensuring a transparent, visible, and well-linked supply chain for the aerospace and defense industry. The existence of large and complex supply chains increases the demand for the defense sector's technology, which in effect boosts the development of the aviation blockchain industry. In the private or public blockchain can be stored service records and diaries, production data and details, product information, and other in-depth information on the aircraft.

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I have read and understood the privacy policy. Blockchain is already disrupting the fintech industry. Aviation has always been on the leading edge of innovation. Recently, however, a new technology has been leading digital innovation — blockchain. While still a new concept, blockchain is already disrupting the fintech industry with its secure operating principles. Blockchain is now on target to improve the aviation industry as well. At its core, blockchain is a public ledger which allows users to add information but prevents anyone from changing previously entered data.

How Aviation Industry is Saving a Million By Investing in Blockchain?

But a blockchain—the underlying technology behind cryptocurrency—could help make life a lot easier for pilots. Blockchains could make aviation more secure, the lives of pilots easier, and the FAA more effective. As an airline pilot, I occasionally get an aviation safety inspector or other FAA official riding on the jumpseat of my aircraft. The year is How are medical certificates still pieces of paper?

Aero Engine Round Table: “Blockchain – the future of engine & component history”

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. In this day and age, the aviation industry is certainly one of the fastest growing industries of the 21 st Century. The emergence of blockchain technology has given rise to a new hype of technological innovation which certainly could add value to numerous aspects within the aviation industry itself. The use of blockchain in aviation could open up new opportunities in the sphere of transparency namely with regards to maintenance, flight data security and passenger information which will ultimately help in increasing efficiency and accuracy levels. Before assessing the potential benefits of blockchain in aviation one first needs to have a basic understanding of the technology itself.

Taking the aviation industry to new heights with blockchain and Modex BCDB

The aviation industry is vast, complex, and interconnected and is growing rapidly. The companies that manufacture operate, and service aircraft are seeking out cutting edge technology which will allow them to optimize performance. Blockchain has the capability to significantly streamline the earning, spending, accounting and reconciliation of frequent flyer points. The blockchain technology has been identified as one of the major technologies that may adversely impact the future of aviation, along with new modes of consumption or the privatization of infrastructure. The Blockchain technology is currently going through a phase in which it is gaining more maturity and the real benefits are becoming clearer. The report divides the aviation blockchain market into four submarkets namely vertical including Commercial and military; end user including airlines, MRO, OEMs, airports and lessors; application including cargo and baggage tracking, passenger identity management, flight and crew data management, frequent flyers program, smart contracts, supply chain management, aircraft maintenance; and function including record keeping and transaction.

Beyond the Hype: Blockchain and Its Applications in Business Aviation

For the best experience, please access this site using the latest version of the following browsers:. Blockchain technology is here to stay. Originally developed to keep track of cryptocurrencies, like Bitcoin, blockchain technology is being embraced worldwide by industries as diverse as financial services, real estate, health care, manufacturing and — of course — aerospace. Aerospace companies of all types and sizes recognize that blockchain networks can help them improve operations and securely share data across many domains and touchpoints, from the airline ticket counter to the flight line.

Blockchain for Aviation – Better Transparency and Trust Using Blockchain

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We do not have one industry where blockchain technology has not crawled its way into, but the question remains: is the aviation industry making the most of it? Did you know that blockchain technology in the airline industry is the key element in creating a seamless travel experience? But, we have very little knowledge about blockchain and its potential to transform the airline industry. Its fundamental and most important characteristic is that it is secure and next to impossible to tamper with. Hence any industry such as aviation itself, that relies highly on data integrity could take great advantage of the latest blockchain technology trends. Enough said!

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Would you like to travel in a plane which is not safe to fly? The answer would be No. Who wishes to book a ticket on the airplane that has maintenance issues? Currently, it is impossible to book a flight based on its aircraft score or rank.