Accenture and Thales Release New Blockchain Technology for Aerospace Industry in Farnborough
New professional company Accenture has partnered with massive tech developers Thales to create prototype blockchain oriented protocol. The purpose, to assist in securing supply chains, thereby making them more streamlined for the aerospace and defense industry. The new prototype was given at Farnborough’s Air Show in England today.
The new system combines a number of different technology enhancements, like blockchain, among others. The Internet of Things is included, making Thales unclonable function solution used on silicon-based chips and Chronicled tampered-proof cryptoseals essential. By using these advanced technologies, the newly developed platform is able to track, trace and easily authenticate aircraft parts on a worldwide scale.
They’ll now have the power to identify black market goods that are counterfeit in the aerospace defense supply chain, which can be extremely challenging, according to Gareth Williams. Williams, vice president of secure communication and information systems at Thales UK division recently made comments in a press release. The comments focused on using blockchain technology in combination with physically unclonable functions or cryptoseals that allow you the ability to create trust history which backs the parts.
In an older focus group survey taken by Aviation Week during 2015, there was almost 30 percent of respondents made reports that the largest challenge faced by defense companies in the aerospace industry, related to supply chain, is determining where to ship each aircraft part and when. Getting the parts to locations on time has been one of the biggest problems. Another 24 percent of the group stated the most difficult challenge has been locating new suppliers, with 16 percent referred to problems with regulations.
The best way so far to fix these problems, has been to use blockchain technology. 86 percent of aerospace and defense organizations intend to implement blockchain technology into their private systems as early as 2021, as said during a report from Accenture.
The aerospace defense economy contains one of the most advanced supply chains in the world, according to John Schmidt, global managing director for Accenture’s Aerospace and Defense practices. The blockchain technology gives rise to a new way to secure the industry, in order to trace and track authentic parts of any system, thereby making counterfeiting impossible while improving the ability to maintain the capabilities of the platform. These are used in combination with technology like virtual threads and twins. The blockchain has the ability to ultimately create a game-changing innovation for the sector.