How blockchain disrupts aircraft mx

There’s still debate as to who actually invented blockchain technology and who Satoshi Nakamoto is (perhaps it’s Craig Wright). But there’s no debate about the potential of this technology.

The uses of blockchain are expanding beyond Bitcoin and other cryptocurrencies. In fact, blockchain may very well disrupt aircraft maintenance.

Here’s why and how it could happen:

Why Blockchain Could Revolutionize Aircraft Maintenance

Don Tapscott, co-founder of the Blockchain Research Institute, explains that the blockchain is more than “an incorruptible digital ledger.” As Tapscott notes, blockchain “can be programmed to record not just financial transactions but virtually everything of value and importance to humankind,” from marriage licenses to transactions between smart objects.

This is why consultants in general aviation are predicting that the industry will begin adopting blockchain in a meaningful way. This is because general aviation is much more resource challenged than the commercial airline industry, which means people and services within general aviation must do more with less.

Think of blockchain as a single ledger that’s capable of recording information from several different parties. It’s a shared, consistently reconciled database. That means users get real-time access to a unified record of information.

In short, blockchain can provide a wealth of information, making maintenance teams more effective at monitoring and repairing aircraft parts and systems.

How Blockchain Can Transform Aircraft Maintenance

Examine modern aircraft. On each plane, there are literally millions of parts. If it sounds like adequately maintaining all these parts can get complicated, it’s because it can.

But what if there was a single point of truth for everything that’s happening with the engine and other components?

Blockchain can delivery precisely that. Blockchain can track every component of an aircraft — both big and small.

Even more notable is that blockchain can provide details on the entire life cycle of an aircraft component — not just report information while being used on a business jet or helicopter. Blockchain can bring together information from the manufacturer, distributor, installer, inspector and operator. And it can do so digitally, which will massively reduce the overhead of current paper-based methods.

As of now, mostly disparate systems exist for aircraft parts. Manufacturers have their own records and operators have a different one. This means engineer teams can usually only focus on macro issues, like how long the engine has been in use. With blockchain, they have a clear record of every part, allowing them to pinpoint where an issue may be.

This is why blockchain can make aircraft maintenance not just better, but also more cost-effective. Even engineers who haven’t worked on the airline can find out what they need by analyzing the ledger, which includes usage data, configuration, repair history and more in a unified record.

How Blockchain Can Track Everything About Aircraft Maintenance

Once a part is made, the manufacturer can make the new blockchain. Other participants can then add blocks to the chain. The distributor can report that a part has been transported to a buyer. The aircraft owner can then register the flight hours the part has undergone, along with repair history, inspections and other relevant data.

Blockchain doesn’t just increase trust among producers, suppliers and users, it gives maintenance workers a trustworthy, verifiable and trackable list of information that’s available immediately. This leads to more accurate maintenance operations and greatly decreases operating costs. It makes the entire maintenance function lighter and more efficient.

Airlines Can Win With Blockchain Technology

More efficient aircraft maintenance is how airlines can reduce expenses and improve safety. Blockchain technology can deliver through tracking of every part, recording of accurate data on a unified ledger, and lowering costs through efficiency and lighter administration.

Simply put, those in the general aviation industry that adopt blockchain technology sooner rather than later stand to benefit greatly.

Sources

https://www.linkedin.com/pulse/whats-next-generation-internet-surprise-its-all-don-tapscott

https://www.cnbc.com/2017/06/27/blockchain-set-to-disrupt-aviation-within-2-years-claims-accenture.html

https://www.linkedin.com/pulse/6-technologies-disrupt-aviation-2017-houman-goudarzi

http://blog.ifsworld.com/2017/06/disrupting-aviation-blockchain/

https://www.wired.com/2015/12/bitcoins-creator-satoshi-nakamoto-is-probably-this-unknown-australian-genius/

https://blockgeeks.com/guides/what-is-blockchain-technology/

https://www.iata.org/whatwedo/workgroups/Documents/MCTF/AMC-Exec-Comment-FY14.pdf