Daily Management Review

Head Of Denfence And Aerospace At Accenture Sees Blockchain Reshaping Aviation Industry


06/30/2017


Blockchain could replace experience in the aviation engineering sector.



The aerospace industry experts turn to Blockchain technology to reduce the maintenance cost of planes. Blockchain has the ability to gather information from multiple parties as a “single ledger”, which then are made accessible to the users as a “single record information”. In the “Paris Air Show”, Accenture’s “Aerospace and Defense” Head, John Schmidt, said:
“I really see this coming in, in a couple of years”.
 
Schmidt holds the maintenance of engines exemplary for airlines to avoid “wasteful work”. He also added:
“Through all that life cycle of the engine, the original parts, the replacement parts and configuration are all being tracked, and it is being done by a number of different companies.
“Blockchain is in effect a single federated ledger that everybody who uses and touches that engine could use it as a single point of truth of what has happened to the engine”.
 
According to Schmidt the engineers with the help of blockchain data will be able to configure, and know the “parts list, and usage data” of a plane in a precise manner without ever working on it, whereby at present, the maintenance team manages only “macro factors” like the duration of engine usage. In his words:
“The reality is an engine has high-pressure and low-pressure usage and each of these may impact the true number of cycles the engine has achieved in its life”.
 
As per the current trend, busy engineers get airplane contract “just because they have previously worked on the same engine”, notes the “aviation consultant”. On the other hand, Blockchain, providing “a wealth of information”, will allow “less busy” maintenance crews also to secure contracts. He said:
“My inclination would be to use a shop that has already worked on the engine, but that shop may have a 30-day backlog.
“With blockchain, you can look at what other options might be available”.
 
Although Accenture shows full support blockchain, other “airlines, plane manufacturers, and service contractors” are yet to be convinced, as Schmidt informs:
“It is something we can see clearly in terms of the benefits and we effectively have a patent pending on how to leverage blockchain in the aftermarket.”
 
 
 
References:
www.cnbc.com







Science & Technology

How China became a pioneer of the solar industry

CNBC: Intel leaves the wearable gadgets market

Oculus Rift falls in price…again

Ukraine Police Official Says Likely Cover For Malware Installation Was Global Cyber Attack: Reuters

Researchers See 'Wannacry' Link As Another Cyber Attack Sweeps Globe

AEON and IBM to create a blockchain platform

Toyota & Cartivator Are Building Flying Cars To Light Up The Olympic Flame Of 2020

Stock trading computers are not a future anymore

Temper Technology With Humanity - Apple's Cook Tells MIT Graduates

As Spying And Crime Tools Mix, Blame Game For Cyber Attacks Grows Murkier

World Politics

World & Politics

CNN: Rex Tillerson may leave the post of US Secretary of State

Its South China Sea Territory Being Protected By Indonesia From 'Foreign' Threats

A Swarm-Like Attack From North Korea Could ‘Overwhelm’ South Korea's THAAD Missile Shield

Powerty in Italy tripled in 10 years

Hackers steal a businessman's reputation in Sweden

PWM reveals best citizenship-by-investment programs

Austria gathers troops to shelter itself against refugees

In Thirty Years Human Beings Will Work Only 'Four Hour A Day', Predicts Jack Ma