Leading airlines and aerospace industry giants are planning to implement blockchain technology to monitor and trace their supply chains. According to Reuters, leading manufacturers Airbus and Rolls-Royce are already working with start-ups to implement blockchain to their tracking systems.
Why it is important?
- Blockchain technology will make parts tracking more secure and transparent, and minimize red tape
- All parts will be monitored, including those still on theproduction line and those already installed
- Quicker safety checks after accidents
- No room for corruption due to the blockchain’s security encryptions and decentralized system
Airbus and Rolls-Royce’s efforts appear to be running parallel to Moog, an American flight control system manufacturer that is currently developing VeriPart - a blockchain-based solution to track 3D printed components.
Lufhansa and Air New Zealand have also previously expressed interest in experimenting with blockchain.
By Nadya Astam