Dublin-based major consultancy firm Accenture has partnered with French multinational aerospace firm Thales Group to update aircraft supply chains using blockchain, according to a press release July 16.
Based on Hyperledger Fabric and set for its debut at the UK's Farmborough Airshow July 21-22, the solution will use blockchain in tandem with Thales' physically unclonable function tool to "Track, trace and authenticate aircraft parts and materials."
"Blockchain technology offers a new, elegant and secure way for the industry to track and trace myriad components while deterring counterfeiting and improving maintenance capabilities."
Schmidt added blockchain could soon be a "Game changer" for aerospace, reiterating comments made in 2017 about the technology's ability to guarantee authenticity.
Hyperledger Fabric has continued to see multiple implementations through 2018, many of which have come in the form of IBM Blockchain, a suite of services for that help enterprises implement so-called distributed ledger technology.
While some sectors of the global economy voice doubts about blockchain's actual potential effectiveness for business, Accenture nonetheless remains buoyant.
The firm released a report in June concluding that 86 percent of aerospace and defense companies will adoptt the technology within three years.
Accenture, Thales to Debut Blockchain Tool for Aerospace Supply Chains
Published on Jul 16, 2018
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.