One of the best ways to understand blockchain, appreciate its potential, and getting into its some amazing use cases.
Think of everything you've used today. How did it get here? Today's supply chain is a complex network of relationships, scheduling, systems and data. Even the smallest error can lead to delays that have tremendous ripple effects.
By digitizing and automating paperwork across supply chains, Blockchain helps shippers, ports, customs services, logistics providers, banks, insurers, and others better manage documents across organizations and borders - all in real time and with absolute precision.
When something goes wrong with a complex "Systems of systems" such as an aircraft, it's important to know the provenance, through supply chain management, of each component, down to the manufacturer, production data, batch, and even the manufacturing machine program.
Blockchain holds complete provenance details of each component part, accessible by each manufacturer in the production process, the aircraft owners, maintainers, and governement regulators.
Benefits in this category include:
- Increased trust because no single authority "owns" the provenance information.
- Increased efficiencies lead to reductions in time taken to diagnose.
- Specific recalls rather than cross fleet/generic.