GI Aerospace is set to launch a platform that is based on Blockchain technology in the first quarter of 2019. TARA is its name, and it will bring about data security and integrity. This software can be said to be the industry’s innovation whose role is to maintain the records of aircraft and the parts they are composed of.
First Blockchain-based Platform in the Aviation Industry
The San Francisco-based company said that they are one of the first companies in the world to employ Blockchain technology. They acknowledged that digital technology had been hyped a lot, but then, very few industries are adopting it to facilitate their processes. Nevertheless, the Aviation industry is getting a real-life implementation of the Distributed Ledger Technology (DLT).
In the same vein, there are expectations that aircraft operators, asset managers, MROs, lessors and regulators of the industry will adopt the system after its pilot phase. These are people that will be able to determine who gets access to these records and even narrow down to what part of the record can be accessed.
Blockchain-based Platform to Store Aircraft Records
The said Platform, TARA, will be used to store records about the lifecycle of an aircraft. Information will be entered from the TARA’s software and then stored on the Blockchain. Also, it will have digital signatures to ascertain who made changes to the data stored.
Hadi Mohamed Shakir, the chief technology officer of GI, revealed that the platform aims to bring about data security and integrity. Regarding integrity, TARA will monitor the events on the platform to determine who does what and when. These actions will be visible to all stakeholders, therefore bringing about transparency even when the data is kept private.
Blockchain’s Adoption in Industries
The Banking, Automotive, Food, Health, and Gaming industries have adopted Blockchain technology. Each strives for data security and transparency through the use of this modern technology. A US-based hospital, for instance, is storing the records of patients on Blockchain. It will allow information to be securely shared with medical centres that may need it.
The telecommunications industry is also a part of the movement to encourage the use of Blockchain technology. This is because Telefonica, a Spanish telecommunications company has adopted the platform to trace international phone calls. Call operators will have access to the same data stored on Blockchain which brings about transparency.