The U.S. Air Force Institute of Technology (AFIT) has launched an educational tool to teach people Blockchain technology. This is an interactive application that can be installed on a smartphone or computer, and the application has been paired with tutorial videos. The tool and videos can be used to teach in a business meeting or classroom.
Educating People on the Application of Blockchain Technology
The essence of the tool is to educate graduates on the application of Blockchain technology. The school specifies that this is a tool that can be used to monitor the supply chain to combat fake products. For instance, the current method of managing information makes it easy for people to resell old parts as new ones. This could lead to a break down of a machine when these parts are incorporated into them.
Therefore, one way to combat this fraud and bring about transparency is to track how these parts move from the warehouse, suppliers, retailers, to the final consumer. If that’s possible, it will foster trust among those involved in the supply chain. To achieve this, transactions that occur between parties can be recorded on a secured platform such as Blockchain.
Blockchain to Aid in Tracing Products Along the Supply Chain
The Blockchain solution will help to keep track of parts that are transported from one region to be assembled into a product in another region. These transactions will be stored permanently, and each participant of the supply chain will be able to access it. This is usually complex data that the current information systems have difficulty in handling.
On the other hand, these people need to understand what Blockchain is before they can appreciate its capabilities. Hence, a tool to educate supply chain management professionals was developed. It will help learners to know how Blockchain uniquely differs from the traditional database.
Reducing the Number of Fake Devices in Circulation Using Blockchain
To also trace the supply chain, Seagate in November collaborated with IBM to track its hard drives. The company aims to reduce fake hard drives that are in circulation and in that regards, has chosen to use IBM Blockchain platform. These hard drives will now have unique IDs to aid their traceability along the supply chain.
The Malaysia Automotive Institute has also decided to keep track of spare parts using Blockchain. It will help to circulate original parts and allow members of the public to determine the value of this equipment. As a result, their market price will be determined.