Accenture and Thales decided to implement Blockchain Technology for improving security and speed up processes.

source: here

Accenture, Ireland based company specialized in providing management consulting and Technological Services and French aerospace and defense (A&D) major Thales have decided to connect with blockchain technology. That will be able to improve security and solve complex global supply chains supporting the Aerospace and Defence (A&D) industry.

The project based on Hyperledger fabric hosted by the Linux Foundation, the demo combines Blockchain, Internet of Things (IoT), distributed ledger technology (DLT) and few other innovative technologies.

John Schmidt, the head of Accenture A&D department stated:
"A & D has one of the biggest and complex supply chains in this situation 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. Used in combination with technologies like digital twins and digital threads, blockchain could ultimately be a game-changing innovation for this sector."

The model will help A&D industry players improve tracking of parts of the supply chain. The system prepared by with the help of blockchain and IoT will able to reduce cost, confirm authenticity and identify defective parts of the system.

According to previous researches of Accenture, 86 percent of A&D companies will implement blockchain technology to improve security and productivity by 2021.

Gareth Williams, vice president for secure communications and information systems at Thales UK stated:

"Identifying counterfeit and grey-market goods in the A&D supply chain can be challenging. Using blockchain in combination with crypto seals and physically unclonable functions allows you to build a trusted history behind parts. This demonstration builds on the strong relationship Accenture and Thales have created developing innovative digital solutions for a variety of industries."

That's really a good approach to implement blockchain technology because it provides more flexibility, transparency and good speed. Today's world is all about technology.

sources: here
www.accenture.com
www.thalesgroup.com

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