Aerospace suppliers look to blockchain for parts tracking

Aerospace suppliers are starting to explore blockchain technology to keep tabs on their supply chain, potentially tracking parts such as that at the centre of a Southwest Airlines accident last month. While blockchain is best known as the digital transactions technology that underpins cryptocurrency bitcoin, it can also be harnessed to track, record and transfer assets across all manner of industries, potentially smoothing operations, cutting costs and improving cash management. The challenge faced by the aerospace industry in keeping track of tens of thousands of different parts came to light when it emerged after last month’s fatal explosion that some airlines do not keep track of the history of each individual fan blade within an engine. <br/>