Block Chain in pure technical definition is a "distributed, decentralized, public ledger".
In common terms, it is nothing but a set of digital information (aka blocks) stored in a public database (aka chain). It is a new means of record keeping, a digital ledger to keep a record of digital transactions. What makes it unique is that the ledger is shared and hence maintained and verified by several sources simultaneously. This ensures data integrity and avoids situations where data is compromised because the single source of the information is corrupted, manually altered or hacked.
Conventional data engines and enterprise systems also store information in a database which brings the questions
Both BlockChain and Conventional Databases have their strengths and weaknesses. We cannot conclude that one of them is a winner because they are designed for implementation of different category of systems.
A block chain based end to end life cycle tracking system for airline parts.
One of the largest airline manufacturer in the world.
In the airline manufacturing industry tracking of the lifecyle of each part starting from a nut is very important. The information about when the part was manufactured, by whom, when it was installed and when it came for servicing or repairs etc have to be tracked.
There is no fool proof and immutable mechanism to store the life cycle tracking of the parts used in an aircraft. There is no way to get a reliable information on the history of a part starting from it original manufacturing till the current date. This causes lack of clarity to perform preventive maintenance or analyze any airline crashes or any other investigation.
MacAppStudio created an immutable digital ledger in the form or a private block chain for public use within the airline organization. During each stage of the life cycle of the part, it will be scanned and the action performed on it along with other details like the date /time and the worker details will be documented as a block. Each action on the part will be a block on the chain and new actions will be added to this continously.
The solution provided created a huge level of transparency and accurate and immutable tracking of airline spare parts. This solution greatly helps in assuring quality of the spare parts and the safety of air travel all over the world.