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- Unlock the Sky: How Blockchain Nearly Revolutionized Aerospace and Why It Stalled
Unlock the Sky: How Blockchain Nearly Revolutionized Aerospace and Why It Stalled
Blockchain's Boundless Potential in Aerospace
Welcome to the Eleventh Edition of Airplane Mode Weekly Newsletter, your gateway to cutting-edge aviation insights - thank you for joining us. As you walk through this edition, you'll encounter a poll that captures the pulse of NBAA (Results Shown Next Week). Transition into the digital frontier with a dive into Blockchain's prowess in parts and maintenance tracking. As the mystery of MH370 continues to loom, we bring you the most recent updates, knitting threads of known realms into the fabric of the enigmatic (undecided). Wrapped up by the Book of the Week (Can’t Miss) "Start With No" by Jim Camp, a book that’s honestly a negotiation masterclass and has inspired some of the best negotiators you’ve never heard of. You are joined by over 300 aerospace business owners, investors, executives, managers, and professionals across our platforms!
Pulling from the wisdom of "Start With No" and Patrick Bet-David, we've crafted a no-nonsense negotiation guide for navigating talks with Billion Dollar (and Hundreds of Million Dollar) Companies. No more navigating a maze in high-stakes discussions. Hit the link below for your free guide, stock up on real-world strategies, and start steering negotiations your way. Exclusively in Airplane Mode.
👉 Many claim to understand the aviation workforce challenges, and have made their opinion very known, yet few have actionable solutions. Do your insights align with the prevailing thought, or do you have a different perspective? Take a moment to cast your vote in the poll below on which initiative you believe will truly address the workforce challenges in aviation.
Live Results will be shown after making selection. 👈
Blockchain - It Could Be Different
It was January 31, 2000. An aircraft ascended, nestled against a backdrop of blue, embarking on what should've been another routine journey from Puerto Vallarta to Seattle. For Alaska Airlines Flight 261, the familiar hum of the engines should've been an assuring lullaby for its 83 passengers, including the likes of Jean Gandesbery, a celebrated author, and Morris Thompson, a former commissioner for the Bureau of Indian Affairs in Alaska. But as the Earth’s surface faded away, so too did the flight's ordinary narrative.
The flight’s two pilots, Captain Ted Thompson and First Officer William "Bill" Tansky, boasting a combined flight experience of over 25,000 hours, suddenly found themselves grappling with a jammed stabilizer. High above the glinting waves of the Pacific, with their control systems refusing cooperation, these pilots, these everyday heroes, fought to reclaim control. Their efforts, tragically, were in vain. But the catastrophe of Flight 261 isn’t just a mournful memory. It’s a stark reminder of the critical importance of meticulous maintenance and the unforgiving consequences of oversight. As we jump into the revolutionary promise of blockchain in aviation, remember the legacy of Flight 261. In a world where the impossible seems just a heartbeat away, as reminded by the events in Israel as of late, let it serve as a reminder that we need to strive for better even when their are roadblocks, profitability may suffer, and that we never let complacency take the pilot’s seat. Blockchain is the way of the future, it just hasn’t been realized by all.
What is Blockchain?
Blockchain is a decentralized digital ledger designed to record transactions across multiple computers, ensuring each entry is secure, transparent, and immutable. Within the aviation industry, this system's merits extend beyond data security and ticketing efficiency. It holds significant promise in components manufacturing and supply chain management. By providing an indisputable record of each part's origin and maintenance history, blockchain can enhance traceability, reduce counterfeit components, and optimize the supply chain, making way for a more reliable and efficient aviation future.
I will include curated links below this article, but I would like to point out that Blockchain technology had the vote of %86 of Aerospace & Defense companies who responded to a 2018 survey, and said they would implement the technology within three years of the survey. Where did the progress go? We will let you speculate on what held up such an endeavor - but it should be noted that blockchain didn’t go anywhere, it is the way of the future, and does offer huge gains in safety and reduction in maintenance costs over time.
The below events were tragic and Airplane Mode means no disrespect to the loved ones of those aviation accidents. We feel it relatively safe not to speculate on the prevention of the below accidents, only to point out that there is potential they could have been avoided if blockchain technology were available at the time. Details are included below each incident with exactly how blockchain could be implemented. As the “powder keg” of PE and other monies picks up rolling into and out of Q4 2023 - I suspect blockchain will be back in the news before too long - albeit, I’m no Nostradamus, but I’ve been right before.
Events:
Air France 4590: Blockchain traceability preventing improper maintenance, averting runway debris.
Component Lifecycle: Each airplane part has its own "life story" on the blockchain.
Maintenance Oversight: Alerts or flags for components needing attention.
Decentralized Verification: Multiple parties can confirm the quality and status of parts.
Transparency: All stakeholders can view maintenance history and part origins.
Alaska 261: Blockchain verification catching jackscrew maintenance oversights.
Regular Audits: Automated checks to ensure maintenance occurs on time.
Certified Entries: Only certified tasks are logged as complete.
Shared Accountability: Multiple eyes on the same data reduce lapses.
Notification System: Alerts for pending or missed maintenance tasks.
China 611: Blockchain logging ensuring structural repair quality.
Detailed Repair Logs: Every repair detail, no matter how small, is recorded.
Verification by Peers: Other experts can review and confirm repair quality.
Historical Context: Past repairs are always considered in new ones.
Decentralized Trust: Trust is built as more parties validate the repair.
Qantas 32: Blockchain traceability identifying component defects.
Component Source Tracking: Know where every part came from and its history.
Red Flagging System: Potential defects are flagged across the supply chain.
Decentralized Data: Everyone in the supply chain has access to the same data.
Proactive Alerts: If one part is defective, all similar parts are checked.
Sources and Additional Reading on Blockchain in Aviation:
How to Negotiate with Billion Dollar Companies
A free guide for your next sit-down.
Click the link below to get instant access!
Book of The Week (or Decade)
This book has inspired some of the best of the best. Chris Voss, legendary FBI Hostage Negotiator that is commonly found in the deal maker and shaker circles, has admitted on a number of occasions that this book has shaped part of his thesis on negotiation.
Everyone teaches that you want to get a yes in a deal. It’s just not true. When you read why - you’ll understand that it’s much more important to get a no!
If you want to start winning, and winning bigger and more often, you have to start reading - it’s as simple as that.
Ace Update
Ace doesn’t start wars, he ends them!
“You can have peace. Or you can have freedom. Don't ever count on having both at once.”
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