Blockchain in Aerospace & Defense

For an aerospace and defense industry that relies on complex global supply chains and securing sensitive information, distributed ledger, also known as “blockchain,” technology offers solutions. Blockchain is already being used widely in financial and other sectors and could address key priorities for the A&D industry, including supply chain provenance, cyber security, and overall risk mitigation. As blockchain technology continues to evolve, A&D should develop a common approach to blockchain governance, standards, and our participation in the ecosystem.

At it’s core, blockchain is a system that maintains and records data so that multiple stakeholders can confidently share mutual access. It operates by recording and storing every transaction across the peer-to-peer network in a cryptographically-liked block structure that is replicated across network participants. Every time a new data block is created, it is attached to the end of the existing change, formed by all previous transactions, creating a chain of blocks – the “blockchain.” This allows a blockchain to contain a record of all transactions and data recorded in its chain since inception.