Blockchain is a distributed digital ledger that records transactions that automatically encrypt every 10 minutes in a process called "hashing." Each hash completes the latest block in the blockchain. This technology was originally intended to secure Bitcoin, and later other cryptocurrency transactions, but its adoption and application are expanding.
Image courtesy wix.com
This ability promises to vastly improve product integrity and financial integrity and security in the digital marketplace. You could safely say we are entering an era of the Internet of trust.
The rest of this article will discuss what is meant by some of the terminologies...
Last Saturday, the CoinTelegraph reported on the Air France KLM / Blockchain initiative. The global air transport company is considering using the Blockchain to track its maintenance and repair. This will elevate “the airline’s ability to maintain its in-service airplanes in tip-top condition.”
How is this going to work?
James Kornberg, Air France KLM business unit director of innovation, said his team is studying a clear business case for blockchain use to enhance maintenance processes and workflows.
Kornberg cautions airlines to digitize their data before making the leap to the blockchain.