Accenture Collaborates With A&D Major Thales To Create Blockchain-Powered System

Ireland-based professional services and management consulting giant Accenture has collaborated with French aerospace and defense (A&D) major Thales to create a blockchain-powered system. The new solution, was introduced at the Farnborough Air Show, can anchor and accelerate forms in A&D supply chains far and wide.

According to the report the framework was designed under digital innovation project of Thales. The platform applies Hyperledger Fabric, a hardware designed by Linux-backed blockchain program Hyperledger, and bases on the distributed ledger technology (DLT), internet of things (IoT), and other growing technologies.

The test sample will contribute A&D industry participants increase and develop parts monitoring in the supply chain. Mark Walton-Hayfield of Accenture Digital in London told Forbes the network would reduce the expenses, affirm validity, and provide more exact recalls of defective parts. The platform will enable providers, manufacturers, and intermediaries to gain from a united and shared image of the supply chain

Accenture revealed that a prevailing 86% of A&D firms want to combine blockchain into their framework nearly from three years.

A week ago, it has been published that Accenture had entered a blockchain consortium operating in the insurance market named Institutes RiskBlock Alliance.