Blockchain Technology, Is this the New Space Age?

Blockchain Technology - Is this the New Space AgeMy first flight experience was at age 15, when a friend of my father gave me a ride in then an Indian Airforce jeep launched- open canopy – makeshift glider – courtesy of Ahmedabad Glider and Flying Club (AGFC). The adrenaline, the rush, and the sheer joy of experiencing the wind blowing past my face was THE impetus that hooked me to the joy of flying. Since then listening about Apollo – 11 moon landing on the radio, and a near loss of Apollo – 13 were the major events that have shaped my scientific curiosity in anything flying and space. Then albeit, a B. Tech. in Aeronautics (From IIT, Mumbai), a Ph.D. in Mechanical/Aerospace Engineering, and nearly three decades of aerospace/defense research experience convinced me that I had the good fortune of contributing to history’s greatest scientific renaissance period – the space age.

Though, that was until, I came across the field of Blockchain and its myriad of applications a few years back. My partner, Nirav Shah and I were evaluating various fundamental innovations that drive the Crypto prices and discovered the power of Blockchain technology – that now I am convinced that is as exciting, as trailblazing, and as revolutionary as space technology. The space innovations have transformed the human existence for better. It has impacted every facet of our lives: from simple miniaturization and incredible speed of microchips, to medical innovations, to simple gadgets in a standard kitchen. Similarly, I strongly believe that Blockchain age is the new ‘Space Age,’ that will revolutionize the way we bank, write contracts, deliver health care, and much more.

Let’s review some direct applications of Blockchain technology to space explorations.

  • In a recent grant proposal to NASA, University of Akron is proposing to use Blockchain technology to enhance space communications. Research into deep space is limited by the inordinate amount of time it takes for command signals to reach exploration vehicles. The speed at which Blockchain technology can deliver signals immutably and accurately is expected to spur tremendous growth in space explorations. In fact, an attendant advantage of Blockchain technology is that it will provide a decentralized and secured platform for amassing and analyzing massive amount of space data in a relatively short time. NASA plans to use Ethereum Blockchain platform for this application.
  • A major OEM (Original Equipment Manufacturer), either GE or Boeing, uses thousands of manufacturing part suppliers in their aviation products. These parts are not only manufactured in dozens of countries, but are more likely than not, separated by designers and decision makers by thousands of miles. These parts must fit seamlessly to produce a full – workable and flying machine. Also, each of the parts has to be traceable to the original designer or the manufacturer in the event of a catastrophic failure of the airliner. Blockchain technology can tag, identify, and provide an immutable ledger of ALL manufacturing activities that may have been undertaken to produce that part.
  • Two innovations, Blockchain technology and 3D printing are expected to revolutionize Department of Defense’s procurement paradigm. Blockchain technology provide that immutable document or design that can be used by a 3D printing machine to manufacture a part anywhere in the world, on the ship, or in space. It is no longer a requisite to carry either thousands of small ‘Cogs,’ for the ‘Wheel,’ or wait for it to be delivered. If a military plane shuts down in a remote area for the want of a small part, a Blockchain document and a 3D printer can manufacture that part in a relatively short time – saving hundreds if not thousands of dollars in manufacturing and procurement time cycle.

Recent ICOs in Aviation:

Aeron is one of the Blockchain start ups that focuses on aviation safety. In particular, they exploit the immutability, and transparency features of the technology to provide solutions to minimize the mid-flight collisions, failure due to poor maintenance supported through forged documents and accidents caused by pilot’s drinking or drug problems. There are a few other ICOs that have very ambitious plans, such as, Astro mining, Astrcoin that profess to deliver riches through mining on Asteroids, and ownership of one of thousands of asteroids in the outer space.

The Blockchain technology is just finding its use in aviation, aviation supply chain, and aviation manufacturing. As a result, it is imperative that investment decisions in these technologies are made prudently and wisely. At Platinum Trading Institute (PTI), our traders and researchers track the new coins and/or tokens for each and every use of the Blockchain technology and provide useful investment information to the clients.

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The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.

By | 2018-06-15T11:43:07+00:00 June 6th, 2018|Crypto|0 Comments

About the Author:

Dr. Jayesh Mehta
Nationally recognized Advanced Technology leader with over 25 years in the Aerospace Industry. Sustained track record of providing innovative solutions to advancements in the gas turbine and alternate energy fields. Dr. Mehta is an innovator and a passionate financial analyst who has turned his attention now to intricate world of FOREX and Crypto trading education. Academically, Dr. Mehta shares Mr. Nirav Shah’s passion for developing algorithmic strategy based trading approaches for financial instruments applied to FOREX, Crypto, and Equity markets. As a part of his MBA in financial engineering at Xavier University, Dr. Mehta had developed and published several peer reviewed papers on Black-Scholes options models in flagship financial journals.

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