Boeing Announces Interest In Blockchain Tech For Massive Future Project

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Several movements have already taken place in the world of cryptocurrency, and also in the infrastructure behind these crypto coins: blockchain. Investment firms, banks, and other financial organizations have been showing increasing interest in cryptocurrencies, and now, yet another major player in the business world seems to be ready to jump aboard the cryptocurrency train.

On July 17, 2018, Boeing, the world’s largest and most successful aerospace company, announced their interest in Blockchain technologies. Banking solutions, mobile applications, servers, and even some games already use Blockchain in different ways. Boeing plans to take things one step further and use blockchain in aerospace traveling solutions. Not only is this a significant step for blockchain, but it is also a substantial change in the transportation industry.

Boeing Reveals Plans To Incorporate Blockchain In Boeing NeXt

Boeing has revealed this week that they are planning to lead the world into the future of travel and aerospace. The press release announced the launch of a new organization called Boeing NeXt. The partnership is a result of a collaboration between Boeing and SparkCognition, who identified the opportunity presented by blockchain. 

Even though blockchain hasn’t been used for this type of project in the past, Boeing NeXt believes that this is the first step towards the future of traveling and transportation. 

According to the SparkCognition CEO, Amir Husain, the project is estimated to cost around $3 trillion. Husain stated that Boeing NeXt’s urban aerial mobility opportunity “will lead to the creation of the largest new market in our lifetime.”

SparkCognition is one of the leading companies specializing in artificial intelligence solutions. Together with Boeing, the Boeing NeXt organization will utilize state-of-the-art aerospace technologies, with advanced artificial intelligence (AI) solutions. This, in turn, will lead to autonomous aircraft that would be able to deliver packages and serve other purposes unmanned. The blockchain technologies that are being developed will enable the project managers to keep track of all said aircraft. 

Starting Small, Aiming Big

It is still too early for the Boeing NeXt organization to pull out all the stops and produce “air taxi” services. This, however, does not mean that they are not working hard to get their first prototype project going. A publication by Post & Parcel explains that the company will first focus on autonomous drone solutions.

In the early stages, these drones will mainly serve a purpose in the delivery of parcels in local communities. The organization has revealed that they are planning to use a standardized programming interface. The idea is to provide futuristic solutions focused not only on package delivery but also industrial inspection and other commercial solutions. 

Their initial focus will be to use the AI expertise from SparkCognition to develop “traffic corridors.” These “corridors” will provide the autonomous drones created by the organization with routes to be followed. Through this implementation, transportation of packages will be more secure. This will also pave the way for future plans, such as unmanned autonomous aircraft that could provide transportation for the public. 

How Blockchain Is Advancing The Transportation Industry

While Boeing NeXt will be the very first organization to allow blockchain technology to meet aerospace solutions, the transportation industry has already started to implement this technology into different systems. A recent publication by TMW explains that they are currently implementing blockchain in various areas of transportation. This includes invoicing and the settlement of invoices for commercial transportation services. Proof-of-delivery, bidding and awards, fuel tax reporting, and many other areas of transportation are targeted for receiving blockchain solutions.

Another example of blockchain use in transport is the Blockchain In Transport Alliance (BiTA). This organization has been established primarily to introduce companies in the transportation industry to the ways that blockchain can streamline their operations. The alliance has already seen increasing interest among businesses and institutions that specialize in transportation solutions. 

Amna El Tawil is an experienced journalist with a strong background in financial writing. She is a cryptocurrency enthusiast and has been writing about digital currencies since 2016. When not writing, Amna can probably be found in bed with a book cuddling with her beloved Siberian Husky.

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