Business Wire IndiaThe European Union Aviation Safety Agency (EASA) has awarded the contract to conduct a research project on assessing blockchain technologies for the management of approved aircraft parts and components to FPT Software Europe. The project, named VIRTUA (Digital Transformation – Case Studies for Aviation Safety Standards – Virtualisation), employs an alliance of organisations, including FPT Software, the International Air Transport Association (IATA), SkyThread, and PwC France. It aims to evaluate the blockchain capacity to improve the safety management processes used by aviation authorities, operators, and a variety of industry stakeholders.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230821967747/en/
(Graphic: Business Wire)
The project will assess the benefits and constraints of blockchain implementation, considering the different stakeholders involved in the management of aircraft parts and components. It will investigate different types of blockchains and different use cases for their implementation along the lifecycle of approved parts and components. If the benefits are confirmed, the project will assess the main changes to be introduced in regulations, standards, and working processes, as well as the preparation of guidelines and supporting materials for regulatory evolutions and the deployment of the related solutions.
"The implementation of blockchain technologies for the management of approved aircraft parts and components could impact the whole lifecycle of certificates, from their issuance by production organizations to the changes introduced by design or maintenance organizations," said Nick Careen, IATA’s Senior VP Operations, Safety and Security. "We believe that this project will provide a comprehensive vision on how blockchain solutions could contribute to addressing the issue."
"In aviation, the complexities of new technology implementations often result in delayed access to the benefits of innovation. But blockchain holds the power to enhance efficiency, simplify transactions, and improve safety,” said Inigo Arsuaga, FPT Software’s Aviation Digital Transformation Expert. “With the VIRTUA project, there will be a roadmap for blockchain that guides the sector to fruitful results from implementing it,” he added.
The project is expected to contribute significantly to the improvement of safety management processes in the aviation industry and is aligned with EASA's mission to promote the highest common standards of safety and environmental protection in aviation.
With years of industry experience and an extensive partner network with major airline giants in Europe, the United States, and Vietnam, FPT Software has been contributing to transforming the global aviation industry through disruptive digital services and solutions. In Europe, the company has established a solid presence in eight countries, serving nearly 100 organizations.
About FPT Software
FPT Software, a subsidiary of FPT Corporation, is a global technology and IT services provider headquartered in Vietnam, with $803 million in revenue (2022) and over 27,000 employees in 28 countries.
The company champions complex business opportunities and challenges with its world-class services in Advanced Analytics, AI, Digital Platforms, Cloud, Hyperautomation, IoT, Low-code, and so on. It has partnered with over 1,000+ clients worldwide, 89 of which are Fortune Global 500 companies in Aviation, Automotive, Banking, Financial Services and Insurance, Healthcare, Logistics, Manufacturing, Utilities, and more. For more information, please visit https://fptsoftware.com/
View source version on businesswire.com: https://www.businesswire.com/news/home/20230821967747/en/
