KPMG Canada shares positive thoughts on the transparency, accountability and security that Blockchain has in the Defence sector. According to Grant McDonald, Industry Sector leader for Aerospace and Defence at KPMG Canada, Blockchain has humongous applicability in the Defence sector and was quoted saying, “When one better understands how Blockchain can facilitate complex transactions, the benefits of applying them to the aerospace and defence industry comes in to focus.”
As per the KPMG Canada division, the parts and materials used in Defence can be tracked with Blockchain technology. This will assist in determining origins and preventing forgeries. The weapons can be tracked right from the production stage to the delivery stage, thus making sure of the technology’s presence in the entire supply chain.
Mr. McDonald adds, “This is achieved by embedding sensors, reporting processes and Internet of Things technologies at every step to monitor and report where its materials were sourced from, when and where it was manufactured, how it was transported and stored, and any repairs and maintenance it has undergone.”
Grant concludes commenting, “More than simply enhancing the speed, efficiency an dsecurity of transactions, Blockchain can increase transparency and contribute to the industry’s higher purpose of safeguarding Canadians and our allies.”
Blockchain is navigating its path from ensuring the genuineness of wine, restoring marine insurance ledgers, tracing artist royalties and upping the transparency of supply chain to numerous other industries, which for sure is a good sign for the global industrial market.