Much progress gets made in the implementation and use of blockchain, and it is always a positive to see when actual use case progress can be shared.

Digital Innovation Group Holdings, a GA Telesis™ company (DIG) is currently leading the Aviation & Aerospace Working Group, and has been working for the last 18 months focusing on our First Phase initiative of implementing the use of blockchain in the prevention of payment fraud.

This is a short update of progress in this regard.

|| First Phase

DIG has been working for the last year in partnership with AWS to complete, deploy, and implement our FraudBlock™ Enterprise API Service in the AWS Marketplace, the premiere platform technology from DIG for the mitigation and elimination of payment fraud at an enterprise level.

In February of this year, this initiative was completed. This was followed by a press release by AWS announcing this cooperative achievement.

FraudBlock™ has now safely managed over $11 million in vendor payments to date, and the FraudBlock™ Enterprise API Service can be found at
https://aws.amazon.com/marketplace and searching “FraudBlock.”

FraudBlock™ is also the core technology currently powering Blockrails™, a real-estate payment fraud solution application designed and built for REALTOR® use in protecting homebuyer payments.

At its core, FraudBlock™ provides a patent-pending solution that utilizes artificial intelligence and machine learning to detect and prevent fraud. At the same time, Blockrails™ combines the use of blockchain through Hyperledger Fabric™ in the secure sharing of account information between parties to ensure a safe and secure payment transaction.

Blockrails™ is live and can be found at https://www.blockrails.com. Blockrails™ is currently in program integration and implementation discussions with the National Association of REALTORS® for a late 2022 release.

Our goal at DIG is to see present discussions positively conclude by the end of Q3-22 to announce availability for REALTORS® in Q4-22

The above will then conclude the First Phase of our working group project efforts, having placed a core focus on the use of blockchain in payment fraud prevention in 2022.

|| Second Phase

Second Phase planning is expected to complete in Q4-22, shifting our working group focus to the use of blockchain in aerospace and aviation MRO services for parts and repair and service records provenance and authenticity. As the Federal Aviation Administration requires by federal law to have verified and documented origin and service record history for nearly every component of commercial aircraft, the necessity and value in the protection and safety of consumers and goods in flight become imperative.

Over the last 18 months, DIG has been in numerous discussions with emerging technology and blockchain stakeholders at Boeing, Honeywell, Collins, and more, each of whom has various blockchain initiatives currently underway.

These meeting and conversation efforts have been underway to lay the groundwork for the aforementioned Second Phase initiatives in 2023.

DIG, along with members of the A&A Working Group, will be seeking the planning, development, and initial production in 2023 of a holistically strategic solution that, while financially beneficial to its creators, will have broad industry application value and intrinsic value to the FAA, that the GBA can stand behind in an effort for its acceptance and use.

This concludes the GBA Aviation & Aerospace Working Group Update – July 25, 2022.

Credit: Jason Bennick, President DIG Holdings, LLC.