14bis Supply Tracking Completes First Deliverable With USAF

Award-winning startup, 14bis Supply Tracking, formerly SafeFlights, was founded to improve safety in the aerospace and defense industry by ensuring transparency, blockchain-based security of digital and physical asset management, and full cycle verification of immutable provenance of aerospace parts. The additional benefit of this streamlined blockchain process is an increase in safety, assurance of legitimate products being used and a reduction in administrative costs.

A Techstars company, 14bis Supply Tracking was accepted as a presenter at the 2019 International Paris Air Show to be held from June 17-23, 2019. In their press release dated June 6, 2019, 14bis Supply Tracking announced they are completing their “first deliverable to the U.S. Air Force, providing them with secure asset tracking and data analytics to speed decision-making and improve asset care.”

Immutable blockchain record-keeping will allow for unalterable reports and documentation, clean data, and interoperability with software systems for streamlined data porting. In essence, the old way of paper trails is obsolete.

Why is the blockchain-based supply chain so important?

The aerospace and defense sectors will have a steadily growing demand for Maintenance Repair and Overhaul (MRO). As such, they are faced with handling product options, counterfeit parts, questionable provenance for materials, and other issues, like authenticated audits for materials already in house or in transit.

In their statement, it is estimated that it costs $48 billion globally per year to maintain paper-based administration of commercial costs. Billions of dollars are lost because of duplicate inventory or counterfeit parts, which ultimately affects the integrity of products being built.

According to Warren Katz, Managing Director of the Air Force Accelerator Powered by Techstars, “blockchain will save billions of dollars of administrative labor, reduce errors in mis-identification of parts, flag counterfeit parts, increase the value of otherwise untracked parts, and enable disparate IT systems to exchange data seamlessly.”

Through proprietary blockchain technology, 14bis Supply Tracking is proving itself to be a leader in auditability-on-demand from raw materials to the graveyard. As for those awards, 14Bis earned a position in the 2018 Air Force Accelerator Powered by Techstars, and is a recipient of an AFWERX Special Topic SBIR Phase II for accelerated delivery of commercial products to Air Force operational units. They were also one of three winners selected among 318 participants for the Aviation Blockchain Challenge hosted by software company, SAP, and Lufthansa Airlines.

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