SAE Update - January 2022 - 2
SAE NEWS
Blockchain can save lives
By Raman Venkatesh, Chief Operating Officer,
SAE International
From the early days of the cryptocurrency,
bitcoin has been steadily growing and now
has become somewhat mainstream, with
even a recently launched exchange-traded
fund (in addition to several trading
platforms and financial instruments). With
this rapid growth, it should be no surprise
that financial technology ( " fintech " )
became a pioneering application of
blockchain; it is estimated that over 8
million Americans own bitcoin or other
cryptocurrencies, making it the most
popular application of blockchain
technology.
But as we often see, the most popular
uses of a technology are not always its best
uses-that is, if you define " best " as saving
human lives. The potential for blockchain's
inviolable transaction record has major
applications in a world that is increasingly
in need of reliable supply chains. The
market for spurious or non-standard spare
parts-from the disorganized dark markets
to surprisingly well-organized global
networks-is large and growing. This
encompasses every industry imaginable,
whether you are making airplanes with an
over $100 million price tag or low-cost
shaving razors with a $1 replacement blade.
Wherever there is sizable value to be
captured, there is incentive for aftermarket
sales and service to develop, which
2
January 2022
Raman Venkatesh, Chief Operating Officer, SAE International
ultimately atrophies into market segments
with questionable parts and provenance.
Of course, the problem of a nick while
shaving in the morning from a poorly
manufactured blade isn't quite the same as
having a faulty angle-of-attack (AOA)
sensor in a major commercial jet aircraft.
Somewhere between this vast spectrum is
passenger automobiles. If you spent over
$75,000 on a car, then a $30 part vs. a $100
part could be the difference between being
annoyed by frequent visits to the repair
shop versus the smooth ride that you
bought the car for in the first place. The
contractual system of representations and
warranties that exist in different markets
attempts to assuage the customers but, in
UPDATE
SAE Update - January 2022
Table of Contents for the Digital Edition of SAE Update - January 2022
SAE Update - January 2022 - Cov1
SAE Update - January 2022 - Cov2
SAE Update - January 2022 - 1
SAE Update - January 2022 - 2
SAE Update - January 2022 - 3
SAE Update - January 2022 - 4
SAE Update - January 2022 - 5
SAE Update - January 2022 - 6
SAE Update - January 2022 - 7
SAE Update - January 2022 - 8
SAE Update - January 2022 - 9
SAE Update - January 2022 - 10
SAE Update - January 2022 - 11
SAE Update - January 2022 - 12
SAE Update - January 2022 - 13
SAE Update - January 2022 - 14
SAE Update - January 2022 - 15
SAE Update - January 2022 - 16
SAE Update - January 2022 - 17
SAE Update - January 2022 - 18
SAE Update - January 2022 - 19
SAE Update - January 2022 - 20
SAE Update - January 2022 - 21
SAE Update - January 2022 - 22
SAE Update - January 2022 - 23
SAE Update - January 2022 - 24
SAE Update - January 2022 - 25
SAE Update - January 2022 - 26
SAE Update - January 2022 - 27
SAE Update - January 2022 - 28
SAE Update - January 2022 - 29
SAE Update - January 2022 - 30
SAE Update - January 2022 - 31
SAE Update - January 2022 - 32
SAE Update - January 2022 - 33
SAE Update - January 2022 - 34
SAE Update - January 2022 - 35
SAE Update - January 2022 - 36
SAE Update - January 2022 - 37
SAE Update - January 2022 - 38
SAE Update - January 2022 - 39
SAE Update - January 2022 - 40
SAE Update - January 2022 - 41
SAE Update - January 2022 - 42
SAE Update - January 2022 - 43
SAE Update - January 2022 - 44
SAE Update - January 2022 - 45
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