Blockchain not just enables but encourages Digital Transformation of Industry
Digital transformation is being raced into by companies – and we’re not exaggerating. In fact, Lockheed Martin has developed a successor to the SR-71 Blackbird and it goes Hypersonic.
In case you’re wondering, Hypersonic applies to speeds above Mach 5, or five times the speed of sound (3,836 MPH). The SR-71 cruised at Mach 3.2, more than 2,000 mph.
Referring to detailed specifics of company design and manufacturing, Jack O’Banion, a Lockheed vice president, said a “digital transformation” arising from recent computing capabilities and design tools had made hypersonic development possible.
“We couldn’t have made the engine itself—it would have melted down into slag if we had tried to produce it five years ago,” O’Banion said. “But now we can digitally print that engine with an incredibly sophisticated cooling system integral into the material of the engine itself and have that engine survive for multiple firings for routine operation.” The aircraft is also agile at hypersonic speeds, with reliable engine starts, he said. A half-decade before, he added, developers “could not have even built it even if we conceived of it.”
By 2019, analysts expect 1.9 trillion dollars to be spent on digital transformation. Much of this transformation is focused on the company itself or possibly some suppliers or customers.
Blockchain however has had an interesting effect on companies. They realize the power of a digitally encrypted immutable distributed ledger can make them more efficient and can more importantly allow them to benefit from smart contracts. In other words, the money becomes intelligent.
In one example, companies have an opportunity to use blockchain to combine their loyalty programs giving their customers greater benefits with limited additional investment from each company.
More concrete is the Blockchain in Transportation Alliance. They made big news today because Warren Buffet’s BNSF just joined this group of over 200 companies to digitally transform the shipping and logistics market.
Blockchain is very lucky to be the right technology at the right time. As companies are looking for ways to become more efficient and to develop new models, they can reach out to competitors and partners to find ways they can all benefit.
The era of Digital Transformation of Industry has arrived.
Learn more next week at the Blockchain Event Feb 15-16th in Fort Lauderdale, FL. Hear from IBM and the ICO architect of Ethereum and tech visionary Jeff Pulver.
Your’s Truly will be moderating a can’t miss panel on Friday, Feb 16, ICOs: The Next Wave of Investing.