Boeing to use blockchain to protect GPS receivers

Let's figure out how blockchain can make flights safer
18 December 2017   761

Boeing filed a new patent that talks about aircraft manufacturing giant is looking at how blockchain can help protect in-flight GPS receivers. This is reported by the CoinDesk.

The application, released by the U.S. Patent and Trademark Office, the aircraft giant details an "onboard backup and anti-spoofing GPS system" that would be used if a plane's primary system becomes unreliable or nonfunctioning.

GPS "spoofing" is a practice by which counterfeit signals are used to effectively trick other receivers. Such attacks can be used to confuse a GPS receiver about the actual location of other objects. These simulated signals have been changed in such a way as to cause the recipient to misconstrue their location, considering it to be the one sent by the attacker. Because GPS systems work by measuring the time it takes for a signal to travel from satellite to receiver, successful spoofing requires that the attacker know exactly where his target is - so that the simulated signal can be structured with appropriate signal delays. GPS attacks can be extremely danger when aircrafts are the targets.

Blockchain data would be used as a backup record of information in the event that the anti-spoofing system detects potential danger.

The method further determines if the GPS signals, received by the GPS receiver, are spoofed GPS signals and, then, retrieves position data from the block-chain storage module if the GPS receiver is not receiving the GPS signals or is receiving spoofed GPS signals.

Boeing Patent File

The backup would store environmental information received from the GPS, allowing it to act as a failsafe to prevent pilots from getting lost by providing all of the information a GPS normally would. The system can be applied to any type of vehicle, both manned and unmanned, according to the application.

The blockchaing data would store environmental information received from the GPS. It is designed to to act as a failsafe to prevent planes to lost in the air. The system can be applied to any type of vehicle, both manned and unmanned. 

BlackRock to Consider Bitcoin Futures

World largest asset management firm created a workgroup to study the prospects of crypto-based futures
16 July 2018   67

Investment company BlackRock has formed a working group that should find out what benefits the world's largest asset manager can get from entering the cryptocurrency sector, despite the fact that previously its CEO had heavily criticized bitcoin. This is reported by Financial News.

The investment giant, whose assets amount to $ 6.3 trillion, created a team that included experts from various business areas. They must collect information about the cryptocurrencies, the underlying infrastructure and technology of the blockchain.

The working group, which includes investment strategist Terry Simpson, should find out whether BlackRock should invest in bitcoin futures.

Sources also reported that BlackRock is studying the experience of its competitors in this area and the potential impact of their actions on the company's business. The working group will report on the results of its research to senior management.

A spokeswoman for BlackRock reported that the company has been considering blockchain technology for several years, but declined to comment on the cryptocurrency.

The creation of a working group may mark a turning point in relations between BlackRock and cryptocurrencies. Last year, its head, Larry Fink, said that bitcoin is an extremely speculative tool, and the only reason for its popularity is its anonymity. "This is an instrument that is used for money laundering," he said bluntly.

Fink gave his comments even before the appearance of crypto-currency futures. At that time, he saw no opportunity for his company to enter this market.