Boeing to use blockchain to protect GPS receivers

Let's figure out how blockchain can make flights safer
18 December 2017   1448

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. 

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   282

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.