No matter what your role in operations, maintenance, reliability or asset management, imagine how much easier your life might be if you could access free, relevant, trust worthy asset information.
Sound too good to be true? It doesn’t have to be.
Blockchain technology can provide a robust data source, managed by the community that uses it and the technology now exists to make this a possibility. We would need to think and work differently, but through collaboration we can open the doors to a new way of thinking that can drive innovation and optimised decision making.
G. Willoughby, T. Ingram, T. Byrne, D. Smith, N. Rahman
The intent of this paper is to illustrate how the current paradigm of reliability information held by a small selection of companies who sell the information could soon be outdated. We believe that Reliability data ownership could be transferred by a collaborative, decentralized approach, with data sourced from the communities that use the data stored in a blockchain. The advent of blockchain as a shared, immutable ledger, has the potential to be the technology that provides the platform for this. Such a ledger can provide a new way of thinking about reliability data potential: Original Equipment Manufacturers (OEM’s) and users contributing data in a transparent manner, clear visibility of underpinning data continually evolving in a live database, self-checking across the community, data beyond the base of the bathtub, quality certification, storage of source information such as Failure Modes Effects Criticality Analysis (FMECAs), direct linkage into the Industrial Internet of Things.
This fundamental shift in approach could see a focus of practitioner held information, with trust held within the community. We will present some potential methodologies, and how we are proposing to establish collaborative working groups to establish a standard on this technology. The objective is to provide a platform for the international reliability community that allows for the development of a truly free, trustworthy, reliability resource.
When you help us understand how you use data, and what the future can look like, we can help a new paradigm emerge.
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