Industry & NDE 4.0 — The benefits from DLT and the IOTA protocol
The full article was originally published by Christian Sambolz on Medium. Read the full article here.
I will try to describe some DLT use cases in several articles, which may serve as an impetus to make people in different industries aware of this groundbreaking technology. Let’s start with a first look on a specific data scenario…
I would like to point out the synergy effects that arise when we are able to transfer, process and resell data obtained from various material testing methods with the help of Distributed Ledger Technology in a way that has never been possible before to provide quality and safety assurance of valuable assets.
Before we go in medias res, i would like to explain a few basic terms and circumstances we face in the world of non-destructive testing and why secure, verifiable and immutable data will become increasingly important in the future.
What is distributed ledger technology?
Distributed ledger technology (DLT) is a consensus of a digital system for recording transactions of data, value or assets in which these transactions and their details are recorded in multiple places at the same time. Unlike traditional databases, distributed ledgers have no central data store or administration functionality. Their open approach is transparent and democratic and can create trust between parties where it’s needed. Cryptography is used to securely store data, cryptographic signatures and keys to allow access only to authorized users. The technology also creates an immutable database, which means information, once stored, cannot be deleted and any updates are permanently recorded for posterity.
This architecture represents a significant change in how information is gathered and communicated by moving record-keeping from a single, authoritative location to a decentralized system in which all relevant entities can view and modify the ledger. As a result, all other entities can see who is using and modifying the ledger. This transparency of DLT provides a high level of trust among the participants and practically eliminates the chance of fraudulent activities occurring in the ledger. As such, DLT removes the need for entities using the ledger to rely on a trusted central authority that controls the ledger, or an outside, third-party provider to perform that role and act as a check against manipulation.
Examples of DLT networks are blockchains like Bitcoin / Ethereum / Cardano, or DAG’s (directed acyclic graphs) like IOTA. All of these can vary between the consensus algorithm — proof of work, proof of stake, voting systems like IOTA’s coming OTVFPC (#1, #2) and so on.
What is non-destructive testing (NDT/NDE)?
Nondestructive testing (NDT) is a wide group of analysis techniques used in science and technology industry to evaluate the properties of a material, component or system without causing damage. The terms nondestructive examination (NDE) and nondestructive evaluation (NDE) are also commonly used to describe this technology.