Geeq Data

Introduction

The wide applicability of Geeq Data‘s attestation service is possible because of its simple, generic design. Geeq has developed a unique and new technology, tailor-made for easy adoption, real-time auditability and regulatory compliance.

From manufacturing to finance, healthcare and more, data are subject to audit by regulatory bodies. Enterprises bear large costs to comply, be prepared for an audit, or both. Read on for a brief hypothetical to help the aviation industry navigate these challenges.

The Challenge: A Demanding Regulatory Environment

The aviation manufacturing industry is regulated in the US by the Federal Aviation Administration (FAA). Manufacturers are subject to FAA requirements from start to finish: from design proposals to Quality System Audits of the production process and facilities.

Some safety and certification regulations are mandatory, while other safety guidelines are recommended. As in any regulatory environment, regulations are subject to change.

Progressing through this process means that aviation manufacturers may be required to produce credible evidence at any time, e.g. that specific components have been replaced at defined intervals and sourced from approved manufacturers. On top of this, aviation manufacturers must also navigate international certification authorities, a process which is subject to heavy time and education costs as bilateral agreements are negotiated.

A Motivation to Adopt Geeq Data:

According to a Global Market Forecast from Airbus, “In the next 20 years, Airbus forecasts the demand for new aircraft will progressively shift from fleet growth to accelerated replacement of older, less fuel-efficient aircraft. This will mean a need for over 39,000 new passenger and freighter aircraft, delivered over the next 20 years – around 15,250 of these will be for replacement of older less fuel efficient models.“

While the product-mix and service-orientation may change, using Geeq Data to streamline the process of data attestions remains the same. Geeq‘s entrepreneurial team has built a streamlined, non intrusive service, with easy adoption and seamless expansion in mind. With Geeq Data, enterprises will be able to reduce their costs for compliance and increase its readiness to respond to audits, regardless of how complex the regulatory environment or other market conditions change.

More information is available on the Geeq Data page, and a video walkthrough of a stripped down version, to show the essentials, while prompting you to imagine how these services may be customized.

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Mines are like huge manufacturing operations facilities that are located, many times, underground. As commercial mining has modernized, many steps in the production process have become better defined with Key Performance Indicators (KPIs) that track production efficiency across different activities and sites. Always under pressure to reduce costs, mining operations must balance cost savings in production with expenditures in areas of workplace safety and incident response. Finally, as the product cycle involves transportation and movement of humans and capital across different zones, real time geolocation technology is used increasingly to monitor, track, and manage assets.

IoT is Everywhere

As is often the case for industries adopting IoT, an immense amount of real time data is produced by all the sensors. Sensors that instantly locate workers, tools, vehicles; sensors that monitor environmental safety, define zones, and optimize conditions with respect to activity – in mining as in other smart factories and industrial settings, there may be hundreds or thousands of devices sending real time signals. However, if data collection forms the backbone for a successful mining operation, what happens if all actors do not have the same data?

At the end, the success of the mining operation comes down to being able to coordinate on the same on-time reliable data to make the right decisions. When multiple actors with potentially different objectives and scopes of work are required for a complex job, one has to wonder, do they share that information? Probably not.

At the end, the success of the mining operation comes down to being able to coordinate on the same on-time reliable data to make the right decisions. Can blockchain solve that? Yes, in part.

The Case for Geeq Blockchain

Mining presents several use cases where the addition of Geeq™ blockchain can solve information coordination problems as well as provide a valuable way to organize collection and storage of real-time information that permit new ways of analyzing data to improve production decisions for the future.

The mining industry provides an example of each of the five business problems which Geeq identifies as cases where its blockchain can be used to improve operational efficiency. Paired with the fact that mining is becoming increasingly reliant on IoT, pairing IoT with the organization of Geeq applications specifically designed for IoT increases the ability for companies to take advantage of machine learning techniques, secure that they are analyzing reliably logged real-time data.

Geeq’s Unique Selling Points

Geeq’s proprietary technology offers endlessly scalable blockchain solutions with unparalleled security compared to other blockchain methodologies. Consider all the forms of security listed in the left-most column below.

Because Geeq was originally designed to back IoT data with blockchain-based services, practical constraints and inexpensive costs were a priority. Here are estimates for putting simple IoT telemetry on a Geeq blockchain. To check out the assumptions and calculations used to calculate these estimates, please check out this resource in our Explainer section.

Conclusion

Currently, the mining industry is relying in very centralized data solutions. Not only are centralized data solutions vulnerable to external threats, they limit the efficiency of the operation. In mining, especially, the potential benefits of using distributed IoT sensors and devices are obvious. However, in order to access the full potential of those data streams, as well as to benefit from the security and convenience of decentralized data structures, Geeq’s blockchain-based IoT brings added security, flexibility, and the ability to coordinate actions on shared, independently verified reliable data in real time and in planning for the future.

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“If auto manufacturing were a country, it would be the sixth largest economy”, states the International Organization of Motor Vehicle Manufacturers. Deloitte Insights 2020 Report, “Industry 4.0 in Automotive: Digitizing the end-to-end value automotive value chain” discusses the pain auto manufacturers may face if the cost of “trying to keep multiple research and development (R&D) balls in the air at the same time”, largely self-funded in areas such as electric vehicles (EV), additive manufacturing (3D Printing), connected vehicles, and cybersecurity threat mitigation do not translate into prices consumers are willing to bear.

The Deloitte report identifies four paths to control the costs of technology improvement while attempting to stay relevant:

1. Cost-cutting, including “exit from entire vehicle categories”,
2. Acquiring technological expertise and technological startups rather than developing the technology in-house,
3. Spreading costs across players by forming strategic partnerships, and
4. Collaborating both inside and outside the industry with security experts and regulators to identify threats, develop standards, and work on infrastructure plans that will allow connected or semi-autonomous vehicles to provide consumer services safely.

Connected Vehicles are connected by Sensors (IoT), and Sensors generate Data

Because the Fourth Industrial Revolution is driven by “smart” technologies, the role of data is pivotal. There is no shortage of data generated as auto manufacturers strive to include the Internet of Things (IoT) in their connected vehicles. Autonomous driving features depend critically on feedback from IoT as well. Translation to actual road use, however, will require buy-in by regulators, auto manufacturers, and consumers alike. Many steps remain in between current R&D and adoption, including agreement on safety certifications and the communications technology infrastructure that will need to be available.

Fortunately, coordinating on these necessary requirements in a cost-effective way is one of the value propositions of using Geeq™ blockchain as a back-end data service for IoT.

Why Geeq blockchain?

Geeq’s blockchain platform is designed as a stand-alone, add-on data service for enterprise adoption, with security uppermost in mind. As manufacturers worry about cyberthreats, Geeq’s novel Proof of Honesty™ protocol introduces no new attack surfaces that could distort the reliability and integrity of the data logged in independent blockchain applications. Safety regulators and consumers alike will need reassurance that auto manufacturers are providing provably unaltered data. That’s exactly what Geeq™, above all other blockchain services, provides. For that reason alone, Geeq™ is poised to be a key player in the Fourth Industrial Revolution.

Geeq’s enabling technology provides manufacturers with the ability to prove to regulators and consumers that they are providing unaltered data. For that reason alone, Geeq is poised to be a key player in the Fourth Industrial Revolution.

In addition, in keeping with manufacturers’ needs to reduce costs of record-keeping, Geeq estimates the costs of its IoT blockchain-based services to be extremely low.

If you are interested in the assumptions used and a breakdown of the cost calculations in the Table, those are stated here.

Conclusion

Technology, timing, execution and an ability to meet customers’ needs are keys to success in successful adoption. In the case of connected vehicles, the timing of auto manufacturers’ needs and Geeq’s blockchain is exceptionally well-matched. Geeq’s technology solves the problem that many manufacturers face as they try to keep up with the fast pace of innovation. With Geeq, manufacturers can:

• Outsource a secure blockchain data service without disrupting their own organizations,
• Commit to providing comparable data for regulators without having to form consortia or share data with competitors,
• Access cost-saving technology, and
• Reassure their own customers that their processes have maximized transparency with accountability.

To find out more about the experience of Geeq’s Team and our commitment to implementation with your interests in mind, we invite you to visit Geeq’s Team page. At Geeq, everyone in our public blockchain ecosystem wins when our services provide value. We look forward to growing with you.