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SAE ARP6984

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This SAE Aerospace Recommended Practice (ARP) provides insights on how to perform a Cost Benefit Analysis (CBA) to determine the Return on Investment (ROI) that would result from implementing a blockchain solution to a new or an existing business process. The word “blockchain” refers to a method of documenting when data transactions occur using a distributed ledger with desired immutable qualities. The scope of the current document is on enterprise blockchain which gives the benefit of standardized cryptography, legal enforceability and regulatory compliance. The document analyzes the complexity involved with this technology, lists some of the different approaches that can be used for conducting a CBA, and differentiates its analysis depending on whether the application uses a public or a private distributed network. This document is intended for people who do not have a deep technical understanding or familiarity with blockchain solutions to qualify and quantify its economic benefits (i.e., the value proposition). Purpose This ARP is not a standard or legal document because the approaches towards the end objective are many and varied. The document has been compiled to help the increasing number of people who want to compute a blockchain cost benefit analysis prior to implementing such a system on a platform. Approach The approach taken here identifies the parameters that are relevant for developing a CBA so that the boundaries of a specific problem could be defined from the outset. Several recent papers presented at conferences on the subject matter were studied and information obtained from various sources. Various methods were assessed for their application to specific scenarios and the parameters utilized by each scenario. The result is a document that offers the reader various solution paths so that the ones most appropriate to the specific situation can be used or adapted. Intended Users The document is intended for potential decision makers, sponsors, business analysts, functional analysts, architects, developers, users and other stakeholders of blockchain technology within the aerospace ecosystem such as original equipment manufacturers, suppliers, operators, owners, regulatory authorities, Maintenance, Repair and Overhaul Organizations (MROs), lessors, disposers, IT product suppliers, IT service providers, and others. How to Use This Document This ARP document will help users assess, evaluate, and quantify the cost and business benefits of blockchain solutions, and is intended to be a blueprint for conducting a CBA of a blockchain application. Section 4 presents a quick summary of various blockchain applications in aerospace. A typical blockchain application qualification process is given in Section 5. Factors, costs, and benefit considerations in blockchain CBA study are given in Section 6. Section 7 provides a perspective on challenges associated with completing a CBA for blockchains and Section 8 provides an ROI computational model. The entire cost benefit study has been illustrated through an example of blockchain based virtual store for aircraft spare parts in Section 9. Finally, Section 10 summarizes and concludes the current study.

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