Block Aero Soars in Singapore; Lands New Projects with MNCs

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Block Aero Soars in Singapore; Lands New Projects with MNCs

December 6, 2019

In the first half of November 2019, Block Aero has repeatedly emerged as a leading blockchain platform for the total life-cycle management of aviation assets. Block Aero won multiple prizes and was invited to launch new projects with some of the biggest names in the global aerospace and defense sector.

The month began with Block Aero presenting as a finalist in a competition organized by Rolls-Royce (RR), manufacturer of the Trent family of aircraft engines, in collaboration with Singapore Airlines Engineering Company (SIAEC). Open Innovation consultant Padang & Co. helped run the Rolls-Royce Blockchain Innovation Challenge (RRBIC) and vetted the source code of contestants products for technical quality and scalability. Over 50+ applicants competed for the grand prize, a chance to execute a proof-of-concept project with Rolls-Royce & SIAEC, and a government grant from Enterprise Singapore.

Five finalists, including Block Aero, presented their products and solutions as they battled it out during the Pitch Day on November 1^st 2019. After an intense afternoon of presentations, demos, and deliberations, the judging panel consisting of executives from RR, SIAEC, and Enterprise Singapore selected Block Aero as the Grand Prize winner of the Challenge.

Less than two weeks after winning the RRBIC, Block Aero participated at SLINGSHOT 2019 (a part of SSF x SWITCH, a collaboration between the Singapore Fintech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH)). Taking place from November 11-13th, SLINGSHOT invited the global top 100 deep tech startup companies to participate and present their ideas and products in front of some of Asia’s biggest corporations.

Block Aero won the ST Engineering Award at SLINGSHOT, which will see Block Aero work with Innosparks, the open innovation lab of ST Engineering in a three-month ‘mini-incubation’ to explore opportunities for collaboration with their aerospace sector. ST Engineering is a global technology, defense and engineering group specializing in the aerospace, electronics, land systems and marine sectors.

Commenting on these recent awards, Block Aero Founder & CEO Todd Siena said “Singapore is a truly dynamic city with vibrant technology and aerospace ecosystems. Block Aero is honored to have received recognition by such globally renowned and well-respected brands, and we’re excited for the opportunity to work together with them, exploring how blockchain and open innovation will lead the aviation industry to a fully digital future.”

Both of the projects with Rolls-Royce & SIAEC and with ST Engineering are expected to kick-off in early Q1 2020.

About Block Aero:

Block Aero’s mission is to improve global safety management systems, increasing productivity and transaction efficiency across the aerospace industry. We operate and maintain the Block Aero Platform, a web-enabled blockchain network built with Hyperledger Fabric. The platform manages the process of connecting assets, organizations and personnel with on-chain twins of their records, certificates, and licenses. For more information, please visit www.block.aero.

Forward-Looking Information:

Certain statements in this release may be “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “forecasts,” “projects,” “plans,” “believes,” “estimates,” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future plans, business prospects, financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual events to differ materially from these forward-looking statements, including economic conditions globally, general industry conditions as they may impact us or our customers, and other important factors disclosed previously and from time to time. Forward-looking statements speak only as of the date they are made and we undertake no obligation to update or revise any such statement, except as required by law.