How Blockchain is Impacting Industrial Manufacturing and Supply Chain Logistics
Blockchain is essentially a ledger technology that uses cryptography to provide an authoritative record of secure transactions. By doing away with a trusted centralized middle man responsible for the ledger, blockchain allows for a “trustless trust.” The three primary transformative features are immutability, transparency, and autonomy.
The key drivers for blockchain and Industry 4.0 are automation, connectivity, and digitization. Couple that with greater intelligence through analytics and data rationalization, and the implementation of smarter operations can begin. Industrial IoT (Internet of Things) and cyberphysical systems represent the most popular realization of those key drivers.
This whitepaper details background information (defining blockchain, smart contracts and DAOs), industrial drivers, Industry 4.0 issues, barriers and challenges to blockchain, and blockchain use cases in industrial manufacturing and supply chain logistics.
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