The adoption of blockchain technology in Manufacturing is revolutionizing the way the industry is performing. From operational excellence to product authenticity, consumer experience to quality of care.
Application of blockchain in manufacturing industry
Application of Blockchain in
The distributed ledger technology in simpler words- Blockchain keeps the potential to disrupt any
industry type or any business model. Without any disparity in the size or complexity of business model,
blockchain is presumed to make significant changes in the business undertakings.
Today, with the power of blockchain, industries are reestablishing their lost trust, simplicity and
accuracy of carrying various tasks. With blockchain, more secure and speedy financial transactions,
enhanced customer experiences, traceability of records are accomplished. Operations such as Document
verification, Banking and Financial Services, needless to say Healthcare are witnessed with exemplary
remarks and changes in their conduct.
Manufacturing industry is no different from this. The adoption of blockchain technology in
Manufacturing is revolutionizing the way the industry is performing. From operational excellence to
product authenticity, consumer experience to quality of care, blockchain is bringing several changes to
the manufacturing business sector.
So what particularly interests a manufacturing industry to implement blockchain in their operational
It is none other than the benefits of verification and transparency, blockchain technology awards.
Blockchain can radically change the facet of manufacturing industry via offering a platform that is more
secure and transparent to conduct transactions and services.
Let’s see it in detail.
When it comes to the supply chain of manufacturers it always seen to be the most sophisticated or
refined, complex associations. And with various subtleties, it becomes highly challenging in terms of
establishing transparency and accountability in business. Especially with the logistics. With blockchain
technology in hand, manufacturers can bring in increased level of visibility to various manufacturing
processes, such as manufacturing of different service parts, their quality checks, repairs, shipping of
new equipment and so forth.
Being decentralized and shared across different nodes the information about a product/ service parts,
taking proactive measures in the operations is made simpler with blockchain. Before it ever breaks
down, the management can take sufficient measures via looking at the continually-reconciled database
of blockchain. Recognizing issues within the supply chain processes and streamlining them is achieved in
few span of time via blockchain.
For instance, the company X delivers a vehicle with faulty parts- resulting great loss to the buyer, tracing
them via traditional means is no less than a tricky challenge. However, with blockchain, one can easily
trace the supplier as blockchain keeps record of every transaction. Via blockchain the issue is solved
faster at the same time reduced the spending over of larger time and labor cost by business to solve
supply chain issues. Before a matter gets widespread to a larger mass, blockchain helps in quickly
identifying them and mitigate them in real-time.
In addition, via cutting middlemen, and improving the security, Blockchain changes totally the
manufacturing supply chains and its data management. Smart Contracts help in eliminating the interplay
of people such as intermediaries in the business. Thus business is benefitted from saving a lot of time.
Moreover, the payment that takes too much time in validation or approval in conventional setup, gets
quicker with blockchain.
Smart contracts created for the projects, make the payments faster soon the parties fulfill the conditions
1. IBM and Maersk (a leading shipping company) tested the technology of blockchain in logistics
operations. It was revealed that blockchain can be an effective medium for tracking containers during
shipping processes. Tracking via blockchain, simply reduced the amount of human effort undertaken for
tracing things, also paperwork associated to shipment. Via blockchain, every performer in supply chain is
brought to the limelight and made easier access of information that is relevant to act on.
2. Project Provenance Ltd. is reestablishing the trust in supply chain. The idea is digital passport for every
product proving its authenticity and origin. The central aim is to enhance the transparency within the
supply chain and totally eliminate the sale of fake goods in the business. The project stringent the working
and environmental standards existing for many products. Also ensures that the transfers of ownership are
carried under the supervision of relevant controllers.
3. Start up-Everledger used blockchain for registering diamonds, thereby securing their transaction history
and ownership. They strongly believe blockchain technology can identify machines in an IoT context.
Key features of blockchain for manufacturing industry
Immutability Featuring no change in the data or information once its stored in DLT or
Traceability Easy tracing of information and data for quick business decisions.
Decentralization Data distributed in network/different nodes making it accessible to
every participant in network.
Data security and transparency Being cryptographically stored the information, no outsiders can change
Amalgamation of Blockchain with IoT and 3D printing in Manufacturing
Supply chain being the basic and integral part of the manufacturing industry, it advocates for a
progressively effective framework that guarantees seamless and consistent business run.
If one goes for amalgamating blockchain with IoT in supply chain’s shipping segment, it is assured to
bring in greater and enhanced transparency, authenticity, consistency to item and legally binding
prerequisites altogether diminishing the duplication of products, furthermore the fake products. This
turns out to be highly significant for industries such as Consumer Packaged Goods, Aerospace and
Defense, drug store. Blockchain with IoT can guarantee these industries with hassle-free shipping,
sealed stockpiling, Temperature controlled product transportation and considerably more. Installing
devices like sensors onto products can simplify the whole process of real-time tracking of information,
also proving the products or service parts manufactured are authentic and rea
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