2. Problem statement & scope
1. What is DLT
2. Advancements Tangle
3. Potential applications
for manufacturing
industry
Distributed ledger technology (DLT), also
known as blockchain, enables new business
and trust models and has true
transformational potential beyond
cryptocurrencies. However, it's still an
emerging technology. Student research is
expected to explain what is DLT, its building
blocks, platforms and tools used to develop
solution and its application in manufacturing
Industry like Eaton.
2
5. At Eaton
Leader in providing highly engineered products,
services and aftersales
-Inter-organization -Customer
support
-Intra-organization - 5
6. Where to apply
● Business Problem
● Business Network
● Need for trust & checks
Manufacturing sector fulfills all these criteria.
6
7. Process
requirements
7
first
IT and tech
Large cost of setting up digital
nodes and improving
accessibility in a largely physical
database, mobile and desktop
applications, training personnel
Gateways
Authority to ensure identity of
participant and level of access
second
Security and Hierarchy
High level protection of all
nodes and monitoring user
activity
third
Maintenance
Continued cost of upkeep of
expensive systems and storage
last
8. Limitations
Lack of a clear ROI, capital
and training requirements,
immature technology,
missing standards, the
unclear legal and regulatory
framework
8
9. Impact & disruption
Smart Contracts
Distributed ledgers enable the
coding of simple contracts
that will execute when
specified conditions are met.
Ethereum
Auditing
Distributed ledgers provide an
easy way to certify if the things
we buy are genuine.
Transparency comes with
blockchain-based timestamping
of a date and location.
Digital File storage
Decentralizing file storage on the
internet brings clear benefits.
Distributing data throughout the
network protects files from
getting hacked or lost.
9
Microgrids
When solar panels make excess
energy, Ethereum-based smart
contracts automatically
redistribute it. Similar types of
smart contract automation will
have many other applications as
the IoT becomes a reality.
Land title registration
As Publicly-accessible ledgers,
blockchains can make all kinds of
record-keeping more efficient.
Property titles are a case in point.
They tend to be susceptible to
fraud, as well as costly and
labour intensive to administer
Safety
Solutions to Intellectual Property
Theft affecting 3D printing,
incentive to prediction markets
that can save assets & lives if risk
is mitigated,
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.