TECHNOLOGY - BLOCKCHAIN
Manufacturing Global examines the influence of blockchain technology in the industry
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As factories around the world become increasingly interconnected , the influence of blockchain is becoming more prevalent . The Factory of the Future spans across a whole network of machines , parts , products and value chain participants , including machinery providers and logistics companies . Now , more than ever before , manufacturers face the challenge of securely sharing data within and outside factory walls .
To work out the best place for blockchain , a manufacturer must conduct a structured assessment which begins with identifying the company ’ s current business problems and future needs . Subsequently , it can then explore how it leverages the technology to relieve the factory ’ s pain points and addresses its needs . Equipped with a strong understanding of the opportunities and challenges it faces , the manufacturer can then choose the most appropriate option from the available technology solutions .
NOVEMBER 2020