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In the world of manufacturing, Industry 4.0 and the Internet of Things are game changers. If we also bring Blockchain to the table, the possibilities are endless. Manufacturing becomes automated and cheaper. The industry becomes decentralized and users all over the globe can come together on a single network to produce goods. Manufacturers could even produce mass-customized goods at the price of mass production.
The Internet of Things is exactly what it sounds like – a network where physical devices are connected to one another. Industry 4.0 is the current trend of automation and data exchange within manufacturing technologies. Blockchain combines the transparency of the internet with the security of cryptography. Anyone using blockchain can verify key information and establish trust in seconds, without the need of third parties. Now, imagine the potential of combining these technologies. It would let manufacturers have a direct link to clients, suppliers and producers. Production orders could be monitored on the blockchain and goods could be produced across factories across continents. This would save time and drastically lower production costs. Businesses that produce and sell goods would suddenly be able to customize products for their consumers, and consumers would benefit from the joy and comfort of buying products that look and work best for them. The blockchain and IoT would even allow last minute changes thanks to the distributed ledger that links customers and manufacturers.
The German business ARXUM has combined these technologies and created a Production Protocol. Their protocol enables production processes to be automated and run on the blockchain. To show how the technology works, the business has created an application that makes personalized beer coasters. When a user makes an order through the beer coaster application, the order is written into a smart contract on the blockchain. The ARXUM Connection Box, connected to the production line, constantly scans the blockchain for new smart contracts. When it finds one, it downloads the information like a name and a shipping address. Then it pushes the process into the ARXUM Production Protocol and the production starts. A laser machine engraves a beer coaster and an address label is printed.
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This initial application proves that the future of the manufacturing industry already has come. The technology can be implemented for any other use case. Start-ups anywhere in the world can use the network to find manufacturers around the globe. Manufacturers can produce customized cars for consumers, allowing last minute changes up to a few weeks before delivery. Shoe sellers can produce running shoes with personalized cushioning for their clients – at the price of regular shoes. It’s time for a new approach to manufacturing.
Watch ARXUM’s beer coaster production in action: http://bit.ly/2MmBy9B
Read more about ARXUM’s technology: https://arxum.com