2019 Opportunities for Blockchain in Manufacturing - ResearchAndMarkets.com
Summary
The industrial revolution began in the early 18th century and since then manufacturing has exponentially risen with complex supply chains, increased demand, and the lesser requirement for manual labor to meet the escalating needs of customers. To stay on top of the value chain one must continue to innovate and be informed with the global technological advancements. Blockchain technology a decentralized consensus-based approach is being tested and proven to improve the authenticity of users in any value chain by connecting them to a single solution. This way every participant playing a major role in the manufacturing of a part can be validated and chances of counterfeiting, frauds, data theft, transaction failures can be easily captured and scrutinized reducing errors and improving working proficiency. 4.4 Digital Twin Integrated with Blockchain for Automotive Supply Chain Application