Blockchain will revolutionize what it means for our mobility and transportation; things are about to get very interesting. This decentralized system requires little to no supervision, helping to prevent accidents and improve manufacturing processes in various sectors.
Below is the fifth part discussing how blockchain will harness the power of these industries.
Industrial IoT (Internet of Things)
Several businesses are using blockchain technology to enable any device to securely connect, engage, and transact without a central authority.
IBM and Samsung announced ADEPT (Autonomous Decentralized Peer-to-Peer Telemetry) as a proof of concept in 2015, which leverages blockchain-like technologies to create the backbone of a decentralized network of IoT devices. With ADEPT, a blockchain would act as a public ledger for many devices, eliminating the need for a central hub to facilitate communication.
The devices would interact with one another autonomously without the need for a central control system to identify them. This change would allow them to manage software upgrades, bugs, and energy without a central control system.
Hyundai Merchant Marine (HMM) of South Korea performed trials in 2017 with a blockchain system developed with Samsung SDS that has used IoT devices for real-time monitoring. For vessel arrival/departure, bills of lading, and cargo tracking, the "paperless operation" was a regular practice.
Helium and NetObjex, for instance, have recently launched blockchain-based networks for IoT devices in internet infrastructure and smart city transportation, respectively. Others are concerned with the security of IoT networks.
As critical infrastructure, such as power plants and transportation, is fully equipped with connected sensors, privacy and security issues exist. Companies like Xage now use blockchain's tamper-proof ledgers to secure industrial device networks.
The Future of 3D Printing
3D printing and "additive manufacturing" (building 3D objects by adding layer upon layer of material) are technologically advanced processes in which digital files are accessible with a mouse click. Consequently, the exchange of parts and products is much faster and monitored, resulting in more innovative digital supply networks and supply chains.
Using blockchain to support these evolving infrastructures can eliminate security flaws, protect intellectual property from theft, and streamline project management, ultimately assisting the 3D printing and additive manufacturing sectors to grow and scale.
As part of its BASECAMP (Blockchain Approach for Supply Chain Additive Manufacturing Parts) project, the US Air Force, for example, collaborates with SIMBA Chain. The blockchain-based platform registers and tracks 3D-printed parts for a more secure and tamper-proof record.
What it Means for Construction
Construction is a highly regulated industry that employs various tradespeople to accomplish complex projects. It can be difficult and time-consuming to substantiate their identities, work quality, and dependability. A blockchain-based ecosystem could help resolve this issue by making things simpler for general contractors to verify identities and track progress across multiple teams.
Blockchain technology may also aid in making sure that construction materials are sourced from the appropriate locations and are of good enough quality. In contrast, intelligent contracts may make issuing timely payments linked to project milestones much easier.
For instance, the Amsterdam-based construction firm HerenBouw used a blockchain to document transactions throughout a large development project in the city, likely to result in a more accurate, auditable record of orders placed.
Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.
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