How Blockchain Technology Will Lead Fourth Industrial Revolution
Blockchain in Industry 4.0
Since the 18th century, the world has witnessed a lot of significant industrial revolutions across the world. Such revolutions have brought us a lot of changes, upgradation, automation in many industries mainly on manufacturing and supply chain.
Till now there happened three major industrial revolutions each of them focused on technology improvement, efficiency, fast production, enhanced methodologies to deliver customer goods on time without delay and smarter the work process which we have done with older technology. Another thing we have to note with this revolutions is each revolution has enlightened mankind with unbelievable economic growth, the revolution in production, robustness in development, and hence empowered the economic growth of nations.
In this article, we are going to briefly differentiate, each industrial revolution, and how those revolutions have made the entire world turn in to digital. Also, we are going to examine how blockchain, the new technology intruder could play a lead role in the fourth industrial revolution, industry 4.0. Let’s have a glance on the history of industrial revolutions, by traveling back to the 18th centuries.
What Is Industry 4.0?
Industry 4.0 is a term that defines the concept of the "smart factory" along with the growth of Industrial technologies (i.e)Industrial internet of things(IIoT) via automation, interconnectivity, Machine Learning, real-time data processing, and digitization. It defines how our society and industries can grow up with the new kind of technologies to enable efficient data exchange, faster, flexible, efficient, smart manufacturing methodology to meet the mass production of high-quality goods with reduced Costs.
Industry 1.0 - The First Industrial Revolution
Time period: 18th Century ( Approximately 1760 - 1840)
During this period Manufacturing has been evolved from hand production methods and labor work is done with animals to the better-optimized labor work done with machines powered by water and steam. This is the era when machines started to replicate the work done with humans and animals. During this period, many labors lost their jobs as machines started to replace their work. In this period, the term "Factory" become more popular, and the most notable industries that benefited a lot are, Textile industry, agriculture, iron production, and mining industry.
Industry 2.0 - The Second Industrial Revolution
Time Period - 19th Century (1870-1914)
The Period of modern production powered with factory electrification. During this period water and steam energy have been started to replace by electrical power. Also, this period is better known for the introduction of railroads, and telegraphs.
Industry 3.0 - The Third Industrial Revolution
Time Period - 20 th Century ( approximately between 1930 - 1970)
This Period is known as the Scientific and technical revolution, This started to begin after the two world wars. During this period supercomputer has been invented, after that the use and mass adoption of computers started to grow inside the industries. This is the time where machines started to evolve from analog into the digital one.
This Period is known as the Scientific and technical revolution, This started to begin after the two world wars. During this period supercomputer has been invented, after that the use and mass adoption of computers started to grow inside the industries. This is the time where machines started to evolve from analog into the digital one.
Industry 4.0 - The Fourth Industrial Revolution
Time Period - (1975- Present )
We are currently in the early period of Fourth industrial revolution, that is called the digital revolution. We are living in the era of Machines started to communicate with each other via a network known as IoT (Internet Of things) and with People Known as Internet Of People (IoP)
We are currently in the early period of Fourth industrial revolution, that is called the digital revolution. We are living in the era of Machines started to communicate with each other via a network known as IoT (Internet Of things) and with People Known as Internet Of People (IoP)
Industry 4.0 initiated to foster the idea "smart factory". The component of modular structured smart factories and cyber-physical systems would help us to make a virtual copy of the real world and can make decentralized decisions on it.
Blockchain In Industry 4.0
Now we have come to the core concept of this article, How the blockchain technology can be implemented for the cause of industry 4.0
The topmost challenges of adapting industry 4.0 are
- Implementing the data transparency,
- Decentralized decision-making process,
- Interconnectivity,
- Ease of data exchange,
- Automation,
- Informed decision,
- Scalability of machines or device implementation for mass productions,
- Traceability in SCM,
- To store data passed by the IIoT devices, sensors and CPS systems inside a fully secured storage.
The only addressable technology that could meet all the challenges in recent time, is " The Blockchain Technology".
If we can integrate blockchain technology to the components of Industry 4.0 Industries could smash all the hurdles, and could empower the ideas of a smart factory with IIoT devices empowered with Blockhain Methodology.
If we can integrate blockchain technology to the components of Industry 4.0 Industries could smash all the hurdles, and could empower the ideas of a smart factory with IIoT devices empowered with Blockhain Methodology.
Blockchain Use cases In Industry 4.0
Here are the notable use case of blockchain in manufacturing (i,e) blockchain in industry 4.0
1. Blockchain could automate and integrate the process of a supply chain with highly transparent information traceability
Check out blockchain would work in SCM: Blockchain In Supply Chain Management
2. Can secure the Industrial IoT Process, functionalities, Data exchange between the IIoT devices.
Check out Blockchain In IoT
3. Data Processing and Data Analyzation With Big Data could be more efficient
Check out Blockchain In Big Data
Check out Blockchain In Big Data
4. Blockchain With Artificial Intelligence
By implementing blockchain with artificial intelligence we could eliminate the hurdles in automated data transfer between the CPS system and IIoT connected devices in a production value chain,
Check out Blockchain in Artificial Intelligence
By implementing blockchain with artificial intelligence we could eliminate the hurdles in automated data transfer between the CPS system and IIoT connected devices in a production value chain,
Check out Blockchain in Artificial Intelligence
Apart from the four above, the following use cases are the default use cases that could help in enhancing an industry.
5. Scalability
6. Data transparency
7. Decentralization
During the mass production process, industries may face a situation of expanding their machines and device implementations. So, the basic technology which powers the entire mass production should be capable of supporting the scalability of device implementations, and data transparency with those devices as well as fulfill the decentralization. Blockchain would be the only choice to meet all these technical requirements.
During the mass production process, industries may face a situation of expanding their machines and device implementations. So, the basic technology which powers the entire mass production should be capable of supporting the scalability of device implementations, and data transparency with those devices as well as fulfill the decentralization. Blockchain would be the only choice to meet all these technical requirements.
Final Thoughts about Blockchain in Industry 4.0
industry 4.0 is obvious and couldn't be avoided by anyone. But it is upon us to decide whether to go with the industrial revolution or stay back from the growth of industries. If industry wanted to grow with the trending technology it is a must for them to adapt, implement and experiment the concept of industry 4.0. The arrival of blockchain in industry 4.0 will sure enrich the idea of implementation and will empower the digital revolution across the world.
Originally Published Article : Blockchain In Industry 4.0
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