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OYSTER BAY, New York, April 12, 2018 /PRNewswire/ -- Blockchain is a singular foundational technology that can accelerate the Industry 4.0 movement. Both are leveraging key technologies: automation, connectivity, and digitization, enabling greater intelligence through analytics and data rationalization for smarter operations. The rise of the Industrial Internet of Things (IIoT) and the expanded use of cyber-physical systems will underpin the functioning of modern manufacturing and supply chain logistics and can greatly benefit from blockchain support.
The transition to Industry 4.0 won't be easy, but blockchain tools such as smart contracts and decentralized autonomous organizations (DAOs) can help resolve some of the teething issues. These findings are highlighted in a new whitepaper titled "How Blockchain is Impacting Industrial Manufacturing and Supply Chain Logistics" by Michela Menting, Research Director of the Blockchain and Distributed Ledger Technology service at ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies.
"Industrial progress is not without its range of issues. Contract manufacturing, for example, is increasingly popular with many new players crowding the supply chain. This makes logistics more complex, and there is much less visibility end-to-end for the players involved," said Menting. "The use of decentralized ledger technologies such as blockchain can provide transparency on product movement, automate numerous logistical tasks, optimize workflows, and reduce friction throughout the value chain," added Menting.
This whitepaper provides background information on how blockchain can achieve efficiencies in Industry 4.0; defines blockchain, smart contracts and DAOs; as well as highlights the industrial drivers, current and upcoming industrial issues; and the barriers and challenges to blockchain adoption. Several blockchain use cases in industrial manufacturing and supply chain logistics are also detailed.
To download a PDF of the whitepaper, click here or visit https://www.abiresearch.com/pages/how-blockchain-impacting-manufacturing.
Menting, along with five ABI Research analysts will be available on-site at Hannover Messe 2018 in Hannover, Germany, between April 23-27, 2018 (Monday-Friday) for press interviews and one-to-one business meetings. To schedule an analyst briefing, click here or visit https://www.abiresearch.com/pages/schedule-hannover-messe-briefing/.
Resources:
Learn more: Listen to Michela Menting's webinar replay: Leveraging Blockchain for Industrial Manufacturing & Supply Chain Logistics
Discover "The Top Questions & Answers for Industrial Innovators: Six 1-Minute Transformative Technology Reads".
About ABI Research
ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies, which reshape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI's own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to take action now and inspire their business to realize a bigger picture. For more information about ABI Research's forecasting, consulting and teardown services, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
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