Drivers & Enablers of Blockchain Technology

Smart factories, smart products, supply chains, and smart solutions are some of the quality drivers and enablers employed to develop blockchain technology for their specific services from industrial perspectives. These conceptualized drivers and enablers are further sub-categorized based on the utility of various smart tools and kits: IoT, robotics and AI, cybersecurity, three- dimensional printing concept, loud database, augmented/virtual reality, etc.

Blockchain has many technological implementations and continually introduces innovative applications. There is a growing global interest in using blockchain technology in the manufacturing sector. Blockchain applications are investigating supply chain tracking, auditing, and multiple start-ups. Initially, blockchain is only one technology that embraces all cryptocurrencies used to understand future requirements. The tremendous improvements would occur in the internet networks themselves after further research.

Technology has consistently advanced further, and blockchain has developed dramatically. Thus, blockchain has been widely used as a distributed ledger technology.

In Industry 4.0, the program, computers, and machines are typically highly related. Protection of sophisticated industrial networks and simplified physical access systems is a top priority because cyber- attack also threatens them. The traditional network isolation and central compliance cyber- security models need to be replaced by distributable, rigorous, scalable, and adaptive models using stable, public-key encryption schemes and data-safety hash algorithms. Blockchain provides edge protection and allows authentication of the machine to machine and human-machine, stable data share, life cycle management, access control compliance of devices, and self-sustaining operation.