Blockchain and Industry 4.0

What is Industry 4.0?

Industry 4.0 is the fourth Industrial Revolution that is emerging the way we work or live. It ensures the interaction and connectivity amongst the machines, and humans. Now, humans can interact with machines in an automated manner that improves the production, efficiency, and quality of life. Along with this, the revolution promises to establish the trusted networks that remove the need of middlemen. It also synthesizes new production methods that allow the manufacturers to achieve intended and strategic objectives more rapidly.

What is blockchain?

Blockchain is a distributed and decentralized database. It stores digital information in the form of groups known as blocks. The blocks possess certain storage capacities, and are linked to each other to form a chain, known as a blockchain. Each block is time stamped and irreversible in the blockchain. Once a block is filled with data up to its limit, then the next data is entered into a fresh or next block of the chain.

Contributions of Blockchain to Industry 4.0:

Digital Supply chains

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IOTric

IOTric

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IOTric is a leading Blockchain, Mobile, Web application, AR/VR, IoT, and Custom Software Development Company.