In recent times, news about blockchain and Bitcoin has been widespread, sparking significant interest across industries. Many research institutions believe that blockchain is one of the key technologies driving the fourth industrial revolution. As a result, forward-thinking companies are beginning to invest in blockchain technology and platforms. The commercialization of blockchain is already gaining momentum, especially within the virtual currency sector, led by Bitcoin.
However, as an advisory body for smart manufacturing, the OFweek Industry Research Center is particularly interested in how blockchain can be applied in this field. Studies suggest that blockchain offers unique advantages over traditional internet technologies—such as reducing fraud, lowering costs, and improving efficiency. These benefits align closely with the goals of smart manufacturing, making it a promising area for future development.
Blockchain is still a relatively new concept, and many industry professionals are still trying to understand its full potential. Its application in smart manufacturing is even more complex. To help clarify, let’s take the example of the "last bottle of 1982 Lafite" to demonstrate how blockchain can be used in intelligent manufacturing.
The "1982 Lafite" is a highly valuable wine, and some unscrupulous merchants have attempted to counterfeit it for profit. As a collector, how can you be sure that the bottle you bought is the real one? This is where blockchain comes into play.
Traditionally, anti-counterfeiting methods have been limited. Once products leave the manufacturer and enter the supply chain, it becomes difficult to track their authenticity. For example, if a manufacturer uses a label on the bottle, counterfeiters might reuse bottles. If they use a special cap, fake caps could be produced. Even if they use digital codes, these can be cracked. It's a constant battle between innovation and deception.
Blockchain, however, offers a solution. By recording every transaction and movement of the product on an immutable ledger, it ensures transparency throughout the supply chain. For instance, if the "1982 Lafite" was originally sold by seller A to buyer B, this information is recorded on the blockchain. If you want to verify whether the bottle you own is genuine, you would need to trace it back to B. Any other source is likely to be fake.
This example highlights how blockchain reduces fraud through its strong traceability. This capability is crucial for smart manufacturing, as it enhances trust, supports supply-side reforms, and improves overall operational integrity.
Beyond fraud reduction, blockchain also helps lower costs. Its inherent trustworthiness allows companies to skip unnecessary steps like supplier background checks or quality inspections. Additionally, blockchain’s decentralized nature reduces reliance on intermediaries, which in turn cuts down on costs associated with traditional e-commerce models. Companies can also make more cost-effective decisions by leveraging the transparent data available on the blockchain.
Moreover, blockchain boosts work efficiency. Its peer-to-peer structure enables direct communication and transactions without relying on a central authority. This streamlines processes and accelerates decision-making.
Another important intersection between blockchain and smart manufacturing lies in the development of the Industrial Internet of Things (IIoT). Blockchain’s decentralization will impact how industrial cloud services operate. It may reduce brand-specific barriers and encourage greater compatibility among different platforms. The distinction between public and private clouds will also become less clear, as blockchain combines transparency with privacy protection.
Furthermore, blockchain supports the growth of digital twin technology. Digital twins are virtual replicas of physical assets, and blockchain ensures that all relevant transaction data is securely stored and shared. This makes it easier to build accurate digital models.
Finally, the demand for detailed product information will drive the expansion of the IoT sensor industry. As physical products are increasingly virtualized, sensors will play a key role in capturing real-time data, enabling more precise and efficient manufacturing processes.
Overall, blockchain is not just a buzzword—it’s a transformative force that has the potential to reshape smart manufacturing and beyond.
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