Potential of blockchain into industry 4.0
- 1. "Potential of Blockchain into Industry 4.0" NATIONAL CONFERENCE ON INDUSTRY 4.0 AT THE MGMCET, KAMOTHE, NAVI MUMBAI @AjitGJoshi
- 3. WHAT DOES THAT MEAN? ● What is a blockchain ? ○ blockchain is a distributed, decentralized, ledger ■ Distributed Database - everyone has a copy ■ Decentralized - no single owner ■ Immutable - Secure from tampering ○ Two main models ■ Public - Permissionless ■ Private - Permissioned
- 4. Introduction Use Cases ● Cryptocurrency is the most well known ○ Let's not go there ● Provenance ○ Supply chain, financial trading, precious metals and gems, food supply, royalty tracking ● Healthcare, IoT, Telco ● Public Sector - incentive programs ● Government - deeds, licenses, estate settlement
- 5. Some Conventional Use Cases
- 6. DEFINTION Blockchain - Type of distributed ledger - Value exchange transactions are sequentially grouped into blocks - Each block is chained to the previous block - Immutably recorded across a peer to peer network - Uses Cryptographic trust and assurance - May include programmable behavior A blockchain is a protocol for building historical record of transactions
- 7. WHY IS IT NEEDED?
- 8. ORIGIN Blockchain technology was first introduced in a whitepaper entitled: “Bitcoin: A Peer-to-Peer Electronic Cash System,” by Satoshi Nakamoto in 2008. No reliance on trust Digital signatures Peer-to-peer network Proof-of-work Public history of transactions Honest, independent nodes control majority of CPU computing power Nodes vote with CPU computing power Rules and incentives enforced through consensus mechanism https://bitcoin.org/bitcoin.pdf Distributed Systems Peer to Peer Networking Hashing Functions Public-Key Private-Key Cryptography Cryptographic Signatures Elliptic Curve Cryptography
- 9. BENEFITS AND CHALLENGES Benefits Disintermediation & trustless exchange Empowered users High quality data Durability, reliability, and longevity Process integrity Transparency and immutability Ecosystem simplification Faster transactions Lower transaction costs Challenges Nascent technology Uncertain regulatory status Large energy consumption Control, security, and privacy Integration concerns Cultural adoption Cost
- 12. 1st Revolution 2nd Revolution 3rd Revolution Industry 4.0 Factory Production Mass Production / Assembly Line Digital Automation Smart-Systems / Cyber-Physical Systems What is industry 4.0
- 14. Technology Dimension in Industry 4.0 with Blockchain Demand-driven supply chain Big Data Cloud Internet of Things ("IoT") Cyber-security Additive manufacturing Autonomous Robotics Augmented Reality
- 15. Digital Supply Chain & Blockchain
- 17. Conclusion The Industry 4.0 blueprint sets out pathways and avenues towards the ending destination of becoming an entirely digital enterprise. The instinctive procedures in blockchain technology give the industry ecosystem the opportunity to cross-check its own devices and suppliers while giving the assurance of confidentiality of sensitive information.
- 18. Thanks #9820305245 ; Twitter @AjitGJoshi