Blockchain is a revolutionary technology that has quickly subverted many industries, and it can solve the most urgent efficiency problems that enterprises today need to solve. With the advent of blockchain, companies around the world are preparing for the fourth industrial revolution.
Entering the era of Industry 4.0, intelligent technology and intelligent applications have closely linked us to form a fully Crypto society. By 2020, its potential value will reach about 4 trillion US dollars, and research shows that companies around the world will be able to benefit from the fourth industrial revolution. With the advent of blockchain, we are ready.
Although blockchain was once the core technology of Bitcoin (BTC), it still exists independently today, affecting many industries from game companies and enterprises to manufacturing. Digital technology is entering every aspect of our lives at a steady pace.
Once the data enters the database, it cannot be changed or deleted without notifying all relevant parties. This fact brings the use of this technology to a new level. The “Big Four” audit firm PricewaterhouseCoopers (PwC) surveyed 600 global executives and found that 84% of respondents have already used blockchain in their organizations in some way.
A report by analyst firm Gartner predicts that by 2030, the value of the blockchain market will exceed US$3.1 trillion. Adrian Lee, senior research director at Gartner, said: “Product managers should prepare for the rapid development of the blockchain platform market, early elimination, changing competitive landscape, future product integration, and potential failures of early technologies/functions.”
What is Industry 4.0
Industry 4.0 is not a new technology or a new enterprise structure. It is the trend of data transactions and automation in the creation and development of new technologies in our society. It is only a recognition of the technology that has made great strides since the 19th century and thus started mass production. Want to learn more about Industry 4.0? We must also talk about the previous three industrial revolutions.
The first and second industrial revolutions. In the 19th century, we witnessed the transformation of Britain from the era of agriculture and animal husbandry to the industrial sector, focusing on factory production. The second industrial revolution introduced large-scale production and the steel industry. The factory became more “electrified” and gave birth to Henry Ford’s assembly line, enabling mass production and large-scale distribution in the industry.
The third industrial revolution is that the world is moving towards “Cryptoization”. Until the 1950s, technology operated at the analog, mechanical, and electronic levels.
Since the 1970s, we have become more and more Crypto, and more and more tend to make our society completely Crypto, whether it is an intelligent housekeeper assistant or an intelligent security system. Industry 4.0 uses the Internet of Things (IoT) to promote the digitization of factories, allowing them to achieve “intelligence”. In this architecture, we consider creating an “information-physical” system mechanism monitored by tightly integrated algorithms and software to replicate physical systems onto a virtual network to achieve decentralized decision-making. With the introduction of the Internet of Things, information-physical systems can communicate and cooperate with each other to provide users with real-time system interaction.
This new era is very attractive to companies that are on the sidelines, willing and willing to accept the impact of the Crypto age revolution. Rather than spending time and energy to help companies that are not ready to change or just unwilling to make changes to raise awareness, it is better to turn their goals to those entities that have seen their own prospects and room for growth from these advancements. But this is a double-edged sword, because it is very important to understand the companies that do not change and why they do not.
The fourth industrial revolution undoubtedly brought huge challenges, especially for the financial system. Coincidentally, Bitcoin and its blockchain technology are ideal tools for transitioning to the world without trust and opening up a new economy.
The Industry 4.0 blueprint provides a method and path for the ultimate fully Crypto enterprise. In order to achieve a true Crypto transformation, the market needs to accept it with an open mind. We are still experimenting with smart technologies, the Internet of Things, and cloud computing, and AR/VR is still in its infancy. We are constantly approaching Industry 4.0.
The Industry 4.0 era has a great impact on the B2C and B2B industries. In the B2C field, the focus is on harnessing the energy between the consumer’s family and personal life. Smart home assistants like Amazon Echo, Google Home, and Apple HomePod are achieving this goal. However, under the circumstances of convenience and efficiency, we have seen the risks of data mining in Fitbit, Amazon and the potential devices now linked to Facebook.
But the B2B field is different. In the creation of a “smart factory”, the level of automation is closely related to the development of sensor technology, automation equipment, software, AI, and the machines that teach us what, when, and how to do it. The core of all these problems is that companies sacrifice their own data and the cost of risks faced by consumers.
Industry 4.0 includes not only manufacturing, but also the Internet, games, entertainment, and finance… and only the overall Crypto transformation of the entire social industry can truly be called the “fourth industrial revolution.” We are at the beginning of a new era. The technologies driving Industry 4.0 will continue to develop, as will blockchain.
Let’s take a look at how the blockchain technology has changed various industries in the era of Industry 4.0.
BP and Royal Dutch Shell announced in 2017 that they will cooperate with Statoil (now Equinor), Koch Supply & trading, Gunwo (Gunvor) and other member countries such as Mercuria, as well as banks such as ABN Amro, ING and Societe Generale. The project aims to eliminate the reliance on traditional paper contracts that produce a large number of paper documents.
Blockchain allows the energy sector to monitor its transactions, verify the source of certificates, Cryptoly register and control output. In the long run, blockchain technology will help the energy industry reduce operating costs, improve operational reliability, and speed up the efficiency of domestic trade operations.
Blockchain enables companies to track their products throughout the life cycle of their products, from transportation facilities to consumers in stores. In addition, because the blockchain enables companies to maintain a transparent data flow, it allows coordination of details between all parties involved in the production and consumption chain.
For example, using blockchain for auto parts and warranty helps track counterfeit products and even helps companies make informed decisions. It is often difficult to distinguish spare parts from original parts based on their appearance. The proportion of low-quality parts in the market is getting higher and higher. When they can not play a role in after-sales service quickly, it will damage the reputation of car manufacturers and dealers. However, blockchain technology can help manufacturing in a variety of ways and niche.
Blockchain technology in the automotive industry is a powerful tool for smart car data storage and transmission. It can centrally store data from specific vehicles in different registries and help prevent data forgery. For example, when a particular car goes on the market, all its data will be provided to the owner, including information about its repairs and services, the number of repairs, and whether an accident has occurred.
Important players in the automotive industry have been looking for opportunities to explore blockchain technology, which is true. A few years ago, the Toyota Research Institute announced a new project that integrates blockchain into smart car technology to help maintain a registry of data exchange between smart cars. In addition, Volkswagen is developing a blockchain-based platform that enables smart cars to exchange information about road conditions. This technology can effectively help reduce accidents and facilitate the driver by guiding the driver to prepare or avoiding bad weather conditions.
Massively multiplayer online games, also known as MMOs, have become very popular worldwide. After people join the community, they can participate in a shared ecosystem and earn money or credit within the parameters of the platform. However, Horizon blockchain gaming company is trying to revolutionize online games through its Ethereum platform (called Arcadeum). Horizon is trying to change the concept of game ownership. With Arcadeum, the company has a different view of the items in the game. It determines who owns the items in a particular game, and then allows it to conduct verifiable transactions, so that the purchase and sale of items can be easily tracked from one player to another. In this project, Horizon provides players with more control by using technologies commonly associated with cryptocurrencies, thereby building game functions that resonate with users. Arcadeum Wallet serves as a secure wallet for players to store and manage their collections.
For example, the free trading card game SkyWeaver uses the Ethereum blockchain to provide players with a reliable and secure environment for them to transfer ownership of Crypto cards between each other. SkyWeaver has used blockchain technology to digitize recyclable card games.
to sum up:
For some of the world’s largest companies and several industries, blockchain is no longer the technology of the future. Many companies have understood how blockchain technology has revolutionized their business operations and processes, and some of them are already in the implementation or planning stage of blockchain-based systems.
From financial systems to healthcare, blockchain is disrupting every industry. We believe that the integration of blockchain with company systems, enterprise applications and commercial institutions will have a positive impact on the core principles of various industries that dominate the world today. Blockchain has the potential to change the industrial and commercial world like the Internet, and this transformation has already begun.