Japanese manufacturing organization will start to share information utilizing blockchain from next spring. Members incorporating Mitsubishi Electronics, Hitachi, tools producer DMG MORI and manufacturing robotics technology organizations FANUC and Yaskawa Electric will join the project. The venture is supported by Japan’s Ministry of Economy Trade and Industry (METI)
Nikkei Asian Report, there is a possibility that at least 100 manufacturers plan to utilize blockchain technology securely share their production data with each other, Mitsubishi Electronics, Hitachi, DMG Mori, Yaskawa are among those who are expected to Join this project. But blockchain technology will be used to enable companies to share the data and ensure it hasn’t been tampered with.
The project will utilize the blockchain innovation to lower data risk and diminish task expenses, expects to upgrade the manufacturing business industry of Japan by luring organizations with advanced productions technology while attracting small players with no more investment fund.
The organization involving in this project can choose how much data they will share including item plan, information, creation status, and quality assessment information. They can likewise pick which firms they expect to impart their information to and decide if they will charge an expense to provide the information. The Industrial Value Chain Initiative (IVI) is supervising the project. In 2015 the IVI was set up by METI and the Japan Society of Mechanical Engineers aiming to foster collaboration between its members. Indeed, its mission is to improve how information is shared along the supply chain. The IVI also published a paper outlining how to implement data-sharing between the companies. Before data can be shared via a blockchain, it’s critical to establish standards.
There are already existing examples of company organizations using industry 4.0 technologies to increase overall production efficiency and quality. Two examples are the US’s Industrial Internet Consortium and Germany’s Plattform Industry 4.0. The latter is especially keen to encourage SME’s to join the sharing of data. There are various blockchain tests in the manufacturing segment. GE Research is investigating transmitting 3D structures utilizing the blockchain to guarantee the plan isn’t changed in transit. Another part of GE, this time GE Ventures has upheld Xage to utilize the blockchain to verify mechanical establishments. What’s more, in Germany, startup Next Big Thing is investigating the combination of IoT and blockchain for manufacturing.
This is likewise the situation for the Japanese venture. The expectation is that small organization’s with less capital investment will profit from data sharing to bigger partnerships, consequently boosting the more extensive manufacturing industry in Japan.