Breaking down blockchain for the manufacturing industry

Breaking down blockchain for the manufacturing industry

There is certainly a hype surrounding blockchain or distributed ledger technology (DLT), one that might put off firms from investing in and developing it. It is a new technology, with most blockchain companies only a few years old.

With blockchain, it is a case of build the technology first and then mould it to businesses, or access firms and stakeholders first and develop it to align to operations.

Many manufacturers, however, have complicated supply chains so having access to all of the necessary people involved at the same time and then agreeing on a solution is a major challenge.

But what blockchain can offer, a definitive and instant timeline of all transactions firms are involved with that cannot be manipulated, could be worth its challenges in years to come.