According to industry analysts, blockchain technologies have the potential to dynamically change the production process. Examples of leading vendors are IBM Blockchain, which can be used to help reform the supply chain and improve identity and data management, and Blockchain Foundry, which develops blockchain-based services for prototypes and production for production applications. Other examples are with BigchainDB, which offers scalable and chain blockchain services, which is a blockchain platform for financial services, as profiled by ZDNet.
Defined by Stephanie Neil, who is an editor of Automation World, blockchain is "an unalterable peer-to-peer record registration system that allows communities to record and share information securely." Blockchain is better known as the main component of the Bitcoin digital currency: Each validated Bitcoin transaction creates a block, which connects to the chain of blocks before it, thus creating an easy path to follow. "
With the new development, the chief researcher Binil Starly provides more details on the new blockchain for the production concept: "A public network like the one we are proposing could help potential customers to find the producers with the relevant skills and equipment in an efficient way. ".
The new idea is called FabRec and would allow companies to automatically report data related to their production activities. This would extend to the types if you use machines; the materials used; inventory levels of raw materials; process execution times and so on.
FabRec is a prototype network accessible to the public. At present, the system is restoring input from various industrial machines as part of the overall development of the system.