The first generation of the Internet originated from the TCP/IP protocol, which is an open code that implements a uniform format for peer-to-peer transmission of information among all nodes on a network. But such a seemingly simple innovation has an epoch-making impact on human beings, because it makes the basic values "freedom, equality, and fraternity" required by the globalized market programmed, agreed upon, and executable. Furthermore, STMP mail protocol, HTTP domain name protocol, etc. are derived, which realizes the low cost and high efficiency of global information transmission.
From supply chain management to leasing and even the Internet of Things, Frost & Sullivan is looking to provide a comprehensive overview and in-depth investigation of multiple aspects of the automotive industry where blockchain is seen as a potential disruptor. At the time of this report, industries outside of financial services and related businesses are showing unprecedented interest in blockchain technology. With the release of the Frost & Sullivan report, the automotive and manufacturing industries have begun to collaborate with the music and media industries, which are feeling the heat of blockchain outside the lab or R&D environment.
However, the first generation of the Internet solved the cost and efficiency of information transmission, but there was no way to solve the problem of information credit. Without credit, information lacks value support. Therefore, what the second-generation Internet must break through is: how to establish global credit in a decentralized manner? To make value transfer as low-cost and efficient as information transfer, this is the historical mission of the blockchain.
While the basic technology behind blockchain remains the same, it has different capabilities when used in an industrial setting. Blockchain can be used to monitor processes and activities in day-to-day workflows and is expected to bring several benefits:
1. Strengthen accountability and quality control:
Blockchain records can attach a unique tag to each transaction that occurs, adding a new level of accountability and quality assurance to a single centralized digital record.
2. Improve contract management and procurement:
Blockchain introduces the concept of modern smart contracts. Smart contracts can arrange necessary logistics such as payment, shipping, etc. in real time to simplify operations on behalf of all involved.
3. Extensible new options:
In the past, many manufacturers operated on the bank's radar, with the introduction of new programs, acquisition of partners, etc. controlled by the banks. Blockchain could hand these powers back from the bank directly to the manufacturer. Given the rapid pace of blockchain development and early acceptance by the average computer user, it may not be long before blockchain becomes the backbone of an entire enterprise.
4. Introducing new security into the supply chain:
While the current application is very rigid and very limited, blockchain is very flexible. Highly creative and tech-savvy professionals are already developing new applications for this technology, including in supply chain management. Companies such as IBM, SAP and Oracle have built blockchain platforms to support future applications.
However, blockchain platforms still have some data security and confidentiality issues that must be addressed before blockchain can realize the full potential of Industry 4.0. There are numerous creative uses of blockchain technology in the Industry 4.0 environment, depending on the specific needs of manufacturers. But before the conversion is complete, some fine-tuning is required.
5. Protect billions of devices:
According to the latest figures, some 24 billion devices will be connected to the Internet by 2020, including billions of IoT systems. This requires not only increased cybersecurity but also greater efficiency in processing data, monitoring online activity and verifying records.
At present, blockchain technology is regarded by many large institutions as a major breakthrough technology that completely changes the way businesses and institutions operate. At the same time, just like cloud computing, big data, Internet of Things and other new generation information technologies, blockchain technology is not a single information technology, but relies on existing technologies, combined with originality and innovation, so as to achieve previously unrealized function.