How Distributed Ledger Technologies affect business models of manufacturing companies

Abstract

Industry 4.0 is characterized by the transformation and networking of production systems as a result of utilizing digital technologies and processing huge amounts of data. The features of Distributed Ledger Technologies have the potential to revolutionize production by creating trust and transparency in stored data, eliminating dependence on single entities and performing automated transactions in real time. Due to the disruptive change coming with an implementation, manufacturers remain skeptical about the technology. To raise awareness of the potential of Distributed Ledger Technology, this paper describes valid use cases and examines the interactions with business models in real world manufacturing scenarios.