Blockchain Technology Applications for Industry 4.0

Abstract

Abstract: Blockchain: Industry 4.0 involves innovations with upcoming digital technologies, and blockchain is one of them. Blockchain can be incorporated to improve security, privacy, and data transparency both for small and large enterprises. Industry 4.0 is a synthesis of the new production methods that allow manufacturers to achieve their target more rapidly. Research has been conducted on various Industry 4.0 technologies like Artificial Intelligence (AI), Internet of Things (IoT), Big data, and Blockchain, and how they could create significant interruptions in recent years. These technologies provide various possibilities in the world of manufacturing and supply chain. Blockchain is a technology that has gained much recognition and can enhance the manufacturing and supply chain environment. Various fields now have fascinating insights into the advantages of blockchain. Several research articles on “Blockchain” and “Industry 4.0” from Google Scholar, Scopus, and other relevant sources are identified and reviewed for this study. This paper discusses the major potential of Blockchain in Industry 4.0. Various drivers, enablers, and associated capabilities of Blockchain technology for Industry 4.0 are discussed for insights. Different Industry 4.0 spheres/sub-domains for Blockchain technology realisation are also discussed. Finally, we have identified and studied fourteen significant applications of Blockchain in Industry 4.0. It is a range of new developments and hope for immense opportunities that are changing Industry 4.0. This technology would work to achieve amplified outcomes and work individually to enhance the process. Keywords: Education, Online Product learning, Ledgers, Bitcoin, Blocks, Smart Contracts, EOS.