Event review : The development opportunity of blockchain and the Industrial Internet

The Online meetup of ‘The development opportunity of blockchain and the industrial Internet’ hold by Mr.Li and our members ended successfully.

Industry 4.0

With the proposal of the fourth Industrial Revolution, the concept of industry 4.0 has gradually attracted global attention. If each revolution is the innovation and productivity liberation of the previous industrial age, what does industry 4.0 mean compared to Industry 3.0?

The keywords of industry 3.0 (information age) are scale, automation, and informatization. In the centralized management mode, through automation and partial mechanization, factors of production are scaled. The problem is that each production layer is isolated and and there is a lack of intelligent control and coordination within each layer as well.

Therefore, Industry 4.0 began to solve the left problems of Industry 3.0. Under decentralized management, each production layer can automatically coordinate production behaviors with the assistance of AI embedding. Services can be standardized, barriers can be broke, and information can be shared among various elements. Besides, the production line has higher strain capacity and can implement customized production according to the actual situation at any time.

For example, in industry 3.0, due to the low strain capacity, garment manufactures are basically artificial production, with little use of machines. The fashion changes so quickly that the machine cannot follow this change. In order to make the assembly line produce customized products, in addition to the special design of production units, we still need to rapidly “train” the machine to fit the fast change of the production lines. This can break through the scarcity or the limit of the production factors, and alter the production into data driven production services  It also can break through the restriction of produced goods, start from the demand side of consumption to the production side. It can also adjust the production factors and expand the service.

standardization through the intelligent conduction mode of the end. In the era of Industry 4.0, the three characteristics of the Industrial Internet are interactivity, sustainability, and autonomy (data monitoring). With the support of these three characteristics, the controllability and intelligence of industrial production will be promoted to a higher level. New services based on user demand can be produced on a large scale, and GDP growth is no longer limited to resources, effectively saving costs and improving efficiency.

What role does blockchain play in Industry 4.0?

As a technology of decentralization service, blockchain has the characteristics of anti-counterfeiting, anti-tampering, and traceability, which help to solve the problems of equipment management, data sharing, multi-trust collaboration, and security. It can promote  production efficiency, reduce cost, enhance the level of supply chain collaboration and efficiency.

The activity put forward that blockchain mainly undertakes the tasks of data storage, privacy protection, token, and payment in the industrial Internet, which are mainly reflected in the following aspects. First, distributed ledger technology enables non-commercial secret data to be stored and backed up in participating nodes, which solves the problem of supply chain information storage. Second, under the blockchain framework, the information system can constrain the behaviors of participants, and ensure the privacy of data by integrating relevant transaction data on the chain.

Third, smart contracts are added to form relevant tokens and simplify the payment process. When the execution conditions are met, it can be automatically executed to prevent performance risks.

The activity lasted for one and a half hours and deeply discussed the close connection and great significance between blockchain and industrial network Internet. In the future, OUMI Reading Club will hold more exchange activities to jointly explore the new trend of the industry.

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