Blockchain in Industry 4.0- Part 1
The intent of Blockchain technology in industry 4.0 is to become a catalyst of trust building.
Step by step we will cover all important aspects of it.
Industrial Revolution: Industrial revolution started in 19th century. Before that everything was done manually without the involvement of machines. Today’s fourth year revolution is affecting the very essence of our human experience and transforming the business models of every industry. The revolutionary Industry journey started with Steam engine machine which is named as Industrial revolution 1.0. The idea behind the invention of a machine is to reduce Human repetitive efforts providing more efficiency and boosting productivity. As we all know, revolutionary aspect is directly associated with growth. The industry grows with productivity not just the production and consumption.
Then Industry 2.0 started with the discovery of electricity. Revolution took place when there was an invention of a disruptive technology. Because of Industry 2.0 humans started living a better life but after a certain point, humans faced efficiency lag.
To fill this lag, man introduced Industry 3.0 with the help of computers as a machine. Lot of human tasks could be performed by computers in this revolution. Till Industry 3.0, humans were putting efforts to improve productivity reducing repetitive work with the help of machines. But when it comes to Industry 4.0, it’s completely different. This revolution was not focused only on the betterment of human lives but also majorly focused on the user experience. So, the industrial revolution 4.0 is the information intensive transformation of manufacturing in a connected environment of data, people and process, services and systems and IOT enabled industrial assets with the generation, leverage and utilization of actionable information as a way and means to realize smart industry and ecosystems of industrial innovation and collaboration.