How Blockchain is Enabling Industry 4.0 Across the Supply Chain
One of the best ways to learn about blockchain is to attend conferences and meetups. Here you have an opportunity to listen and learn from leaders in the field and build your network with like-minded people in the industry. This is why last week I attended The Hard Forked Decentralised conference in London run by The Next Web.
The conference was decentralised in its very nature as they had multiple events occurring all across London during the 3 days event. This meant you could pick and choose the events you wanted to go to!
I had the opportunity to attend a number of attends that caught my interest and met some leading figures and influencers in the blockchain space.
Here is a summary of my key takeaways for an event I attended that discussed the use of blockchain in the supply chain.
The blockchain is enabling new models outside the financial industry and this is where all the exciting stuff is now happening. The financial world was just one use case and we can see that there will be many more use cases in other industries.
We will see an increase in blockchain applications and solutions being rolled out across Enterprise in areas such as carbon footprints, electric grids and developing nations. In fact it is the developing nations that will come up with the most exciting and feasible use cases as they have a greater need for transparency in their industries.
Though there is a lot of noise in this space with regards to cryptocurrencies and the volatility in the markets creating millionaires or losing people their wealth, the upside to this is that it has bought mainstream attention to this sector which is creating more conversations around the possibilities of crypto and blockchain.
Predictions for 2019?
There remains a lot of noise and hype in the sector but it will calm down. We will see more concise propositions coming to market and the scams unable to sustain themselves will fall by the wayside.
We will see more consortium types of models within industries emerging. They will come together to create solutions to the common problems they face. However, blockchain is not a single standalone solution. We will see it being combined with other technologies such as IOT, sensors, machine learning and AI. The blockchain is just one piece of the model.
We may see the standardisation of technology occurring which will also see some frameworks and widely adopted norms coming to fruition (similar to what IBM is doing with HyperLedger)
We will see more development tools being built on top of the blockchain especially with ethereum.
It was really interesting to hear how supply chains will be able to include blockchain in their processes. An increasing amount of businesses will continue experimenting with blockchain use cases.
In 2017 and 2018, blockchain was more of a buzzword and something businesses felt they had to do in order to keep up the pace with everyone else. But now we will see businesses looking into using blockchain more seriously and coming up with credible use cases. We will also see more business-minded people coming into this space to drive more solutions and results.
How do you think the blockchain will enable Industry 4.0 across the supply chain? Leave your comments below.
Written by Sukhi Jutla
An IBM Blockchain Foundation Developer, she made global headlines in April 2018 when she became the World’s First #1 Bestselling ‘Blockchain’ Author. She has authored two more books and is the co-founder of MarketOrders, the online B2B marketplace for gold jewelry and diamonds. As a female tech ambassador, Sukhi is a regular keynote speaker and passionate about supporting female entrepreneurship. She is an IBM Blockchain Foundation Developer and her efforts have been recognized by a number of industry awards including the Asian Women of Achievement Awards, We Are The City Rising Stars Award, Management Today’s “35 Women under 35”; and listed as one of the Top 100 Asians in UK Tech. In April 2018 Sukhi made global headlines when she became the World’s First #1 Bestselling ‘Blockchain’ Author. Named as one of the 50 most influential people in Blockchain.