Blockchain can be used to monitor the processes and activities in daily work processes, which is expected to bring the following benefits to FPC enterprises:
Blockchain brings five benefits to FPC enterprises
- Strengthen FPC enterprise accountability and quality control:
Blockchain records can attach a unique label to each transaction, and can add new responsibility levels and quality assurance to a single centralized digital record.
- Improve FPC enterprise contract management and procurement:
Blockchain introduces the concept of modern smart contract. Smart contracts can arrange necessary logistics in real time, such as payment and transportation, to simplify operations on behalf of all relevant personnel of FPC enterprises.
- New Scalable Choices:
In the past, many manufacturers operated in the face of banks, and their new plans and acquisitions of partners were controlled by banks. Blockchain can directly return these powers to manufacturers from banks. In view of the rapid development of blockchain and the early acceptance of ordinary computer users, blockchain may soon become the backbone of the entire enterprise.
- Introducing new security into the supply chain:
Although the current application is very strict and limited, the blockchain is very flexible. Professionals who are highly creative and proficient in technology are already developing new applications for this technology, including in supply chain management. IBM, SAP and Oracle have established blockchain platforms to support future applications.
- Protect billions of devices:
According to the latest data, by 2020, there will be about 24 billion devices connected to the Internet, including billions of Internet of Things systems. This requires not only improving network security, but also improving efficiency in processing data, monitoring online activities and verifying records.
Some possible uses of blockchain in Industry 4.0 include remote identification and confirmation of IoT devices through blockchain. Attach tamper proof dates and times to records to prevent editing or manipulation. Switch to private blockchain to share classified or sensitive information between FPC enterprise business partners and executives.