Utilising financial blockchain technologies in advanced manufacturing

Andrews, Colin and Broby, Daniel and Paul, Greig and Whitfield, Ian (2017) Utilising financial blockchain technologies in advanced manufacturing. [Report]

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    Abstract

    In this paper, blockchain is explored from the perspective of what can been learnt from research conducted in financial markets. It is concluded that the digital aspirations of what has come to be termed “Industry 4.0” could be enhanced by the application of blockchains in advanced manufacturing. Our core finding is that blockchain can be used to provide advanced manufacturers with secure ownership verification, parts and order validation. We have learnt from financial applications that blockchain can offer a robust and resilient method of record history indexing that can be distributed and stored over the internet. We advise, however, that It is not as scalable a storage tool, as is widely perceived. Stored information must be carefully considered by manufacturers. We suggest that it is its data management capabilities that make it useful in the advanced manufacturing.

    Author(s):Andrews, Colin ORCID logoORCID: https://orcid.org/0000-0001-9481-9153, Broby, Daniel ORCID logoORCID: https://orcid.org/0000-0001-5482-0766, Paul, Greig ORCID logoORCID: https://orcid.org/0000-0002-6070-3192 and Whitfield, Ian ORCID logoORCID: https://orcid.org/0000-0002-1065-0395
    Item type:Report
    ID code:61982
    Keywords:blockchain, advanced manufacturing, Fintech, Manufactures, Industrial and Manufacturing Engineering
    Subjects:Technology > Manufactures
    Department:Faculty of Engineering > Design, Manufacture and Engineering Management
    Strathclyde Business School > Hunter Centre For Entrepreneurship
    Strathclyde Business School > Accounting and Finance
    Faculty of Engineering > Electronic and Electrical Engineering
    Strategic Research Themes > Advanced Manufacturing and Materials
    Depositing user: Pure Administrator
    Date deposited:09 Oct 2017 15:44
    Last modified:08 Nov 2019 04:15
    URI:https://strathprints.strath.ac.uk/id/eprint/61982
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