Many companies across industries are implementing blockchain technology to secure their business application and processes. Manufacturing companies have also turned to blockchain in order to secure smart manufacturing systems using the digital thread.
Blockchain technology is a distributed and decentralized list of records that allows a user to store information in an expandable list of connected blocks. Information once entered into a blockchain network cannot be altered as it requires altering all the subsequent blocks in the network.
Digital threads guide a manufacturing company through the entire manufacturing life cycle of a product. It relies on a set of 3D digitized instructions that can be electronically exchanged and processed throughout the product life cycle, which enables manufacturing companies to save time and money. Digital threads also eliminate the risk of human error in the manufacturing process. The process in digital threads is aligned chronologically, which makes blockchain an ideal technology to provide a digital thread network. The technology has already proved its mettle by providing adequate security features to cryptocurrencies, which can be availed by the digital thread network for smooth functioning. For example, if a manufacturer is making a part of the product and they receive a specification for the product from the designer using blockchain network, then they can be sure that the data has not been meddled with. All the blocks in a blockchain network have a time stamp and are tamper resistant, which makes blockchain a robust solution to authenticate data at any point during the entire life cycle of a product.
Blockchain can also help smart manufacturing by mitigating digital threats like product data theft, tempering, and corruption. Blockchain technology provides a fingerprint to all the files, so even if a data thief grabs a file, they won’t be able to authenticate it. The technology offers many other innovative solutions that can help effectively in business growth.