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DeFi: The Next-Gen Revolution in Supply Chain Financing

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Author: Zoe Zou

Topics: blockchain

Organizations: Tata Consulting Services

For blockchain-based supply chain financing, the principle is to leverage distributed accounting to allow more ecosystem nodes to participate and contribute the data to achieve more point-to-point interaction. Because all data on the blockchain is verified and traceable, it’s becoming an important asset in capital circulation.

Looking to the not-so-distant future, DeFi systems, if enabled with NFT (non-fungible token) based currency, can not only confirm the ownership, but also facilitate tracking. Additionally, the transaction of various NFT assets can be the basis for subdivided financial market markets accelerating the leveling of the competitive landscape.

For example, the consumers of a product can invest in a token backed up by a portfolio of the Consumer Goods company’s invoices and inventory. They can increase their investment further by using a bond token as collateral in DeFi lending protocols to obtain more liquidity. Additionally, the Consumer Goods company’s suppliers will have more efficient ways to obtain funding and optimize cash flow.

Read more at SupplyChainBrain

A new perspective on the mining industry

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Author: Fleur Doidge

Topics: Sustainability, Blockchain

Vertical: Mining

Organizations: Minexx

Certain geologies and structures ultimately have different vulnerabilities. Entering known data into a simulated environment or kind of digital twin, can help figure out the unknowns, assisting miners to decide where and how to apply their efforts. This is essential for remotely managed or autonomous vehicles that can achieve low waste, and efficient extractions in harsh or dangerous locations. Autonomous vehicles can actually extend operation hours, increasing productivity as well as reducing the use of energy hungry and personnel centred equipment. In an IoT network these may increasingly incorporate ‘intelligent’ or ‘smart’ devices that not only store or transmit but process data – as in a ‘smart factory’. “We’re seeing opportunities with sustainability oriented projects in Canada and Europe,” Sym-Smith says.

Minexx’s software platform uses blockchain digital distributed ledger, payments, biometric and IoT technologies to create much-needed trust and transparency around quality and methods of production. This helps clients manage aspects of know your customer (KYC) and anti-money laundering regulations as well, giving them and the artisanal miners access to markets and better prices. “Once data is on the blockchain, you can’t change it. Then essentially you give the manufacturer the key,” Scaramanga says.

Read more at The Engineer

The Role Of Blockchain In The Development Of The EV Industry

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Author: Naveen Joshi

Topics: blockchain

Vertical: Automotive

Organizations: Allerin

Blockchain-based applications come with a track-and-trace feature. This feature allows EV manufacturers to keep tabs on the materials as they are brought for production. Certain types of materials, such as wolframite and cobalt, are sourced from hard-to-trace developed countries. Such materials change hands several times before they’re brought to factories for processing and production. Therefore, blockchain is useful to accurately store the provenance-related details of raw materials so that the manipulation of such materials coming from such sources can be prevented. Using blockchain for EV production also enables manufacturers to monitor any diversions while materials are being brought into factories for EV production. Blockchain-enabled tracking allows EV manufacturers to react to vehicle recalls in a cost-effective way. If there are any material issues that require vehicles to be recalled, the manufacturers can call back only those EVs that were built using parts or materials from the partner who supplied them. This makes your supply chain much leaner and cost-effective. A leaner supply chain results in lower production costs for EV makers.

Read more at Forbes

IoTeX Blockchain Explained Simply - Smart Contracts, EVM, MachineFi and More

Using blockchain to share and monetize telecoms assets

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Topics: blockchain, 5G, IIoT

Organizations: Weaver Labs

Weaver Labs will be the open telecommunications partner in the Track & Trust project, which aims to deliver a scalable, cost-efficient communications platform and network combining satellite, IoT mesh and blockchain components, serving mostly supply chain use cases. The end solution will be a modular product that will provide a plug and play communication network that allows for end-to-end tracking of the supply chain. This will start from the initial supply of goods/aid and extend all the way to the last-mile shipments, even when limited or no telecommunication infrastructure is available.

Read more at Embedded

Using blockchain technology to protect robots

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Author: Adam Zewe

Topics: blockchain

Organizations: MIT, Polytechnic University of Madrid

The use of blockchain technology as a communication tool for a team of robots could provide security and safeguard against deception, according to a study by researchers at MIT and Polytechnic University of Madrid. The research may also have applications in cities where multi-robot systems of self-driving cars are delivering goods and moving people across town.

A blockchain offers a tamper-proof record of all transactions — in this case, the messages issued by robot team leaders — so follower robots can eventually identify inconsistencies in the information trail. Leaders use tokens to signal movements and add transactions to the chain, and forfeit their tokens when they are caught in a lie, so this transaction-based communications system limits the number of lies a hacked robot could spread, according to Eduardo Castelló, a Marie Curie Fellow in the MIT Media Lab and lead author of the paper.

Read more at Plant Engineering

Blockchain and the Pharmaceutical Industry

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Author: Georgia Wilson

Topics: blockchain

Vertical: Pharmaceutical

Organizations: Avanir Pharmaceuticals

“Blockchain can help ensure that there is reliable, accurate data and a single reliable version of the truth that is shared by every participant in the pharmaceutical manufacturing and supply chain. It can increase end-to-end visibility of the supply chain with data. Blockchain can bridge barriers between stakeholders by giving all parties the same, real-time, accurate view of the supply chain. This is an important factor for ensuring manufacturing and supply chain robustness,” says Arul Joseph, Senior Director, Pharmaceutical Development and Clinical Supply Chain, Avanir Pharmaceuticals.

Read more at Manufacturing Global

Here's How to Prepare for Blockchain

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Author: Jim Biehl

Topics: blockchain

Organizations: Automation Alley

The potential benefits of blockchain technology for manufacturing cannot be denied. Imagine being able to track your products from raw materials to final use in the event of potential contamination or a critical product recall — something that can cost companies on average more than $8 million.

Many manufacturers use blockchain beyond the traditional tracking of financial transactions and accounting records. Manufacturers can use the technology to store legal contracts, track product inventory and monitor movement along the supply chain

Read more at Automation Alley

The Machine Economy is Here: Powering a Connected World

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Author: Megan Doyle

Topics: IIoT, machine learning, blockchain

Organizations: Flexon Technology, Allied Vision

In combination with the real-time data produced by IoT, blockchain, and ML applications are disrupting B2B companies across various industries from healthcare to manufacturing. Together, these three fundamental technologies create an intelligent system where connected devices can “talk” to one another. However, machines are still unable to conduct transactions with each other.

This is where distributed ledger technology (DLT) and blockchain come into play. Cryptocurrencies and smart contracts (self-executing contracts between buyers and sellers on a decentralized network) make it possible for autonomous machines to transact with one another on a blockchain.

Devices participating in M2M transactions can be programmed to make purchases based on individual or business needs. Human error was a cause for concern in the past; machine learning algorithms provide reliable and trusted data that continue to learn and improve — becoming smarter each day.

Read more at IoT For All

Evolution of Machine Autonomy in Factory Transactions

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Author: Stephanie Neil

Topics: IIoT, blockchain

Organizations: Industrial Internet Consortium, IOTA Foundation, Siemens, IBM

So while we’ve not completely entered the age of the machine economy, defined as a network of smart, connected, and self-sufficient machines that are economically independent and can autonomously execute transactions within a market with little to no human intervention, we are getting close.

The building blocks to create the factory of the future are here, including the Internet of Things (IoT), artificial intelligence (AI), and blockchain. This trifecta of technology has the potential to disrupt the industrial space, but it needs to be connected with a few more things, such as digital twin technology, mobile robots, a standardized way for machines to communicate, and smart services, like sharing machine capacity in a distributed ecosystem.

“The biggest obstacle is culture,” said IIC’s Mellor. “The average age of the industrial plant is 19 years. These are huge investments that last for decades. The organizations that run these facilities are very cautious. Even a 0.5% chance of failure can cost millions of dollars.”

Read more at AutomationWorld