QANplatform Use Case Story: Manufacturing
Learn about blockchain use cases in the manufacturing sector and why building quantum-proof blockchain solutions is essential.
In the manufacturing industry, blockchain technology is gaining relevance as companies have begun to employ its framework in various areas of production, thereby strengthening the entire process of manufacturing raw materials while reducing the cost of labor.
Read on to find an overview of the manufacturing sector, how blockchain technology is disrupting, and the role QANplatform can play here.
An Introduction to the Global Manufacturing Industry
Manufacturing is the production and processing of raw materials into finished usable products through manual or high-tech equipment. It generally consists of all the processes involved in production, from the initial stage of providing raw materials to their processing and their final state of becoming finished products.
Manufacturing as we know it today received its advancement during the first and second industrial revolutions when the production of raw materials shifted from human efforts to the use of machines and tools. The latter part of the 18th century and early 19th century saw the involvement of steam-powered machines in production. By the 20th century, electricity had a major break around the globe leading to electrical equipment and machines taking over and improving the process of manufacturing
Today, many manufacturing processes adopt high-tech machines that help shorten the time frame of manufacturing raw materials while producing quality products.
Manufacturing is currently a strong part of the global economy. In 2019 alone, the United States manufacturing sector added $2.35 trillion to the gross domestic profit of the nation, which is only second to China, the leading manufacturing nation with 28.7% of the global manufacturing output, valued at $4 trillion.
How Blockchain is Disrupting the Manufacturing Sector
Blockchain technology possesses various features that can support the manufacturing sector of many world economies. Implementing blockchain into industrial systems and portfolios can influence better production of raw materials and channelling of finished products.
Blockchain technology improves the storage of manufacturing records through an immutable distributed ledger. It also saves the cost of time in rendering services and making payments towards the production process.
Below, we explain in more detail the impact of blockchain technology in the manufacturing industry.
Proper storage of manufacturing records
Blockchain technology’s immutable structure can support secure storage of information, including records of production and shipments of raw material or finished products. Companies can capitalize on this feature of blockchain technology to safeguard their production records for easy checking at required times.
The supply chain of a company requires speed and easy networking. Blockchain technology provides better product networking and structures that allow companies to keep track and trace goods that are moving, trace their content and authenticity and ensure that there is no error in the supply of finished products.
Blockchain technology can also help large-scale companies keep track of their container shipments without worrying about the safety of their goods. Integrating blockchain with IoT systems can transmit the health of shipments on-chain for all parties to track.
Enhancing partnerships in trading
Blockchain strengthens large-scale relationships among production companies. This is because the decentralized structure of most blockchain networks cuts off the long process of signing contracts and storing them in long singular files. Through blockchain technology, seals of a partnership agreement can easily be stored on-chain.
Breaking financial barriers
Blockchain allows better visibility, making it easier to identify lagging financial blockades and easily scrap them out. It can also help to remove disputes between trade partners.
The use of smart contracts in manufacturing allows companies to leverage on saving costs for production and logistics by reducing the involvement of third parties in the process.
Faster awareness in supply chains
Blockchain technology allows for quick supplier awareness and check-ins to prevent fraudulent transactions. It also helps suppliers to easily access important product information, ensuring a better trust environment for businesses.
Blockchain technology can help alleviate the ineffectiveness of machines in industries. It can do this by preventing failures of the machines and, powering production by keeping records of schedules involving their maintenance and checkups.
Smart contracts can also be designed to notify engineers when a machine stops working. AI technology can further help this process by analyzing machine data stored on blockchains to predict important suggestions that will increase efficiency of such machines.
Blockchain Use Case in Manufacturing
Below are a few companies using blockchain technology to improve their manufacturing process:
Responsible Sourcing Blockchain Network (RSBN), created by IBM, is a network that helps to secure easy mining and sourcing of cobalt. The network creates trust and reliance for companies using the technology as it displays transparency and visibility of the process to trading partners. The network also helps to keep records from the initial mining of raw materials to the finished product and during the supply stage while ensuring that confidential facts, certificates, and other important information are stored.
The Abu Dhabi National Oil Company has developed an automated system based on blockchain technology. The systemr streamlines oil and gas production from its initial stage to its supply, tracks the financial utility of the transactions being made by the company, and stores the data securely.
The oil giant Shell is currently working on several blockchain projects that will operate at different stages — from proof of value to proof of concepts. One of the blockchain solutions Shell is working on focuses on the use of digital passports for equipment to create a more transparent supply chain. Another, the Energy Web Foundation, enables customers to track energy certificates from the source and verify their origin whether it’s from a renewable source or not.
Berstern Technologies have made use of a blockchain system to enhance IP authenticity. This was done by opening a web service for customer registration that runs on blockchain technology. This service also issues certificates to assure customers of the legitimacy of their ownership of an IP.
Vinturas has been able to create a digital network solution that enables a network for serialized assets. This network helps to keep track of the supply chain system of automobiles by providing real-time end-to-end visibility of the supply chain.
Building Manufacturing Blockchain Solutions on QANplatform
Manufacturing blockchain solutions can become even more secure and achieve better efficiency with QANplatform. To build secure manufacturing blockchain solutions, QANplatform is changing the landscape through cutting-edge techniques.
QANplatform is a hybrid layer 1 blockchain that allows developers to build quantum-resistant manufacturing blockchain protocols in any programming language by leveraging its innovative capabilities.
A hybrid blockchain is best defined as a blockchain that attempts to use the best aspects of both private blockchain and public blockchain solutions. Most blockchains are either public or private. There is currently a lack of hybrid blockchain solutions, which is a must for facilitating enterprise mass adoption.
QANplatform employs a unique Lattice-based post-quantum cryptographic algorithm implemented in Go programming language to protect solutions built on its blockchain against the future attacks of quantum computers. NIST recommends CRYSTALS-Dilithium as the primary algorithm for quantum-resistant signatures — the one QANplatform has chosen before the standardisation process ended. QANplatform has already implemented CRYSTALS-Dilithium in the QAN TestNet in January 2022.
QANplatform also utilizes a Proof-of-Randomness (PoR) consensus mechanism that combines the best part of Proof-of-Work (PoW) and Proof-of-Stake (PoS) to reach consensus in a sustainable and democratic manner. This enables automotive solutions built on its platform to function in a decentralized manner without posing threats to the environment. Moreover, anyone can become a validator in the network using a mobile phone or Raspberry Pi.
Additionally, QANplatform uses a unique Multi-language Smart-Contract Development Methodology that allows over 28 million developers to code in different Linux Kernel compatible languages of their choice; like C, C++, Java, TypeScript, Go, Rust, PHP, etc. This reduces the barrier of entry in building blockchain solutions and promotes ease of use for developers. Developers can quickly deploy QAN private blockchain on major cloud platforms like Microsoft Azure in under five minutes through QANplatform’s unique Rapid cloud platform deployment.
QANplatform further boosts the speed in adopting its platform for building manufacturing solutions through integrations to the Ethereum virtual machine (EVM), DevOps technologies (Docker, Kubernetes), Indexing and Oracle APIs (Chainlink, Band Protocol), and other major cloud platforms (Microsoft Azure, Amazon AWS, Google Cloud Platform, DigitalOcean, or Linode, etc.).
Another interesting feature of QANplatform is the rewarding of developers after each new smart contract deployment and a royalty-based structure for each MainNet transaction where their code part is reused by other developers.
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QANplatform is the quantum-resistant Layer 1 hybrid blockchain platform that will allow developers and enterprises to build quantum-resistant: smart contracts, DApps, DeFi, DAO, NFT, tokens, Metaverse, and Web3 solutions on top of the QAN blockchain platform in any programming language.
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