Japanese Manufacturers To Use Blockchain To Share Production Data

Blockchain, News | June 17, 2019 By:

A group of major Japanese manufacturers will reportedly use blockchain technology to share production data with each other to improve efficiency.

Local news outlet Nikkei Asian Review reported that more than 100 manufacturers, including Mitsubishi Electric, DMG Mori and Yaskawa Electric, are joining a blockchain initiative to share data. The project, which is expected to begin next spring, will allow participants to decide how much data to share, whether to share it with one or more companies, as well as whether to charge a fee for the information. The sharing will include product design data, the status of production equipment and quality inspection information.

The blockchain initiative will be overseen by the Industrial Value Chain Initiative, a manufacturers group that launched in 2015 to promote Internet of Things (IoT) in Japan. The objective of the initiative is to lift Japan’s manufacturing sector as a whole by attracting big corporations with advanced production technologies as well as smaller players that are unable to invest large sums.

According to Nikkei, blockchain technology is expected to lower the risk of data leaks compared with managing the information on servers, as well as reduce operating costs.