Of all the innovations to emerge in our rapidly digitizing world, it’s fair to say blockchain has been one of the most talked-about. Certainly, the role the technology plays in powering cryptocurrencies like Bitcoin and Ethereum has seen it feature regularly in news pages all over the world.
Yet, blockchain has the potential to be just as transformative for the manufacturing industry as it could be for financial services. Far from something ‘coming down the line’, its distributed ledger technology already offers companies a genuine way in which to drive connectedness and streamline operations like never before.
But, at the moment, that potential is going untapped. To capitalize on the possibilities blockchain offers, manufacturers have to move past the exploration phase and set the wheels of change in motion for real.