The hundred largest manufacturers in Japan, including Mitsubishi Electric and Yaskawa Electric intends to use the blockchain technology to improve productivity and reduce operating costs, according to Nikkei Asian Review.

Companies carefully guard their own data, which contain the know-how to ensure competitiveness. Safe exchange of this information is able to improve performance.

It is assumed that the blockchain-the project will allow the participants to decide how much data to share through a distributed registry, with whom to do it and whether to charge a fee for the information provided. The exchange can include data on product design, the status of the production equipment, quality assurance, etc.

As noted by Nikkei, for example, suppliers of parts can quickly start mass production, if the electronics manufacturer to share data with computerized CNC machines. If the machine tool manufacturers and their customers will communicate about how to use the equipment, they can better understand how the wear parts, and more effectively serve the equipment.

It is expected that the project will begin next spring under the auspices of the Initiative of the industrial value chain (Value Chain Industrial Initiative), launched in 2015 by a group of manufacturers in Japan to promote the “Internet of things”.

Recall that according to the forecast Reportlinker, only in the automotive and aerospace sectors by 2029 market blockchain solutions will reach $20 billion.

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