Elemica at the 23rd Annual ARC Industry Forum
The 23rd Annual ARC Industry Forum took place in Orlando, Florida this week. Industry leaders gathered to learn more about how digitizing factories, cities, and infrastructure will benefit technology end users and suppliers alike.
Gary Neights, Elemica’s Senior Director, Product Management, was a featured panelist on, Blockchain Emerges in Process Manufacturing – Here’s What You Need to Know. Gary spoke alongside:
- Peter Reynolds, ARC (moderator)
- Jan Erik Johansson, Tata Consultancy Services (panelist)
- Davide Picciotto of Siemens (panelist)
- Matthew Gregory of Ockam (panelist)
- Ganesh Wadawadigi of SAP (panelist)
This panel explored emerging applications for blockchain. With blockchain, each step in the supply chain adds to the accumulated data and is stored in a “block” that all participants can view. New transactions are added as they occur to make a “chain.” Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Copies of this block of transactions are stored in multiple nodes. These blocks are compared to determine if one has been tampered with, and only the consistent blocks continue to be used. Proof of concept trials to apply blockchain for authentication and security of supply chains has begun. These trials are providing excellent insights and blockchain may eventually become a means to assure the integrity across the manufacturing value chain.