A Recent Example of Blockchain’s Use-Case and Implementation in Industry
In a recent posting, we talked about some of the uses for blockchain technology in a variety of industries. This week we’ve seen a perfect example that illustrates a blockchain use-case for the logistics industry. Let’s take a look at the recent IBM development and what that means for the industry.
Computer Built for Blockchain Use
International Business Machines Corporation (IBM) just released a new computer at the IBM Think Conference 2018 and it’s ready for the blockchain! Unlike the “Thinkpads” and workstations many already know IBM for in the past, this new computer is much smaller. Coming in at roughly the size of a large grain of salt, this new microcomputer is going to be a big deal.
This “world’s smallest computer” is purpose-built with one thing in mind: the blockchain. But what does that mean?
How Will it be Utilized?
After the announcement, IBM has been showing off the tiny little computer and showcasing how it can be used. This minuscule chip is making big advancements in the supply chain management sector.
Because of the size of the computer, companies can use it for all sorts of products. The little computer is built specifically for the blockchain, meaning it works with other computers in the network to achieve consensus and stay up to date.
By utilizing “crypto-anchors,” IBM is working to “unite against counterfeiters.” The crypto-anchor system is developed to ensure a product’s authenticity from the manufacturing of the good all the way to the sale of it.
When attached to products, the computer can track information relevant to supply chain logistics. Using the blockchain, the chip will be able to sort data with artificial intelligence (AI) and provide companies with more information to detect fraud and theft, on top of the data tracking it’s already doing. Manufacturers will have access to important information at the touch of a finger. Between knowing where products are, when they got there, and allowing retailers to know about the authenticity of a product, the small chip is likely going to pay for itself after early use.
Another benefit of the new computer is the price. According to the release, the new computer is set to run for just around $0.10 a piece. That’s a pretty affordable computer.
Blockchain Use for Industry
Though the computer is small, the implications are large. By having a major tech company like IBM implement blockchain technology in their products, we’re likely to see growth for the industry as a whole. Manufacturers and producers are just now starting to realize many of the benefits of the new tech and new uses are being created for it everyday.
These uses aren’t just speculative pricing around coins either. The technology being used in the industry is providing an application for the movement that solves real-world problems and improves previous pain points. If the current way of doing things can be improved drastically with updated distributed ledger technology, then why shouldn’t industries adopt new blockchain-ready products?
Be on the look out for new uses coming to mainstream companies and businesses in the near future. IBM’s development is still part of the “early adopter” portion of implementation and there are certainly new uses coming to the markets in the future.
The verdict? Bullish on blockchain.