Role of Blockchain in Automation of Trending Industrial Technologies

The distributed ledger aspect of blockchain technology has transformed traditional trade; each record in this ledger is secured by cryptographic technique, making it more protected and tamper-proof, and the technology is currently attracting more and more attention. Despite warnings of blockchain’s doom, the technology has made tremendous strides and introduced game-changing innovations to the world of digital currency and transactions. Artificial Intelligence (AI), edge computing, machine learning, robotics, cyber physical systems, Industrial Integration (II), and Service Oriented Computing are some of the emerging technologies that support Industry 4.0. The majority of industrial data management systems are centralized and do not provide the capabilities necessary to guarantee trustworthy data provenance, immutability, transparency, auditability, or traceability. A new and potentially gamechanging technology, blockchain promises to decentralize and secure all data and transactions without the interception of trustworthy authority, all while providing trustworthy traceability, transparency, auditability, and immutability. The groundwork for presenting and showing the role of blockchain technology in various scenario is covered in this article. Moreover, we go into key ideas behind industry 4.0 and how this trending technology may be used to its advantage. We investigate many potential applications of blockchain technology to promote the growth of Industry 4.0.