Blockchain based industry 4.0 solution by nxtbox
nxtbox combines Industry 4.0 and IIoT sensors with blockchain technology to provide data integrity for manufacturing projects across the internal and external production chain. nxtbox offers a data based management solution to streamline the productivity across the entire production chain in many branches.
The nxtbox measures the productivity, quality and the current production progress on all production lines for each individual product and components through the entire supply and production chain between all participants. All relevant data is stored in a blockchain, which ensures that the data cannot be manipulated and is accessible to all participants within the supply chain in a secured and controlled way. Besides the anonymous and secure access to the production data, the usage of smart contracts within the blockchain enables the handling of all further interactions between two parties (e.g.: if a supplier cannot fulfill the terms of agreement like producing and delivering on time or on a pre-defined quality level).
Car industry first solution
With the nxtbox it is possible for the tire manufacturer to see in real-time if a specific part from one of his suppliers is manufactured on time with the required quality. Consequently, for the car manufacturer it is possible to see if the tire manufacturer is producing on time to the pre-defined quality. This is optimizing the entire supply chain by enabling extremely fast reaction times for each party.