News

ROI Dialog – Welcome to Cryptonia

November 19, 2018

Blockchain is here to stay because it offers many advantages to supply chain management and end-to-end logistics. For one, data stored in a blockchain is tamper-proof and thus cannot be forged. Smart contracts, one feature of blockchain technology, can automatically…

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Manufacturing and logistics in the age of blockchain

November 15, 2018

CERTAINTY 1: Blockchain will not be a footnote in the history of technology In many fields, blockchain technology is still in its infancy. However, due to the degree of adoption blockchain has gotten within the financial sector thus far, one thing is certain: blockchain is here to stay. Particularly in supply chain management and production processes, blockchain offers advantages that need to be implemented…

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How Blockchain Helps Secure Product Ownership

November 14, 2018

Developing a new technology is both complicated and expensive. In most cases, innovators spend decades working on a single concept that might not even be commercially viable. Big companies have the financial muscle to pay inventors, fund their R&D, and…

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How Oracles Can Be Used For Machine-to-Machine Communication

November 12, 2018

For machines to talk to each other without manual intervention or human intermediaries, they need to be connected to the cloud or a network. This means that they need a software component that interlinks the hardware to a network. However,…

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Why Manufacturers Need a Blockchain-Based Protocol to Fulfill Production Orders

November 8, 2018

To manage manufacturing processes that turn raw materials into final products, production orders are used to streamline these processes in the manufacturing industry. The production of a particular product means that the manufacturers have to go through an extensive period…

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How Ricardian Smart Contracts Enable Blockchain Adoption

November 6, 2018

With all the fuss about smart contracts and how useful they are, they are still too basic for complex legal agreements. Fortunately, with a more complex type of smart contract–a Ricardian smart contract–it is now possible to record and enforce…

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Ricardian Contracts: Legally Binding Agreements on the Blockchain

November 3, 2018

Complexity in the global economy created the need for live contracts readable by both humans and machines. To this end, Ian Grigg, a cryptocurrency and blockchain expert successfully developed Ricardian contracts in the mid-1990s. A Ricardian contract is a legal…

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Benefits of a Blockchain-Based Manufacturing Protocol

October 29, 2018

Manufacturing is a complex process with large production orders, multiple stakeholders, multiple supply chains, raw materials, and countless machines—both large and small. A company fulfilling a production order must keep track of all these moving parts but even if they…

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Being Blockchain Agnostic Provides Flexibility for Manufacturers

October 20, 2018

There are countless blockchains in 2018, each with their own defining characteristics. For example, some blockchains are permissioned, others are completely public, and yet others are consortium (public-private hybrids). Some are proof of work while others use proof of stake.…

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The Benefits of Ricardian Smart Contracts for the Manufacturing Industry

October 18, 2018

A basic Ethereum smart contract is mainly used for escrow and payment of cryptocurrency funds based on the ETH blockchain, such as ERC20 tokens. Despite the name, a smart contract is not a legal contract—it is only meant to execute…

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Blockchain as a Security Solution for Manufacturing

October 15, 2018

Manufacturing is the backbone of modern civilization established well before the latest industrial revolution. Due to increasing demand for manufactured goods, technology companies developed more efficient machine-powered and automated manufacturing processes. Blockchain technology, including distributed ledger systems running cryptocurrencies like…

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How IoT Devices Communicate With Smart Contracts

October 8, 2018

The latest trend in the manufacturing industry incorporates advanced machine-to-machine communication in factory equipment and warehouses using smart sensors. This allows machines, Internet-connected devices, and smart sensors to talk to each other in a machine universe known as the Internet…

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