Jul 8 / 2019
Latest News / Blockchain news/ IoT

100 Japanese entities partake in data sharing initiative

Manufacturers will use blockchain technology to share and secure sensitive information

A new project to share and secure data has been launched in Japan. Up to a 100 major Japanese manufacturers will use blockchain technology to secure sensitive information and to share valuable information related to production.  The project is expected to start in spring of 2020 and will allow members to share production information in the hopes of increasing the overall efficiency of the Japanese manufacturing industry.

ai blockchain  100 Japanese entities partake in data sharing initiative
Mitsubishi Electric.

Under the data-sharing agreement, participants will use blockchain technology to share information on product design, the status of production equipment, as well as quality inspection. Moreover, the use of blockchain will allow participants to customise how much information they want to share, with which entities, and whether to charge them for access. Overseen by the Industrial Value Chain Initiative, a manufacturers’ consortium formed in 2015 to promote the Internet of Things (IoT) in Japan, the project is expected to be a game-changer for the industry.

The project marks a shift from the traditional methods of production for factories, where companies worked independently to employ IoT technology, with practices and trade knowledge kept confidential. However, industrial players are now convinced that the benefits reaped through collaboration far outweigh the competitive edge gained from keeping manufacturing data private. It is thought that by sharing such data, the entire industry can achieve a better overall performance.

Well known industry players, such as DMG Mori, Mitsubishi Electric, and Yaskawa Electric are reported to be participating in the initiative.

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