Is Blockchain A Viable Technology For Industry 4.0?

Michela Menting
Blockchain is essentially a ledger technology that uses cryptography to provide an authoritative record of secure transactions. By doing away with a trusted centralized middle man responsible for the ledger, blockchain allows for a “trustless trust.” The three primary transformative features are immutability, transparency, and autonomy.
The transactions, once verified and accepted, are cemented into blocks and then appended to the chain. The synchronized replication across all distributed nodes and the use of cryptographic hashing is what provides the transparency — the immutable record — of transactions, with the data viewable to all the participants.
Blockchain has truly…