In a bid to bolster performance and improve efficiency, 100 Japanese manufacturers, including industry lead Mitsubishi Electric, have agreed to use distributed ledger technology (DLT) in sharing production data, according to a Nikkei report on June 17, 2019.
Strategic Blockchain Collaboration
Per sources close to the matter, Japanese multinational Mitsubishi Electric, Yaskawa Electric, DMG Mori, and 97 other firms are set to begin sharing production data securely with each other via blockchain technology
Reportedly, Manufacturers previously guarded data gathered at their factories jealously to prevent their direct competitors from taking advantage of the highly valuable information.
However, these firms now believe that the secure sharing of their production data could be of immense benefit, and they are now looking to harness the immutability property of DLT to share data between themselves securely.