Blockchain technology enables IoT developers to create a new range of innovative applications that allows a set of independent actors to share data and execute business transactions in a trusted environment without having to use proprietary networks and centralised trusted third parties. The Blockchain represent a distributed ledger of transactions that all parties can share and trust. Potential applications range from financial transactions, food traceability to distributed electronic patient records, In the COMPOSITION project we are researching, developing and evaluating blockchain solutions for supply chain management and trusted product traceability to support factories of the future. Blockchains are also used to establish a trusted agent-based market place for automated tendering and negotiation supporting trading.
Rita Burkert 29th June 2017