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Re-designing the business organization using disruptive innovations based on blockchain-IoT integrated architecture for improving agility in future Industry 4.0

Re-designing the business organization using disruptive innovations based on blockchain-IoT... Blockchain and Internet of Things (IoT) technologies have recently gained much attention for Industry 4.0. With the emergence of disruptive technologies, it has become essential to redesign the business for innovations based on blockchain–IoT integrated architecture that helps organizations to improve agility in their operations. The paper aims to discuss this issue.Design/methodology/approachAn industrial pump was Sensorized and IoTized to monitor its operations on real time and take predictive measures for managing these assets with more agility. The developed architecture was further extended for proposing the use of blockchain and how it can benefit the organization.FindingsThe known features of blockchain such as increasing the capacity of decentralization, trust-less transactions, security and allowing autonomous coordination of the devices along with the boons of IoT will help achieve the motto of improving agility in Industry 4.0.Originality/valueThis paper gives a new dimension to utilization of blockchain technology. blockchain along with IoT that gives a way forward for industries like manufacturing, oil and gas, engineering and construction, utilities, etc. to re-designing the business organization in a more agile way. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Benchmarking: An International Journal Emerald Publishing

Re-designing the business organization using disruptive innovations based on blockchain-IoT integrated architecture for improving agility in future Industry 4.0

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1463-5771
DOI
10.1108/bij-12-2018-0445
Publisher site
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Abstract

Blockchain and Internet of Things (IoT) technologies have recently gained much attention for Industry 4.0. With the emergence of disruptive technologies, it has become essential to redesign the business for innovations based on blockchain–IoT integrated architecture that helps organizations to improve agility in their operations. The paper aims to discuss this issue.Design/methodology/approachAn industrial pump was Sensorized and IoTized to monitor its operations on real time and take predictive measures for managing these assets with more agility. The developed architecture was further extended for proposing the use of blockchain and how it can benefit the organization.FindingsThe known features of blockchain such as increasing the capacity of decentralization, trust-less transactions, security and allowing autonomous coordination of the devices along with the boons of IoT will help achieve the motto of improving agility in Industry 4.0.Originality/valueThis paper gives a new dimension to utilization of blockchain technology. blockchain along with IoT that gives a way forward for industries like manufacturing, oil and gas, engineering and construction, utilities, etc. to re-designing the business organization in a more agile way.

Journal

Benchmarking: An International Journal – Emerald Publishing

Published: May 21, 2021

Keywords: Agility; Asset management; Industry 4.0; Blockchain–IoT integrated architecture

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