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Agreements between Enterprises digitized by Smart Contracts in the Domain of Industry 4.0

  • The digital transformation of companies is expected to increase the digital interconnection between different companies to develop optimized, customized, hybrid business models. These cross-company business models require secure, reliable, and traceable logging and monitoring of contractually agreed information sharing between machine tools, operators, and service providers. This paper discusses how the major requirements for building hybrid business models can be tackled by the blockchain for building a chain of trust and smart contracts for digitized contracts. A machine maintenance use case is used to discuss the readiness of smart contracts for the automation of workflows defined in contracts. Furthermore, it is shown that the number of failures is significantly improved by using these contracts and a blockchain.

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Author:Kevin Wallis, Jan StodtORCiDGND, Eugen Jastremskoj, Christoph ReichORCiDGND
Parent Title (English):10th International Conference on Computer Science, Engineering and Applications (CCSEA 2020) : July 25-26, 2020, London, United Kingdom
Document Type:Conference Proceeding
Year of Completion:2020
Release Date:2020/07/29
Tag:Blockchain; Digitized agreements; Industry 4.0; Maintenance; Smart contracts
First Page:23
Last Page:32
Open-Access-Status: Open Access 
Licence (German):License LogoCreative Commons - CC BY - Namensnennung 4.0 International