A blockchain can be described as an immutable ledger system that stores data. You can add new data, but you can never edit or remove existing data.
The data structure can be described as a series of blocks of data that are chained together with each block connected to the block immediately before it.
This means that in order to edit or delete data in a block, you have to change that block and every block that comes after it, which is impossible even with large amounts of computing power.
Blockchain is ideal for the manufacturing industry in that each step along the manufacturing process can be time-stamped and backed by the immutable infrastructure. This allows auditing to take place in real time and ensures regulatory requirements are easily met and monitored through transparency.
Contact us for early access to our patent pending platform!