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Blockchain has the potential to transform the manufacturing industry and one of the ways to do so is through automation of production ordering process and transparency and tracking of events on the supply chain. An interesting fact is that by 2020, according to Gartner research, 40% of the world’s blockchain business value-add will be derived from the manufacturing sector.
The nature of blockchain technology allows secure, auditable and immutable record-keeping: of events throughout the supply chain. Moreover, smart contracts allow self-executing contracts which can automate lengthy and inefficient processes.