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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.

preprint2020arXivOpen access
Kevin WallisJan StodtEugen JastremskojChristoph Reich
Cryptography and Securitycs.CY
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Open access4 authors2 topics
Imported metadata coverageMissing code, dataset, citation and institution fields are tracked without dominating the paper.Details
Citations: 0Reviews: 0Saves: 0Code: not linkedDataset: not linkedInstitutions: 0

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Kevin WallisJan StodtEugen JastremskojChristoph Reich

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