Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for Industry 4.0. As there is a large number of startups working on a wide variety of solutions, we decided to share our insights with you. This time, we are taking a look at 5 promising blockchain startups.
Heat Map: 5 Top Blockchain Startups
For our 5 top picks, we used a data-driven startup scouting approach to identify the most relevant solutions globally. The Global Startup Heat Map below highlights 5 interesting examples out of 61 relevant solutions. Depending on your specific needs, your top picks might look entirely different.
Orbital – Enterprise Resource Planning (ERP)
Centralization of business data within ERP software, combined with real-time data updates, gives Industry 4.0 businesses comprehensive control over the in-house operations and helps them make data-driven decisions for the future. Blockchain-based ERP creates a collaboration platform that is highly secure in order to share records with trusted parties.
Canadian company Orbital provides cloud-based custom blockchain ERP solutions for Industry 4.0 companies. They offer a full-stack ERP Blockchain with side chain integration and operate a cloud business platform that runs blockchain business modules specialized in tracking business data and operations.
LICENS3D – Industrial Design Protection
The connected nature of Industry 4.0 enables easy transmission of copyrighted digital design data which improves the flexibility of manufacturing processes. This, however, raises concerns about the safety of the intellectual property. Blockchain technology deployment addresses these concerns. For instance, when uploading a CAD project to the blockchain, the platform facilitates instant encryption and protection of designs from plagiarism.
Spanish startup LICENS3D develops a blockchain platform that prevents unauthorized distribution, corroborates ownership, and protects unrestricted reproduction from CAD files. LICENS3D represents a source for all data, employed in a 4.0 digital manufacturing lifecycle.
Qualia Data Sciences – Smart Contracts
Smart contracts execute pre-programmed instructions if a set of previously agreed terms and conditions are met. Blockchain allows for the implementation of smart contracts that intend to reduce high transaction costs, minimize paperwork and significantly accelerate turnaround time in Industry 4.0 operations.
Irish startup Qualia Data Sciences creates smart contracts built on the Ethereum blockchain for Industry 4.0 enterprises. They also develop a data visualization software, BusinessQ, to visualize smart contracts’ data by analyzing the data associated with it.
Xage – Cybersecurity
Industry 4.0 usually relies on highly connected applications, devices, and systems. Protection of both complex industrial systems and simpler physical access systems is a top priority as they have often been targeted by cyber-attacks. Traditional cybersecurity models of network isolation and centralized enforcement need to be replaced with distributed, rigorous, flexible and adaptive models based on blockchain technologies that use secure public-key cryptosystems and hash algorithms for data security.
The US-based startup Xage offers blockchain-protected cybersecurity solutions for industrial operations. They provide security at the edge and enable machine-to-machine and human-machine authentication, secure data sharing, device life cycle management, device access-control enforcement, and autonomous operation.
Brainy IoT – Industrial Internet of Things (IIoT)
IIoT systems are an integral part of Industry 4.0 and significant effort is being made by manufacturers to increase the security and privacy of these systems. Blockchain enables decentralized transactions and information exchange in IIoT systems during different processing stages within a trusted framework that signs and timestamps all transactions.
Indian startup Brainy IoT offers a blockchain backend for Industry 4.0 facilities along with IoT devices and specialized enterprise interfaces, based on web and mobile portals. They integrate blockchain identity with industrial IoT and enable secure interaction and data transmission.
What About The Other 56 Blockchain Startups?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 5 blockchain startups showcased above are promising examples out of 61 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.