Blockchain and Industry 4.0-A study

Everything around us is transforming with advancement in time, as a result, new technologies are developing with upcoming industry revolution, which is also widely popular as Industry 4.0. It includes new trends related to Cyber Physical system, Augmented Reality, Artificial Intelligence, Internet of Things (IoT), Cloud Computing and many more. Many physical infrastructures are transformed to virtual ones, which allowed decision making and planning in decentralized form. It also enabled users to accomplish real time communications with help of integrated computing algorithms. Main challenge involves decentralization and heterogeneous nature of systems. Blockchain can be solution to this problem, which targets at integration and management of heterogeneous systems. This paper discusses various solutions related to the conjunction of blockchain and Industry 4.0. It also explores various pros and cons of traditional security solutions and provides evaluation of present blockchain-based security solutions. It also discusses blockchain based application areas of Industry 4.0.Copyright (c) 2022 Elsevier Ltd. All rights reserved. Selection and peer-review under responsibility of the scientific committee of the Innovative Technologies in Mechanical Engineering-2021.