Mitsubishi Electrics, Yaskawa Electric and other Japanese manufacturers to use blockchain tech for data sharing: Report

At least 100 manufacturers plan to use blockchain technology to securely share their production data with each other, according to Nikkei Asian Review. Mitsubishi Electric, Yaskawa Electric, and DMG Mori are among those who are expected to join the project.

As per the report, the project, which will utilize blockchain technology to lower data leak risks and reduce operation expenses, aims to enhance the manufacturing industry of Japan by luring big companies with advanced production technologies while attracting small players with no large investment funds.

The participating companies can decide how much data they will share including product design information, production status, and quality inspection data. They can also choose which firms they intend to share their data with and determine whether or not they will charge a fee for the information provided.

Meanwhile, the European Union has also recently relaxed the wealth of information that can be reused as raw material for blockchain- and artificial intelligence-related projects, as it aims to boost its data economy, contribute to the progress of a data-based society, and stimulate the growth to open more jobs in the economic sector.