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September 2021 (published: 22.09.2021)
Number 3(46)
Home > Issue > Smart contracts in the Industry 4.0 innovation business processes
Zharinov Igor Olegovich
Business strategies for the development of companies in the digital economy define new principles of interaction between manufacturers and consumers, revealing the innovative potential of cyber-technologies, smart contracts and smart products used in e-commerce and electronic high-tech business. Changes in the principles of value creation and distribution actualize research on the problem of introducing hardware and software automation tools and information web-resources into the chains of product life cycle stages, focused on the production and sale of smart products to the end user or on logistics arising in the business relations of digital, smart and virtual factories. A means of financial and technological control of the operational activities of factories, which combines the business processes of cyber-design, cyber-production and cyber-maintenance of products, is a smart contract that is executed automatically on a computing platform hosted in a cloud environment. Smart contracts act as a digital contract that aggregates and processes data collected in a decentralized manner by product, technology, user, etc. oracle applications that communicate with industrial cyber-physical systems, payment systems, and the consumer community. This research is devoted to the development of business solutions that are relevant for the organization of contractual market relations that arise between Industry 4.0 factories and consumers and are regulated by smart contracts in the segment of industrial production of high-tech mass-demand products and customized products. The results of the research are in demand in business processes focused on the use of advanced tools and technologies that automate the commercial cycle of interaction between companies and consumers.
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Keywords: digital economy, smart contract, high-tech manufacturing, Industry 4.0, digital factory, smart factory, virtual factory, oracle application.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 334
Smart contracts in the Industry 4.0 innovation business processes
Business strategies for the development of companies in the digital economy define new principles of interaction between manufacturers and consumers, revealing the innovative potential of cyber-technologies, smart contracts and smart products used in e-commerce and electronic high-tech business. Changes in the principles of value creation and distribution actualize research on the problem of introducing hardware and software automation tools and information web-resources into the chains of product life cycle stages, focused on the production and sale of smart products to the end user or on logistics arising in the business relations of digital, smart and virtual factories. A means of financial and technological control of the operational activities of factories, which combines the business processes of cyber-design, cyber-production and cyber-maintenance of products, is a smart contract that is executed automatically on a computing platform hosted in a cloud environment. Smart contracts act as a digital contract that aggregates and processes data collected in a decentralized manner by product, technology, user, etc. oracle applications that communicate with industrial cyber-physical systems, payment systems, and the consumer community. This research is devoted to the development of business solutions that are relevant for the organization of contractual market relations that arise between Industry 4.0 factories and consumers and are regulated by smart contracts in the segment of industrial production of high-tech mass-demand products and customized products. The results of the research are in demand in business processes focused on the use of advanced tools and technologies that automate the commercial cycle of interaction between companies and consumers.
Read the full article
Keywords: digital economy, smart contract, high-tech manufacturing, Industry 4.0, digital factory, smart factory, virtual factory, oracle application.
DOI 10.17586/2310-1172-2021-14-3-162-169