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Introduction to Blockchain

Back To Basics
September
2020
Amit Gupta

In the age of Industry 4.0, blockchain technology will be a useful tool for chemical engineers to design the next generation of manufacturing supply chains.

Blockchain technology was invented to enable a new type of electronic currency — the Bitcoin — but its unique characteristics are driving innovative applications in diverse domains. Blockchain automates trust in a scientific manner, and as the new technology of trust (1), it has found its way into the chemical process industries (CPI). Chemical engineers have a background in mathematics and problem-solving, and therefore are well poised to understand and apply blockchain technology. This article introduces blockchain technology and discusses how it is being applied in the CPI and other major industries.

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