Other ways blockchain can be used in manufacturing is to enhance the track and trace process and understand where your products came from and where they are going. Typically, right now you see one down and one up. This is completely changed. If you go onto a blockchain, you can see where your ingredient came from multiple steps down, and you can see where it went multiple steps up. It creates a whole new level of transparency and could be used for marketing to consumers if they want to see true farm-to-table.
Augmented Reality and Virtual Reality
With AR and VR, you have a machine with sensors that can troubleshoot. Just hover the eye over a machine part, for example, and it can tell you exactly what's wrong with that part. In the future, perhaps the only time you’ll have to turn on the lights in a manufacturing facility is when something is going wrong and you send your maintenance team in, and they can hover augmented reality over a motor, for example, and it tells you through data where the fault is, saving you a tremendous amount of time.
Virtual reality is going to reduce the travel needs for OEMs. You can wear VR glasses, your maintenance person can wear VR glasses, and so can the OEM, and it’s like they’re standing right next to you. VR can also be used as a training tool. VR takes a lot of internet power, cloud computing, and infrastructure to make it a normalization, so it can be costly.
VR Biotechnology
“I think biotechnology will be the one that lasts and lingers and takes us into the fifth industrial revolution whenever that is,” said Spannuth. “Study biotechnology, reverse engineering cells and molecular levels to understand how they work. Obviously, nature has created many things to work in the least amount of energy possible or in the most efficient ways possible, so we can understand how they work on a much better level. We can change how we do things and create cleaner energy, simpler materials and stronger materials. How do these things work? It's the ultimate reverse engineering.”