The manufacturing sector is growing pretty fast with the latest advances in the technology. Many large industries across the world faced a huge downfall because of poor economy during the last decade. So, market's leading manufacturing firms are also planning to try something new to reach the clients and earn a much larger profit. While other options do not seem pretty useful, Productivist seems like a boon for the manufacturing sector. It is planned to be an affordable, integrated, and one-stop solution for the manufacturing industry.
The Internet of Things is enabling manufacturers to become smarter. Source: Shutterstock THE Internet of Things (IoT) revolution is impacting the way many companies around the world are doing business. It's enabling businesses to become smarter, achieving better outcomes than ever before. A prime example of where IoT is making a large business impact is in the industrial field. As we propel into Industry 4.0, many manufacturers are realizing the need to digitize in order to stay competitive.
The following is an opinion piece from Filemon Schöffer, co-founder and CCO of 3D Hubs, a 3D printing and manufacturing company. Opinions are the author's own. Rather than constantly innovating over the last half century, parts manufacturing fell into complacency, sidestepping rather than moving forwards. As a result, the sector is struggling to keep up with the rapid pace of digital transformation. With the growth of Industry 4.0 technologies, sluggish and inefficient traditional manufacturers are feeling the pinch; innovate or risk becoming outdated.
The Productivist manufacturing ecosystem is being developed as the standard for decentralized smart manufacturing. It provides a framework to allow marketplaces and manufacturers to connect to be part of the decentralized manufacturing ecosystem. Productivist will provide a foundational infrastructure layer for digital manufacturing. Productivist consists of a blockchain protocol which is built using Hyperledger Fabric, the Productivist smart device which interfaces the manufacturing equipment to the Productivist blockchain, and the interconnection of many marketplaces and companies which customers send orders to. The goal of Productivist is to provide a base infrastructure to connect all players in the smart manufacturing economy.
"When you talk about the long tail of the internet that has helped retailers, for example – through Amazon and other sites, they can sell their products all across the country, when previously they were just very local storefronts – that opportunity hasn't existed for manufacturers," says Randy Altschuler, the company's co-founder and CEO. "And Xometry is a platform which unlocks that and allows all these manufacturers across the country, with tremendous skill sets and with billions of dollars invested in machinery, to use those skills and help customers all across the country."