Abstract
The exponential growth in computing power, total Internet data throughput and human online interaction are the primary driving factors of the latest innovations in the field. Decentralized networks, disrupting the current centralized models, offer a unique potential to support societal fairness, information accessibility and security combined with business innovation. Blockchain technology is a pillar and leading concept within decentralized networks, serving as shared database across the network where information cannot be hampered with once stored and verified. Blockchain offers solutions to ever increasing security, verifiability and transparency concerns. It aims at cultivating a shared and trusted digital environment. Removing the single point of failure from the equation enables the technology to be applicable in industries where direct information flow and network security are priority concerns. The application of decentralized networks and blockchain has many possibilities and scenarios, what perhaps most stands out is optimization and increased trust of logistic value chains, quality control in the manufacturing stream, and transparency in maintenance model ranging from simple to sophisticated equipment.
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