Deloitte recently published a very interesting article entitled ‘The adoption of disruptive technologies in the consumer products industry‘.
Only as recently as last year (2018) the Consumer Products industry fared less than favourably in terms of its ‘digital maturity’ compared with other industries, thus indicating ample room for improvement by way of digital transformation.
Spearheading the list of potential technologies to help accelerate that digital maturity is blockchain. NB: the article contains an excellent description of how blockchain works, so need to repeat here. A technology spawned from the financial services sector, it’s no wonder that blockchain’s distributed ledger capability is helping to provide for expedited payments with a transparent end-to-end audit trail – useful across any industry. What’s interesting beyond this, is yet again blockchain’s ability to help prove that the raw materials used in products and the labour employed to harvest them is genuinely ethical. Something that Coca Cola are now benefiting from.
There is an inherent link between blockchain and the Internet of Things (IoT) that makes this type of ethical tracking at all possible. The combination of these two technologies means that the digital data generated and consumed is not only massively dispersed (blockchain uses a distributed model by its very design) but also very high in its frequency (IoT is designed to support millions of devices). The world is witnessing an ongoing ‘data explosion’ as a result of this – this is one of the reasons why we now have IPv6 – to accommodate the massive amount of data from the devices that the Internet of Things will afford the world.
It’s all very well and good having millions of IoT devices, but all of the data they generate needs to be made sense of from a business perspective. How is this data going to be collated, aggregated and made sense of in order to compare against Key Performance Indicators for example?
At SEEBURGER we have been helping companies integrate and make sense of the data they are using for ~30 years: anything from large files of unstructured data through to small packets of highly structured data taken from devices used in IoT solutions. Feel free to reach-out to us to better understand how we can help your digital transformation journey in the CPG industry be a successful one.
Blockchain is becoming more and more important in many areas. This is not only the case in the financial services market, but also in the supply chain of the CPG industry and other industries.
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