“Blockchain technology is the most important invention in computing in a generation.”
Professor Arnold Beckmann, Head of Computer Science at Swansea University, used CHERISH-DE funding to identify valid demonstrators for blockchain research that find use cases where blockchain adds true value to businesses.
The project Arnold led linked with external partners such as Oyster Bay Systems, Riversimple, Tata Group UK, Sensore Consulting Ltd and APT Film & Television Ltd (MetFilm). Academic partners incorporated Swansea University, Birmingham and the Japan Advanced Institute of Science and Technology, Ishikawa.
Arnold comments: “Blockchain technology is the most important invention in computing in a generation. Support from CHERISH-DE has enabled me to dig deeper into the science of blockchain and build valuable relationships with key industry partners in the UK and overseas.
It has provided the practical support mechanisms to identify real world use cases that shape research questions, instead of taking a pure academic approach. It has also enabled me to prototype the demonstrators and methods necessary to take me to the next steps of this exciting research area.”
The work has produced valuable findings for the vehicle manufacturing industry and Circular Economy, including international collaborations with logistics industry partners in Japan. It addresses the challenges of securing the identity and usage of components in vehicle manufacturing.
It has led to the development of a demonstrator: a blockchain-driven trust machine for traceability in asset networks to gain trust in, and track use of, vehicle manufacturing parts. It brings about a shift (Deep Leasing) in new business models of how supply chains and vehicle ownership can work as part of a Circular Economy. Blockchain is an essential element to achieve this.
Arnold has also written a book chapter soon to be released, ‘Blockchain-based cyber physical trust systems; how to add trust as an explicit system component to cyber physical systems.’