Artificial Intelligence-Enabled Digital Twin for Smart Manufacturing

19Blockchain Application in Industry 5.0

D. Saveetha¹, Vijayakumar Ponnusamy^2*, Nemanja Zdravković³ and Nandini S.M.²

¹Department of Networking and Communications, SRM Institute of Science and Technology, Kattankulathur, Tamil Nadu, India

²Department of Electronics and Communication Engineering, SRM Institute of Science and Technology, Kattankulathur, Tamil Nadu, India

³Faculty of Information Technology, Metropolitan University, Belgrade, Serbia

Abstract

Industries play a vital role in the wealth of our nation. The growth of productivity of goods and services is directly related to the economy. Manpower, machinery, tools, and costs have drastically improved according to the developing technologies. The term Industry 5.0 refers to a scenario where people make use of advanced technologies like the Internet of Things (IoT), Artificial Intelligence, and smart machines for effective productivity. This development is more advantageous like providing low-cost products, improved wages, and transportation of goods from rural to urban areas. Since industries are dependent on smart devices, and automated environments, energy consumption and data privacy have become a challenge nowadays. To resolve these issues, blockchain technology provides a decentralized network where the information and transactions are encrypted and stored as blocks. Each block undergoes data validation through the mining process and gets added to the chain of blocks as a blockchain. This is a distributed ledger ...