Re-designing the business organization using disruptive innovations based on blockchain-IoT integrated architecture for improving agility in future Industry 4.0

Abstract

Purpose

Blockchain and Internet of Things (IoT) technologies have recently gained much attention for Industry 4.0. With the emergence of disruptive technologies, it has become essential to redesign the business for innovations based on blockchain–IoT integrated architecture that helps organizations to improve agility in their operations. The paper aims to discuss this issue.

Design/methodology/approach

An industrial pump was Sensorized and IoTized to monitor its operations on real time and take predictive measures for managing these assets with more agility. The developed architecture was further extended for proposing the use of blockchain and how it can benefit the organization.

Findings

The known features of blockchain such as increasing the capacity of decentralization, trust-less transactions, security and allowing autonomous coordination of the devices along with the boons of IoT will help achieve the motto of improving agility in Industry 4.0.

Originality/value

This paper gives a new dimension to utilization of blockchain technology. blockchain along with IoT that gives a way forward for industries like manufacturing, oil and gas, engineering and construction, utilities, etc. to re-designing the business organization in a more agile way.

Citation

Rane, S.B. and Narvel, Y.A.M. (2021), "Re-designing the business organization using disruptive innovations based on blockchain-IoT integrated architecture for improving agility in future Industry 4.0", Benchmarking: An International Journal, Vol. 28 No. 5, pp. 1883-1908. https://doi.org/10.1108/BIJ-12-2018-0445