The Japanese MNCs will use blockchain security to ensure the security and integrity of production data sharing system. Basically, the system enables the sharing of production data between various notable business firms. Integrating blockchain will secure the share of production data. It will allow the firms to decide how much amount of data they can share and to share it with whom. Also, the system will provide the info on whether a firm can charge any fee for the information they provide.

As you may guess, there will be sharing of data, there is a chance of data leak if proper security is not implemented. This is where blockchain enters the scene. It will enforce better security and also reduces the cost of operation.

This blockchain project will initiate in the Spring of 2020 under the guidance of Industrial Value Chain Initiative. This guild consists of major Japanese business firms such as DMG Mori, Mitsubishi, and Yaskawa Electric, etc. Also, the project aims to improve the countries’ manufacturing sector with the blockchain system.