Secure and transparent production
Global manufacturing experts are approaching the adoption of blockchain with optimism, as it is estimated that about 30% of manufacturers (with more than $5 billion in revenue) would implement Industry 4.0 projects leveraging blockchain by 2023. The use cases across securing IP and prototypes, effective monitoring of the supply chain, and digital twin-based production are effectively possible with the adoption of encryption technologies.
According to analyst firm TrendForce, the industrial Metaverse revenue is set to reach $540 billion by 2025. Major manufacturing companies leverage virtual environments for improved production, for example, BMW is already implementing a virtual factory, which simulates robots and human workers that make drivetrains for electrical vehicles, Zimmer Group, a German-based company, has used digital twin technology to simulate a furniture manufacturing factory.
The use of digital twins in the Metaverse is redefining prototyping and factory simulation, helping manufacturing firms mitigate the gaps in production without any waste. Digitopia is a pioneer in this space, helping manufacturers become Metaverse-ready through its proprietary Metaverse Readiness Index (MRI).
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