Cryptocurrencies is still a controversial topic, but the usefulness of the blockchain technology that comes with it is irrefutable. Different organization and industries are trying to incorporate blockchains into their system and create a revolutionary offspring. Now it is time for Fraunhofer Institute for Photonic Microsystems (IPMS), a German-based research institution to make its move. Fraunhofer IPMS is involved in a concept which will use Blockchains to develop wireless radio frequency identification sensor systems for use in logistics sectors.
Fraunhofer IPMS currently makes unique hardware and software solutions for individual customers and then analyze their specific requirements using simulations. They plan to use Blockchain technology as a means to decentralize the storage of data generated by RFID sensors. As per their press release, Fraunhofer IPMS sees the future of automation in data management of supply chains and logistics processes as something achievable through Blockchains. They have been quoted as saying that blockchains can “speed up deliveries, avoid fraud and errors, and reduce scrap and costs.”
In the words of Dr. Andreas Weder, the team leader at Fraunhofer IPMS, here is the working principle of their RFID:
“Our passive RFID sensor transponders measure physical parameters such as humidity, vibration or temperature and transmit them wirelessly to a reader that also provides the energy.”
Although the concept is currently in motion, it isn’t still finished, and the blockchain integration phase is yet to be implied. It is due to be showcased at the Trade Fair for Intralogistics Solutions and Process Management (LogiMat) at Stuttgart, Germany. The fair will be held from 13th to 15th March, and so the researchers have that much time on their hands to get the work done.
On a related note, Blockchains hasn’t been formally introduced on German soil, but that is to change. As stated by German lobby Group Blockchain Bundesverband, the German government will be creating a legal framework target towards blockchain regulation so the technology can be “welcom[ed]” in the country.