Japanese manufacturers will adopt blockchain-based data sharing platform

In order to increase the efficiency and the output of hundreds of manufacturers in Japan, companies have agreed to use the blockchain as a platform for sharing data for a better economic future of the country. Currently, the largest companies involved are Mitsubishi Electric and Yaskawa Electric. The project will begin in the spring of 2020 and will be governed by the Industrial Value Chain Initiative. Due to rapidly growing markets and the difficulty of tapping into it, companies have started to collaborate for market sharing purposes rather than market dominating intentions. Sharing data amongst themselves is going to drive