Leveraging the Power of Blockchain in Industry 4.0 and Intelligent Real-Time Systems for Achieving the SDGs

Abstract

Intelligent real-time systems are significantly impacting several of the UN Sustainable Development Goals (SDGs) by revolutionising processes in several areas such as Industry 4.0, smart cities, transportation, agriculture, renewable energy, climate change and other economic activities. Given that much of the work to achieve the SDGs relies on information and communication technology, cybersecurity has a potentially immense role to play towards achieving these outcomes. Moreover, cyberattacks have emerged as a new functional threat for interconnected, smart manufacturers and digital supply networks, employed in intelligent real-time systems for the Fourth Industrial Revolution. The effects of cyberattacks can be much more widespread than ever before due to the interconnected nature of Industry 4.0-driven operations. Blockchain can be really useful in such situations as it provides edge protection and allows authentication of the machine-to-machine and human–machine operations, stable data share, life cycle management, access control compliance of devices and self-sustaining operations. Moreover, blockchain can be applied for tracking and tracing transactions through devices, which are performed during the operation, as well as to encrypt and transmit data securely. It is vital to establish complete trust in a technology that is being adopted so that its full potential can be exploited. It is consequently critical that the organisational and information technology strategy fully integrates secure, vigilant and resilient cybersecurity strategies such as blockchain. This will ensure that cyber risks are properly managed in the age of Industry 4.0. This chapter, therefore, analyses the application of blockchain in intelligent real-time systems such as Industry 4.0 so that the opportunities these systems present for the SDGs can be exploited safely with minimum risks to society.

Citation

Fowdur, T.P., Hurbungs, V. and Babooram, L. (2024), "Leveraging the Power of Blockchain in Industry 4.0 and Intelligent Real-Time Systems for Achieving the SDGs", Fowdur, T.P., Rosunee, S., Ah King, R.T.F., Jeetah, P. and Gooroochurn, M. (Ed.) Artificial Intelligence, Engineering Systems and Sustainable Development, Emerald Publishing Limited, Leeds, pp. 109-121. https://doi.org/10.1108/978-1-83753-540-820241009