Blockchain enabled transaction processing for an industrial asset supply chain
Some embodiments provide a system to facilitate transaction processing associated with an industrial asset supply chain having a first entity and a second entity. A first entity computer processor may retrieve, from a first entity database, information associated with pre-delivery data about the industrial asset. The first entity computer processor may then record pre-delivery data about the industrial asset via a secure, distributed transaction ledger. A second entity computer processor may retrieve, from a second entity database, information associated with a post-delivery event involving the industrial asset. The second entity computer processor may then record post-delivery event data about the industrial asset via a secure, distributed transaction ledger. The post-delivery event data might indicate, for example, that the industrial asset has been delivered, has been installed, is working properly, has been used, etc.
1. A supply chain management system for one or more industrial assets, comprising:
a first entity computer processor coupled to a first entity database storing pre-delivery data associated with an industrial asset, the first entity computer processor adapted to:
obtain the pre-delivery data associated with the industrial asset from the first entity database; and
record the pre-delivery data associated with the industrial asset via a secure, distributed transaction ledger;
a second entity computer processor coupled to a second entity database storing post-delivery data associated with the industrial asset, the second entity computer processor adapted to:
obtain the post-delivery data associated with the industrial asset from the second entity database; and
record the post-delivery data associated with the industrial asset via the secure, distributed transaction ledger; and
a transaction prediction platform associated with the secure, distributed transaction ledger and adapted to trigger one or more payments based on the pre-delivery data and the post-delivery data.
2. The system of claim 1 , wherein the secure, distributed transaction ledger comprises blockchain technology.
3. The system of claim 1 , wherein the first entity computer processor is associated with at least one of a supplier of a component of the industrial asset, a manufacturer of the industrial asset, and a distributor of the industrial asset.
4. The system of claim 3 , wherein the second entity computer processor is associated with at least one of a delivery entity, an installer entity, a customer, and a user of the industrial asset.
5. The system of claim 1 , wherein the pre-delivery data associated with the industrial asset indicates at least one of an order date, an order time, a price, a location of the industrial asset, and a manufacturer of the industrial asset.
6. The system of claim 1 , wherein the post-delivery data is associated with a post-delivery event indicating that the industrial asset is at least one of: delivered, installed, working, and used.
7. The system of claim 1 , wherein information recorded in the secure, distributed transaction ledger is associated with the industrial asset and includes at least one of: quality information, delivery information, mission critical information, physical location data, material quality information, inspection information, a price of a good, a price of a service, contractual commitment data, delivery conditions, shipping information, and a smart contract.
8. The system of claim 1 , wherein the industrial asset is associated with at least one of: an engine, an aircraft, a locomotive, power generation, a wind turbine, a medical device, farming equipment, an autonomous vehicle, additive manufacturing, and an unmanned aerial vehicle.
9. The system of claim 1 , wherein the first entity computer processor is associated with a first entity and the second entity computer processor is associated with a second entity, and wherein the transaction prediction platform is associated with at least one of the first entity and the second entity.
10. A computer-implemented method, comprising:
obtaining information related to a contractual relationship between a first entity and a second entity, wherein the contractual relationship relates to an industrial asset;
monitoring a secure, distributed transaction ledger for one or more post-delivery events associated with the industrial asset and the contractual relationship; and
upon detection of at least one post-delivery event of the one or more post-delivery events, triggering one or more payments associated with the industrial asset between the first entity and the second entity based on the at least one post-delivery event.
11. The method of claim 10 , wherein the secure, distributed transaction ledger comprises blockchain technology.
12. The method of claim 10 , wherein the at least one post-delivery event indicates that the industrial asset was at least one of delivered, installed, working, and used.
13. The method of claim 10 , wherein the secure, distributed transaction ledger comprises information associated with the industrial asset and includes at least one of quality information, delivery information, mission critical information, physical location data, material quality information, inspection information, a price of a good, a price of a service, contractual commitment data, delivery conditions, shipping information, and a smart contract.
14. The method of claim 10 , wherein the industrial asset is associated with at least one of an engine, an aircraft, a locomotive, power generation, a wind turbine, a medical device, farming equipment, an autonomous vehicle, additive manufacturing, and an unmanned aerial vehicle.
15. The method of claim 10 , wherein the first entity is associated with at least one of a supplier of a component of the industrial asset, a manufacturer of the industrial asset, and a distributor of the industrial asset.
16. The method of claim 10 , wherein the second entity is associated with at least one of a delivery entity, an installer entity, a customer, and a user of the industrial asset.
17. The method of claim 10 , wherein the one or more post-delivery events triggering the one or more payments is a subset of a plurality of post-delivery events, and wherein the subset of post-delivery events are identified based on the contractual relationship.
18. A non-transitory, computer-readable medium storing instructions that, when executed by a computer processor, cause the computer processor to perform operations comprising:
obtaining information related to a relationship between a first entity and a second entity, wherein the relationship relates to an industrial asset;
monitoring a secure, distributed transaction ledger for one or more post-delivery events associated with the industrial asset and the relationship; and
upon detection of at least one post-delivery event of the one or more post-delivery events, triggering, via a transaction prediction platform, one or more payments associated with the industrial asset between the first entity and the second entity based on the at least one post-delivery event.
19. The medium of claim 18 , wherein the transaction prediction platform is associated with at least one of the first entity and the second entity.
20. The medium of claim 18 , wherein the one or more post-delivery events triggering the one or more payments is a subset of a plurality of post-delivery events, and wherein the subset of post-delivery events are identified based on the relationship.