Blockchain and Industrial Design

Blockchain has been in the limelight ever since people found out they could make money owning Bitcoin. Like the inexplicable explosion of life during the Cambrian period, cryptocurrencies started popping up everywhere, as did more people insisting on explaining blockchain to you at random moments. 

Over time, the blockchain has come to be associated almost entirely with cryptocurrencies. However, blockchain applications don't end there because they can also be applied to many industries, including industrial design.

So, what is it about blockchain technology that makes it suited to more than just digital coins?

Let’s find out. 

Blockchain Technology Explained

Blockchain refers to a system of recording information such that it is impossible to alter, defraud or hack. A blockchain can be thought of as a digital ledger where transactions are recorded, duplicated, and distributed across an entire network of nodes (computers) on that blockchain. The name given to this is blockchain mining. Argo Blockchain is a NASDAQ. and LSE. Listed Bitcoin miner that is revolutionising the use of renewable technology to support the blockchain infrastructure. As with good design, good blockchain mining should strive to be sustainable.

The blockchain is made up of blocks, which contain several transactions. Whenever a new transaction is added to the chain, a record of that transaction is added to the ledger, which every participant can see, but not change. 

Because of this open system, no central power controls what gets added or removed from already recorded transactions. The distributed database of transactions is what’s called DLT (Distributed Ledger Technology).

Blockchain is, therefore, a type of DLT that records transactions using an unchangeable cryptographic signature known as a hash. The hash allows the ledger users to know when a block is tampered with since changing one transaction would require the people attempting to change the transaction to change all the blocks in the chain across all the distributed versions- an impossible task. 

Industrial Design Explained

Industrial design is the convergence of business, art, and engineering for the optimized and practical development of products that include toys, vehicles, electronics, home appliances, and more. 

Industrial designers can be found across every industry that either offers or requires manufactured products. 

An industrial designer is usually tasked with;

·      Researching the product’s users and the various ways a product might be used

·      Drawing the blueprints and developing ideas for the product

·      Using software to develop virtual models of different ideas/designs

·      Researching materials and potential costs required to manufacture the product(s)

·      Collaborating with other experts in the development process to streamline the idea further

·      Safety, aesthetic, and practicality evaluation 

·      Design and prototype presentations for evaluation and approval

Though designers focus on specific product categories, they have to collaborate with engineers, marketers, and production specialists to apply all the work put into designing the product.

Where Does Blockchain Meet Industrial Design?

The 2020 pandemic forced industries all over the world to rethink the work-from-home model. Many designers across different industries found themselves working from home using cloud-driven software to collaborate with colleagues, share ideas, communicate, and more. 

Like every other professional in the digital world, industrial designers need to find a frictionless way to transact remuneration for their work, sign legally binding and trustworthy smart contracts, engage in transparent peer-to-peer transactions, and establish a reputable system to enable all that. 

How does blockchain factor into that?

1.     The blockchain is immutable and encrypted, making it very secure

2.     Because there is no intermediary in transactions (it is decentralised), there are no fees required to facilitate transactions

3.     The authenticity of transactions or records is verified and confirmed by participants in the network

4.     As long as the ledger is maintained, there will always be records of every transaction, with no worries of tampering

5.     Integrations with other technologies can be applied to more than just currency transfers

How do we apply all this to industrial design?

Smart Contracts

Written contracts can get complicated, miss things, or lack the granular detail that comes with using digital solutions. With smart contracts, contributors to the industrial design process can get reimbursed for all their contributions since the blockchain system can keep track of everything and ensure that no one is disempowered or left out of compensation for the work done. 

The system can also attach the contract to the work produced for copyright purposes so revenues can be shared fairly according to the contract's stipulations. 

Peer-To-Peer Sharing

Blockchain is appealing to anyone looking for the freedom that comes with interacting peer-to-peer since it is public. Every transaction and agreement can be seen and validated by everyone who has access to the work to see what value it generates. 

The owner(s) of the material or pieces can be easily attributed. The process works, providing every work done with a unique cryptographic ID verified by the blockchain. That means ownership can be attributed easily and details shared securely. 

Dynamic Pricing

Jobs that involve creating new content/designs aren't always reasonably priced. With transparency in transactions, pricing can take a more dynamic format.

The people working on projects can control the prices without giving some of it to intermediaries or getting shortchanged. 

Micro-Monetization

Industrial designs may sometimes require the creation of something new, patentable, or that can be monetized. With a blockchain system in place, the industrial designers of those creations can record precise components of their work and offer small units of practical parts of the design to whoever may wish to pay for them. 

The Establishment of a Reputable System

Verification of both producers and consumers of industrial design work would help create a trustworthy system that promotes cooperative terms for the designers and their customers. If any of the participants in the process try to game the system or do not fulfil obligations, all of that would be recorded. 

With information like that, bad actors would have a deterrent preventing them from participating in destructive behaviour. 

What the Future May Hold

For a long time, the status quo has been to either ignore blockchain altogether or crackdown its disruption to world banks. There is some way to go before it becomes a truly mainstream technology. However, there are clear indicators that while it may cause banks to be touchy, few would have any objections to using it as a records system that promotes fairness, collaboration, security, and the creation of smart contracts that come with a host of benefits.