BEIJING, Nov. 11,
2024 /PRNewswire/ -- WiMi Hologram Cloud Inc.
(NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram
Augmented Reality ("AR") Technology provider, has developed a
decentralized cloud manufacturing model based on
blockchain (BC), called Decentralized Cloud
Manufacturing Application (DCMApp). DCMApp utilizes the
decentralized and immutable nature of blockchain to
facilitate protocol and communication between resource providers
and clients through blockchain-based smart contracts (SC). This
innovation not only enhances the transparency, cost-effectiveness,
and security of the cloud manufacturing system but also eliminates
the need for trusted third parties.
Industry 4.0 refers to the integration of advanced information
technology with manufacturing technology to build smart factories
and achieve the digitalization and intelligence of production
processes. Its core technologies include cyber-physical systems
(CPS), the Internet of Things (IoT), big data analytics, and cloud
computing, among others. Through these technologies, Industry 4.0
enables the adaptive, self-organizing, and self-optimizing
manufacturing processes, thereby improving production efficiency
and product quality while reducing production costs and resource
consumption.
Cloud manufacturing is a novel manufacturing model based on
cloud computing. It virtualizes and shares manufacturing resources
such as equipment, software, capabilities, and knowledge as
services, enabling on-demand manufacturing and rapid response to
market demands. The pay-as-you-go model of cloud manufacturing
technology allows enterprises to acquire advanced manufacturing
capabilities without massive investments, greatly reducing
manufacturing costs and improving resource utilization
efficiency.
However, the centralized structure of cloud manufacturing
technology brings a series of issues. For instance, centralized
cloud manufacturing platforms rely on third-party service
providers, which pose risks of single points of failure and data
breaches. Additionally, as manufacturing demands increase, the
centralized platform faces increased load pressure, which can lead
to service interruptions and performance degradation. Manufacturing
data is stored on third-party servers, creating risks of data
lock-in and malicious tampering.
To overcome these challenges, WiMi proposes a
decentralized cloud manufacturing model based on
blockchain technology. Blockchain is a decentralized
distributed ledger technology that ensures data immutability and
traceability through cryptography and consensus algorithms. Each
node in the blockchain network maintains a complete copy of the
data, and new data is verified and recorded through consensus
mechanisms to ensure the authenticity and consistency of the data.
Smart contracts, defined by pre-programmed rules and conditions,
automatically execute the contract terms. Smart contracts not only
enable automated transactions and payments but also can be used for
complex business logic and process control, widely applied in
finance, law, the Internet of Things, and other fields.
WiMi's decentralized cloud manufacturing model,
based on blockchain(BC) technology, utilizes a hybrid structure in
its DCMApp architecture design. It combines private and public
blockchains, with the Ethereum network serving as the
public blockchain. The private blockchain is used to store
manufacturing data and resource information within the enterprise,
ensuring data privacy and security. The public blockchain
(Ethereum) is used to record and verify manufacturing
agreements, facilitating decentralized communication
between resource providers and customers through smart
contracts.
Working principles of DCMApp:
Resource registration and publication: Manufacturing resource
providers register resource information onto the DCMApp platform
through the private blockchain and publish it onto the
Ethereum network using smart contracts.
Resource querying and matching: Customers query the required
manufacturing resources through the DCMApp platform, and smart
contracts automatically match suitable resource providers based on
customer demands.
Protocol signing and execution: Customers and resource providers
sign manufacturing agreements through smart contracts, and the
agreement terms and execution status are recorded on the
Ethereum network.
Data recording and verification: Data generated during the
manufacturing process is recorded on the private blockchain, and
key data is uploaded to the Ethereum network for
verification using hash values, ensuring data immutability and
traceability.
Advantages of WiMi's decentralized cloud
manufacturing model based on blockchain(BC):
Firstly, it offers decentralization and transparency: By
utilizing blockchain technology for managing manufacturing
agreements, it eliminates the reliance on third parties, enhancing
the transparency and trustworthiness of agreement execution.
Secondly, it significantly improves security and reliability:
The distributed storage and cryptography of blockchain ensure the
security and immutability of data, reducing the risks of
single-point failures and data breaches.
Furthermore, the hybrid architecture of DCMApp allows
manufacturing agreements to be stored on the blockchain network at
a low cost, eliminating the need for expensive server
infrastructure. It also provides excellent scalability.
As Industry 4.0 advances, the DCMApp of WiMi's
decentralized cloud manufacturing model based on
blockchain (BC) holds broad application prospects in the
manufacturing industry. In the future, DCMApp is expected to become
a crucial infrastructure in manufacturing, driving the intelligent
and digital transformation of manufacturing processes. Furthermore,
with the continuous development of blockchain technology, DCMApp's
functionality and performance will further enhance, bringing more
innovation and value to the manufacturing industry. DCMApp is
poised to serve as a blockchain-based decentralized
cloud manufacturing model, enabling decentralized
communication between resource providers and customers through
smart contracts. It overcomes reliability, security, continuity,
and scalability issues brought by the centralized structure in
cloud manufacturing technology. DCMApp not only enhances the
transparency, cost-effectiveness, and security of manufacturing
agreements but also eliminates reliance on third parties, providing
new impetus for innovation and development in the manufacturing
industry. Against the backdrop of Industry 4.0, DCMApp has the
potential to become a critical infrastructure in manufacturing,
driving the intelligent and digital transformation of manufacturing
processes.
About WiMi Hologram Cloud
WiMi Hologram Cloud, Inc. (NASDAQ:WiMi) is a holographic cloud
comprehensive technical solution provider that focuses on
professional areas including holographic AR automotive HUD
software, 3D holographic pulse LiDAR, head-mounted light field
holographic equipment, holographic semiconductor, holographic cloud
software, holographic car navigation and others. Its services and
holographic AR technologies include holographic AR automotive
application, 3D holographic pulse LiDAR technology, holographic
vision semiconductor technology, holographic software development,
holographic AR advertising technology, holographic AR entertainment
technology, holographic ARSDK payment, interactive holographic
communication and other holographic AR technologies.
Safe Harbor Statements
This press release contains "forward-looking statements" within
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," and similar statements. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements. Among
other things, the business outlook and quotations from management
in this press release and the Company's strategic and operational
plans contain forward−looking statements. The Company may also make
written or oral forward−looking statements in its periodic reports
to the US Securities and Exchange Commission ("SEC") on Forms 20−F
and 6−K, in its annual report to shareholders, in press releases,
and other written materials, and in oral statements made by its
officers, directors or employees to third parties. Forward-looking
statements involve inherent risks and uncertainties. Several
factors could cause actual results to differ materially from those
contained in any forward−looking statement, including but not
limited to the following: the Company's goals and strategies; the
Company's future business development, financial condition, and
results of operations; the expected growth of the AR holographic
industry; and the Company's expectations regarding demand for and
market acceptance of its products and services.
Further information regarding these and other risks is included
in the Company's annual report on Form 20-F and the current report
on Form 6-K and other documents filed with the SEC. All information
provided in this press release is as of the date of this press
release. The Company does not undertake any obligation to update
any forward-looking statement except as required under applicable
laws.
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SOURCE WiMi Hologram Cloud Inc.