How SteamChain works
Built atop secure blockchain technology, SteamChain’s Secure Transaction Engine for Automated Machinery (STEAM) leverages existing machine data as the framework for automated incremental transactions between end-users and original equipment manufacturers.
Each process is logged automatically, is free from tampering and made accessible via secure dashboards for OEMs and end-users.
- Contracts and terms established between OEMs and end-users
- Machine data is monitored and reported to the SteamChain ledger
- Data is checked against existing contracts and agreements
- Payments are made processed through ACH or traditional accounts payable process
By integrating with standard industrial architectures and control platforms, SteamChain’s Secure Transaction Engine is able to take existing machine data and apply it towards business models that create value for equipment manufacturers and their end-users. Below are our most common Machine-as-a-Service applications deployed among our manufacturing partners.
With a performance-based warranty, contracts and claims are executed automatically at certain productivity and performance intervals based on agreed-upon terms. No need for a drawn-out claims filing process or reporting and storage of machine information/data.
Under a usage-based financing model, end-users can lower the initial capital necessary to invest in new equipment and pay incrementally over time, while equipment manufacturers can obtain ongoing revenue based upon a machine’s production output (units produced) or uptime.
Feature management enables OEMs to deploy advanced features and upgrade options to existing machines through a pay-per-use or subscription-based transaction model. Under this framework, end-users have the opportunity to customize their equipment to desired production through the SteamChain dashboard.
Automated Service Agreements
Automated service agreements through SteamChain allow OEMs and end-users to optimize machine performance and conduct service at regular intervals, with real-time equipment data serving as the signal for service scheduling and deployment.
The Steam Locker
The Steam Locker is a single-solution, user-friendly repository for tracking physical products, machine data, documentation, manuals and more. End-users are able to view and validate their code and contracts, and monitor their equipment’s value throughout its lifecycle.
While SteamChain’s platform is centered around using real-time machine data to generate financial transactions, the building blocks of our platform allow it be incredibly versatile. Any data, metric or outcome a manufacturer wants to measure and monetize, our team can assist in making possible.
Smart Contract Development
SteamChain develops and deploys smart contracts and agreements to ensure OEMs and end-users find common ground on their path to delivering desirable business outcomes.
Secure IoT Communications
Our blockchain-based Secure Transaction Engine enables OEMs to deploy multi-party contracts to manage financing, operation, service and warranties for machines and devices.
With decades of experience in manufacturing and industrial automation, SteamChain is available to offer guidance in the implementation of manufacturing technologies.