According to news, the Government of Aragon will invest $13 million to develop ‘Industry 4.0’. The announcement made on Feb 12 by local news, indicated that the development will include blockchain technology, artificial intelligence and other emerging technologies.
Aragon’s Operational Program
As a matter of fact, the European Regional Development Fund co-financed the amount for the 2014-2020 Operational Program of Aragon. Originally, the planned investment was half the amount of the investment. Further, the allocated funds are for the development, analysis and planning of industrial property and consulting projects
The program has been drafted to specifically help small and medium enterprises in Aragon to adopt digitization into their products and processes. Also, it aims to facilitate development of R&D in technology companies so as to promote digitization of the industry. Therefore, the program intends to promote and create awareness of the Industry 4.0 and associated technologies. Reportedly, representatives from industrial sectors such as research centers and technology firms will formulate digital solutions for the industry under the Aragon operational program.
Further Developments in Spain
In January, Repsol, an energy company in Madrid, successfully tested a blockchain pilot. Also, the test conducted will enhance the safety certification quality of products. Furthermore, Repsol saves $450,000 every year through the integration of blockchain technology to reduce errors.
Similarly, the Port Authority of the Bay of Algeciras signed an agreement in the same month. Under the agreement, Tradelens, the blockchain shipping platform, will collaborate with IBM. The platform will facilitate efficient and secure information exchange and documentation between supply-chain partners.