Instead, what is required is a permissions mechanism that ensures that the contents of transactions can be released as required for specific participants. This option is provided by so-called permissioned blockchains which, unlike their public counterparts such as bitcoin or Ethereum, do not allow all participants to set up nodes and perform transactions, and which support the assignment of write and read permissions to defined segments of the blockchain.
What makes blockchain technology interesting for industrial applications is not so much the security aspect but instead the possibility of handling and bindingly documenting interactions between partners who do not know each other but have to trust one another without the need for a trusted intermediary. This applies to all types of bilateral or multilateral transactions in which the exchanged assets can be digitally represented and, most importantly, secured. Thus, for example, the payment process for a modern truck could generate an entry in the blockchain that represents an approval for use. The truck's control software can then check the blockchain to determine whether the preconditions necessary for it to travel have been satisfied – for example, if it has been paid for, if it is authorized for the region in which it is currently located, etc.