BEIJING, Nov. 11, 2024 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a pioneering global leader in Hologram Augmented Reality (“AR”) technology, has unveiled an innovative decentralized cloud manufacturing model powered by blockchain technology, termed the Decentralized Cloud Manufacturing Application (DCMApp). This groundbreaking DCMApp leverages the decentralized and immutable qualities of blockchain to streamline protocols and foster direct communication between resource providers and clients via blockchain-based smart contracts (SC). This revolutionary approach significantly boosts the transparency, cost-effectiveness, and security of the cloud manufacturing ecosystem while effectively eradicating the necessity for trusted third-party intermediaries.
Industry 4.0 encapsulates the convergence of advanced information technology with cutting-edge manufacturing practices aimed at creating smart factories and achieving a holistic digitalization and intelligent integration of production methodologies. This transformative paradigm encompasses core technologies such as cyber-physical systems (CPS), the Internet of Things (IoT), big data analytics, and cloud computing, among others. By harnessing these sophisticated technologies, Industry 4.0 empowers adaptive, self-organizing, and self-optimizing manufacturing processes, thereby substantially enhancing production efficiency, elevating product quality, and concurrently minimizing production costs and resource wastage.
Cloud manufacturing revolutionizes traditional production models by harnessing the benefits of cloud computing. This innovative approach allows for the virtualization and sharing of essential manufacturing resources—including equipment, software, capabilities, and expertise—making them accessible as on-demand services. The flexible pay-as-you-go structure inherent in cloud manufacturing technology enables enterprises to harness advanced manufacturing capabilities without incurring the massive capital expenditures typically associated with such resources, thereby drastically reducing overall manufacturing costs and optimizing resource utilization efficiency.
However, the conventional centralized architecture of cloud manufacturing technology presents several significant challenges. Centralized cloud manufacturing platforms often depend on third-party service providers, posing substantial risks associated with single points of failure and potential data breaches. Furthermore, as manufacturing demands escalate, these centralized platforms can become overloaded, leading to service interruptions and performance deterioration. The storage of manufacturing data on third-party servers raises concerns regarding data lock-in, compromising integrity and increasing vulnerability to malicious tampering.
To address these pressing issues, WiMi introduces a decentralized cloud manufacturing model rooted in blockchain technology. Blockchain operates as a decentralized distributed ledger technology, ensuring robust data immutability and traceability through advanced cryptographic protocols and consensus algorithms. Within the blockchain network, each node preserves a comprehensive copy of the data, with new entries undergoing rigorous verification and recording processes to maintain authenticity and data consistency. Furthermore, smart contracts defined by predetermined criteria enable automated execution of contract terms, paving the way for seamless transaction processes and the implementation of complex business logic across diverse fields such as finance, law, and the Internet of Things.
WiMi’s DCMApp represents a stylishly hybrid model that integrates both private and public blockchains within its architecture design. It harnesses the Ethereum network as its public blockchain, while employing a private blockchain specifically to safeguard manufacturing data and resource information within the enterprise, ensuring robust data privacy and security. Meanwhile, the public blockchain (Ethereum) plays a pivotal role in documenting and validating manufacturing agreements, facilitating decentralized interaction between resource providers and customers through the deployment of smart contracts.
Working principles of DCMApp:
Resource registration and publication is streamlined as manufacturing resource providers input and register their resource details onto the DCMApp platform via the private blockchain. This information is subsequently published onto the Ethereum network utilizing intelligent smart contracts.
Resource querying and matching allow customers to efficiently search for required manufacturing resources through the DCMApp platform, where smart contracts adeptly match them with suitable resource providers tailored to their specific demands.
Protocol signing and execution take place as customers and resource providers formalize manufacturing agreements through the execution of smart contracts, accurately recording the terms and the execution status on the Ethereum network for seamless transparency.
Data recording and verification ensure that essential data generated throughout the manufacturing process is meticulously documented on the private blockchain, while crucial data elements are uploaded to the Ethereum network using hash values to guarantee immutability and transparency in traceability.
The advantages of WiMi’s forward-thinking decentralized cloud manufacturing model powered by blockchain technology are manifold:
Firstly, it encompasses decentralization and transparency, removing dependency on third parties by employing blockchain technology for managing manufacturing agreements, thereby cultivating a heightened sense of trust and clarity in agreement execution.
Secondly, it markedly enhances security and reliability through distributed storage solutions and advanced cryptography, mitigating risks associated with single-point failures and potential data breaches.
Additionally, the hybrid infrastructure of the DCMApp facilitates cost-efficient storage of manufacturing agreements on the blockchain network, eliminating the necessity for expensive server infrastructures while providing exceptional scalability.
As the principles of Industry 4.0 are increasingly embraced, WiMi’s DCMApp stands poised to spearhead considerable advancements within the manufacturing sector. This application is forecasted to evolve into a fundamental backbone of manufacturing operations, driving the intelligent and digital transformation of production processes. Furthermore, continuous advancements in blockchain technology promise to enhance DCMApp’s capabilities and performance, yielding greater innovative potential and value enhancement for the manufacturing sphere. In essence, DCMApp is set to serve as a vital decentralized cloud manufacturing model, fostering seamless communication between resource providers and customers through the intelligent implementation of smart contracts. This solution effectively navigates the challenges posed by conventional centralized systems, particularly in terms of reliability, security, continuity, and scalability. Consequently, DCMApp not only bolsters manufacturing agreement transparency, cost-effectiveness, and security but also dispenses with the necessity for third-party involvement, propelling new avenues for innovation and growth across the manufacturing landscape. Under the auspices of Industry 4.0, DCMApp harbors immense potential to emerge as a cornerstone of modern manufacturing, catalyzing the intelligent and digital evolution of production processes.
About WiMi Hologram Cloud
WiMi Hologram Cloud, Inc. (NASDAQ:WiMi) is a trailblazing provider of holographic cloud solutions, with a specialized focus on a myriad of innovative realms, including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductors, along with various aspects of holographic cloud software, navigation, and more. The company’s offerings extend deeply into the universe of holographic AR technologies, encompassing applications such as advanced automotive holographic interfaces, state-of-the-art 3D holographic pulse LiDAR technology, and a suite of creative software solutions that power interactive holographic experiences across diverse sectors.
Safe Harbor Statements
This press release contains “forward-looking statements” in accordance with the Private Securities Litigation Reform Act of 1995. These statements can be recognized by terms such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These forward-looking statements are not historical facts; they convey the Company’s beliefs and expectations concerning various aspects such as business outlook, risk factors, and strategic direction. The Company may also disclose forward-looking statements in its periodic filings with the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in annual shareholder reports, in press releases, and through the spoken remarks of its officers, directors, or employees to third parties. Such statements entail inherent risks and uncertainties that could result in actual outcomes differing materially from those suggested. Key factors include the Company’s objectives and strategies, financial health, and the anticipated growth trajectory of the AR holographic industry, as well as consumer sentiment towards its products and services.
For more information regarding these and other potential risks, please refer to the Company’s annual report on Form 20-F and the current report on Form 6-K, along with other documents filed with the SEC. All information disseminated in this press release is effective as of the date cited. The Company assumes no obligation to revise any forward-looking statement, except when mandated by applicable regulations.
View original content:
SOURCE WiMi Hologram Cloud Inc.
**Interview with Dr. Jane Liu, Chief Technology Officer of WiMi Hologram Cloud Inc.**
**Editor:** Thank you for joining us today, Dr. Liu. WiMi has recently unveiled the Decentralized Cloud Manufacturing Application (DCMApp). Can you explain what prompted this shift toward a decentralized model for cloud manufacturing?
**Dr. Liu:** Thank you for having me. The shift towards a decentralized model is primarily driven by the rise of challenges associated with traditional centralized cloud manufacturing systems, such as vulnerabilities to data breaches, service interruptions due to overloaded platforms, and concerns regarding data lock-in. By leveraging blockchain technology, we aim to enhance transparency, security, and cost-effectiveness while fostering direct communication between resource providers and clients without relying on third-party intermediaries.
**Editor:** That sounds like a significant advancement. Could you elaborate on how blockchain technology facilitates these enhancements?
**Dr. Liu:** Certainly! Blockchain acts as a decentralized, distributed ledger which ensures data immutability and traceability through rigorous cryptographic protocols. In our DCMApp, we combine both public and private blockchains. The private blockchain safeguards sensitive manufacturing data, while the public Ethereum network manages and validates manufacturing agreements, using smart contracts for seamless execution. This innovative architecture not only boosts security and reliability but also mitigates risks of single-point failures.
**Editor:** It seems like DCMApp could transform the way manufacturing processes are managed. What specific advantages does it offer over traditional systems?
**Dr. Liu:** Yes, DCMApp is designed to streamline manufacturing operations. It enhances security through distributed storage, eliminates costly third-party dependencies, and improves operational efficiency through smart contract automation. The hybrid infrastructure allows for cost-effective management of manufacturing agreements and provides exceptional scalability. it cultivates a more transparent and trust-driven environment for all stakeholders.
**Editor:** You mentioned that DCMApp is positioned to be a key player in the evolution of Industry 4.0. How do you envision its role in the intelligent transformation of manufacturing processes?
**Dr. Liu:** As Industry 4.0 pushes for the integration of advanced technologies and smart factories, DCMApp will serve as the backbone for this transformation. It enables adaptive and self-optimizing manufacturing processes by integrating multiple core technologies, including the Internet of Things and big data analytics. With continuous advancements in blockchain, we expect DCMApp to evolve further, offering even more innovative capabilities and enhancing the overall value in the manufacturing sector.
**Editor:** Lastly, Dr. Liu, what message would you like to convey to stakeholders in the manufacturing industry about DCMApp?
**Dr. Liu:** I encourage stakeholders to embrace this transformative opportunity. By investing in decentralized manufacturing models like DCMApp, companies can achieve significant advancements in efficiency, security, and transparency. This is not just a technical upgrade; it marks a paradigm shift in how we think about manufacturing, opening up new avenues for innovation and sustainable growth.
**Editor:** Thank you, Dr. Liu, for sharing your insights. It’s exciting to see how technology is shaping the future of manufacturing.
**Dr. Liu:** Thank you for the opportunity. I’m thrilled about the future we can create together through technology.
WiMi Hologram Cloud Launches Decentralized Cloud Manufacturing Model Using Blockchain Technology
BEIJING, Nov. 11, 2024 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a pioneering global leader in Hologram Augmented Reality (“AR”) technology, has unveiled an innovative decentralized cloud manufacturing model powered by blockchain technology, termed the Decentralized Cloud Manufacturing Application (DCMApp). This groundbreaking DCMApp leverages the decentralized and immutable qualities of blockchain to streamline protocols and foster direct communication between resource providers and clients via blockchain-based smart contracts (SC). This revolutionary approach significantly boosts the transparency, cost-effectiveness, and security of the cloud manufacturing ecosystem while effectively eradicating the necessity for trusted third-party intermediaries.
Industry 4.0 encapsulates the convergence of advanced information technology with cutting-edge manufacturing practices aimed at creating smart factories and achieving a holistic digitalization and intelligent integration of production methodologies. This transformative paradigm encompasses core technologies such as cyber-physical systems (CPS), the Internet of Things (IoT), big data analytics, and cloud computing, among others. By harnessing these sophisticated technologies, Industry 4.0 empowers adaptive, self-organizing, and self-optimizing manufacturing processes, thereby substantially enhancing production efficiency, elevating product quality, and concurrently minimizing production costs and resource wastage.
Cloud manufacturing revolutionizes traditional production models by harnessing the benefits of cloud computing. This innovative approach allows for the virtualization and sharing of essential manufacturing resources—including equipment, software, capabilities, and expertise—making them accessible as on-demand services. The flexible pay-as-you-go structure inherent in cloud manufacturing technology enables enterprises to harness advanced manufacturing capabilities without incurring the massive capital expenditures typically associated with such resources, thereby drastically reducing overall manufacturing costs and optimizing resource utilization efficiency.
However, the conventional centralized architecture of cloud manufacturing technology presents several significant challenges. Centralized cloud manufacturing platforms often depend on third-party service providers, posing substantial risks associated with single points of failure and potential data breaches. Furthermore, as manufacturing demands escalate, these centralized platforms can become overloaded, leading to service interruptions and performance deterioration. The storage of manufacturing data on third-party servers raises concerns regarding data lock-in, compromising integrity and increasing vulnerability to malicious tampering.
To address these pressing issues, WiMi introduces a decentralized cloud manufacturing model rooted in blockchain technology. Blockchain operates as a decentralized distributed ledger technology, ensuring robust data immutability and traceability through advanced cryptographic protocols and consensus algorithms. Within the blockchain network, each node preserves a comprehensive copy of the data, with new entries undergoing rigorous verification and recording processes to maintain authenticity and data consistency. Furthermore, smart contracts defined by predetermined criteria enable automated execution of contract terms, paving the way for seamless transaction processes and the implementation of complex business logic across diverse fields such as finance, law, and the Internet of Things.
WiMi’s DCMApp represents a stylishly hybrid model that integrates both private and public blockchains within its architecture design. It harnesses the Ethereum network as its public blockchain, while employing a private blockchain specifically to safeguard manufacturing data and resource information within the enterprise, ensuring robust data privacy and security. Meanwhile, the public blockchain (Ethereum) plays a pivotal role in documenting and validating manufacturing agreements, facilitating decentralized interaction between resource providers and customers through the deployment of smart contracts.
Working principles of DCMApp:
Resource registration and publication is streamlined as manufacturing resource providers input and register their resource details onto the DCMApp platform via the private blockchain. This information is subsequently published onto the Ethereum network utilizing intelligent smart contracts.
Resource querying and matching allow customers to efficiently search for required manufacturing resources through the DCMApp platform, where smart contracts adeptly match them with suitable resource providers tailored to their specific demands.
Protocol signing and execution take place as customers and resource providers formalize manufacturing agreements through the execution of smart contracts, accurately recording the terms and the execution status on the Ethereum network for seamless transparency.
Data recording and verification ensure that essential data generated throughout the manufacturing process is meticulously documented on the private blockchain, while crucial data elements are uploaded to the Ethereum network using hash values to guarantee immutability and transparency in traceability.
The advantages of WiMi’s forward-thinking decentralized cloud manufacturing model powered by blockchain technology are manifold:
Firstly, it encompasses decentralization and transparency, removing dependency on third parties by employing blockchain technology for managing manufacturing agreements, thereby cultivating a heightened sense of trust and clarity in agreement execution.
Secondly, it markedly enhances security and reliability through distributed storage solutions and advanced cryptography, mitigating risks associated with single-point failures and potential data breaches.
Additionally, the hybrid infrastructure of the DCMApp facilitates cost-efficient storage of manufacturing agreements on the blockchain network, eliminating the necessity for expensive server infrastructures while providing exceptional scalability.
As the principles of Industry 4.0 are increasingly embraced, WiMi’s DCMApp stands poised to spearhead considerable advancements within the manufacturing sector. This application is forecasted to evolve into a fundamental backbone of manufacturing operations, driving the intelligent and digital transformation of production processes. Furthermore, continuous advancements in blockchain technology promise to enhance DCMApp’s capabilities and performance, yielding greater innovative potential and value enhancement for the manufacturing sphere. In essence, DCMApp is set to serve as a vital decentralized cloud manufacturing model, fostering seamless communication between resource providers and customers through the intelligent implementation of smart contracts. This solution effectively navigates the challenges posed by conventional centralized systems, particularly in terms of reliability, security, continuity, and scalability. Consequently, DCMApp not only bolsters manufacturing agreement transparency, cost-effectiveness, and security but also dispenses with the necessity for third-party involvement, propelling new avenues for innovation and growth across the manufacturing landscape. Under the auspices of Industry 4.0, DCMApp harbors immense potential to emerge as a cornerstone of modern manufacturing, catalyzing the intelligent and digital evolution of production processes.
About WiMi Hologram Cloud
WiMi Hologram Cloud, Inc. (NASDAQ:WiMi) is a trailblazing provider of holographic cloud solutions, with a specialized focus on a myriad of innovative realms, including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductors, along with various aspects of holographic cloud software, navigation, and more. The company’s offerings extend deeply into the universe of holographic AR technologies, encompassing applications such as advanced automotive holographic interfaces, state-of-the-art 3D holographic pulse LiDAR technology, and a suite of creative software solutions that power interactive holographic experiences across diverse sectors.
Safe Harbor Statements
This press release contains “forward-looking statements” in accordance with the Private Securities Litigation Reform Act of 1995. These statements can be recognized by terms such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These forward-looking statements are not historical facts; they convey the Company’s beliefs and expectations concerning various aspects such as business outlook, risk factors, and strategic direction. The Company may also disclose forward-looking statements in its periodic filings with the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in annual shareholder reports, in press releases, and through the spoken remarks of its officers, directors, or employees to third parties. Such statements entail inherent risks and uncertainties that could result in actual outcomes differing materially from those suggested. Key factors include the Company’s objectives and strategies, financial health, and the anticipated growth trajectory of the AR holographic industry, as well as consumer sentiment towards its products and services.
For more information regarding these and other potential risks, please refer to the Company’s annual report on Form 20-F and the current report on Form 6-K, along with other documents filed with the SEC. All information disseminated in this press release is effective as of the date cited. The Company assumes no obligation to revise any forward-looking statement, except when mandated by applicable regulations.
View original content:
SOURCE WiMi Hologram Cloud Inc.
**Interview with Dr. Jane Liu, Chief Technology Officer of WiMi Hologram Cloud Inc.**
**Editor:** Thank you for joining us today, Dr. Liu. WiMi has recently unveiled the Decentralized Cloud Manufacturing Application (DCMApp). Can you explain what prompted this shift toward a decentralized model for cloud manufacturing?
**Dr. Liu:** Thank you for having me. The shift towards a decentralized model is primarily driven by the rise of challenges associated with traditional centralized cloud manufacturing systems, such as vulnerabilities to data breaches, service interruptions due to overloaded platforms, and concerns regarding data lock-in. By leveraging blockchain technology, we aim to enhance transparency, security, and cost-effectiveness while fostering direct communication between resource providers and clients without relying on third-party intermediaries.
**Editor:** That sounds like a significant advancement. Could you elaborate on how blockchain technology facilitates these enhancements?
**Dr. Liu:** Certainly! Blockchain acts as a decentralized, distributed ledger which ensures data immutability and traceability through rigorous cryptographic protocols. In our DCMApp, we combine both public and private blockchains. The private blockchain safeguards sensitive manufacturing data, while the public Ethereum network manages and validates manufacturing agreements, using smart contracts for seamless execution. This innovative architecture not only boosts security and reliability but also mitigates risks of single-point failures.
**Editor:** It seems like DCMApp could transform the way manufacturing processes are managed. What specific advantages does it offer over traditional systems?
**Dr. Liu:** Yes, DCMApp is designed to streamline manufacturing operations. It enhances security through distributed storage, eliminates costly third-party dependencies, and improves operational efficiency through smart contract automation. The hybrid infrastructure allows for cost-effective management of manufacturing agreements and provides exceptional scalability. it cultivates a more transparent and trust-driven environment for all stakeholders.
**Editor:** You mentioned that DCMApp is positioned to be a key player in the evolution of Industry 4.0. How do you envision its role in the intelligent transformation of manufacturing processes?
**Dr. Liu:** As Industry 4.0 pushes for the integration of advanced technologies and smart factories, DCMApp will serve as the backbone for this transformation. It enables adaptive and self-optimizing manufacturing processes by integrating multiple core technologies, including the Internet of Things and big data analytics. With continuous advancements in blockchain, we expect DCMApp to evolve further, offering even more innovative capabilities and enhancing the overall value in the manufacturing sector.
**Editor:** Lastly, Dr. Liu, what message would you like to convey to stakeholders in the manufacturing industry about DCMApp?
**Dr. Liu:** I encourage stakeholders to embrace this transformative opportunity. By investing in decentralized manufacturing models like DCMApp, companies can achieve significant advancements in efficiency, security, and transparency. This is not just a technical upgrade; it marks a paradigm shift in how we think about manufacturing, opening up new avenues for innovation and sustainable growth.
**Editor:** Thank you, Dr. Liu, for sharing your insights. It’s exciting to see how technology is shaping the future of manufacturing.
**Dr. Liu:** Thank you for the opportunity. I’m thrilled about the future we can create together through technology.
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