Revolution in heavy industry resale market!

As part of the consortium of three companies, XTrack, Fortaco, and Future Processing, we provide telematics solutions that are a key element of the project. By utilising IoT, machine learning, and blockchain technology, the project enables the creation of accurate residual value estimates for heavy machinery from the secondary market.

How does it work?

Up until now, the resale market for machinery has lacked the necessary tools to accurately assess the expected lifespan of equipment. This is because there have been no reliable methods for determining the actual usage history of the machine.

The XTrack platform is designed to record data from dedicated sensors that, throughout the machine's entire usage period, take millions of measurements of the loads on its critical structural components. This data, processed using algorithms from Fortaco and Future Processing, constitutes a precise log for each unit of equipment, allowing for the assessment of the actual degree of wear and, consequently, the accurate residual value of the machine. The security of this data is ensured by blockchain technology.

Besed on text: https://www.future-processing.com/case-studies/smart-steel/

Photos: Boukaih on Unsplash, Built Robotics on Unsplash