Ten Things You Didn't Know About The Heavy Machinery Industry and Its Evolution

Probably you have been watching TV documentaries that present the world’s biggest machines, or maybe you have even seen such vehicles around the place you live in. But, without a doubt, there still a lot of well-kept secrets or interesting facts that you still have to hear about the heavy-duty machines that change the way all sorts of activities are run now.

1. Were you aware that such heavy equipment dates from the first century BCE? Historians have found information that describes heavy equipment and cranes, used in the ancient city of Rome, in Italy. 15 centuries later, the piledriver was invented.

2. Of course, until the beginning of the 20th century, such vehicles were energized by human or animal power.

3. Then, steam-powered engines and internal-combustion engines became to be the main power source for all types of heavy-duty machines.

4. Did you know that these powerful tractors and vehicles are now used not only for the industries we mentioned earlier but also in the military? Just think of the combat engineering vehicles (that most of us simply call tanks).

5. So, did you know that these heavy equipment are used for construction, mining, forestry, and agriculture? This global market is considered to have an actual worth of more than 1 trillion US dollars (maintenance operations, sales, leasing - for both used and new vehicles)!

6. At a global level, the service and parts market volume reach a value of 460 billion US dollars.

7. More and more sales are now done online - in 2016, 53% of the deals were done over the internet.

8. Most of the acquisitions for used heavy equipment are also done through specialized websites.

9. This market has several issues that it seems to have a hard time fixing - there is a lack of trust and transparency regarding the data related to these vehicles or the buyers and sellers; it seems hard to control maintenance procedures; intermediaries increase costs and prices; there is no direct interface or platform to permit buyers and owners to interact; the local market imposes its own rules and access to the global market seems impossible, often.

10. To address the problems that we just mentioned, a new platform was designed and is about to be fully functional: IronBlock is innovative and decentralized platform for “machinery condition verification, maintenance services optimization and it guarantees compliance with all the contractual obligations for transactions between participants in the market of construction, mining and agricultural machinery”.

Thus, IronBlock will manage to solve two important issues frequently met in this market, and so:

• Will prove the validity of information about machinery
• Will guarantee compliance with contractual obligation between participants in trading/service providing

Have you ever thought that the blockchain’s capabilities could be so easily adapted to fit the needs of this enormous market? To learn more about the current market status, understand the complexity of the ecosystem IronBlock creates and even invest in its ICO, go to https://ironblock.io/en/. You will find a lot of useful resources and even get the bonus joining the preICO!

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