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Feb. 24, 2025, 5:49 p.m.
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Revolutionizing Printing: Lucid Dream Software's Blockchain Innovation

Brief news summary

The pandemic has accelerated the embrace of decentralized assets, including cryptocurrencies and NFTs, leveraging blockchain technology to strengthen ownership rights. While concerns about the volatility of “meme coins” persist, enthusiasm remains high for blockchain's potential to revolutionize asset management and enhance operational efficiency. Lucid Dream Software is leading this change with its Smart Supply System, an innovative blockchain platform designed to improve security and efficiency in printing operations by establishing permanent digital records for physical assets. This initiative was inspired by challenges faced in a pet microchipping project, highlighting the critical need for reliable decentralized record-keeping. The Smart Supply System functions as an immutable digital ledger, providing unique identifiers for both assets and users. Its objective is to digitize the entire printing process, overseeing consumables and licensing agreements to comply with legal print limits while protecting the integrity of artwork. Projections indicate that global investments in blockchain technology will soar from under $1 billion in 2017 to nearly $19 billion by 2024, affirming its significance in modern workflow management.

The concept of cryptocurrency initially surfaced primarily through non-fungible tokens (NFTs), which gained popularity during the pandemic as unique digital assets akin to baseball cards but impossible to physically hold. Ownership of NFTs relies on the blockchain, and while their market has declined, interest in cryptocurrencies—especially Bitcoin—remains strong despite skepticism surrounding "meme coins" and dubious trading practices. Blockchain technology itself continues to thrive, offering a decentralized method of ownership that holds promise for various applications, particularly in asset management and workflow processes. For instance, businesses often face risks if their software goes under or data is tampered with.

Lucid Dream Software aims to address these risks by utilizing blockchain to create lasting digital representations of physical objects, a concept termed "tokenization of real-world assets. " Their new platform, Smart Supply System, seeks to enhance the printing industry by integrating blockchain into the workflow for tracking materials such as inks and substrates and managing licensing agreements. According to David Lewis, president of Lucid Dream, the inspiration for this platform came from an experience at a veterinarian’s office where he realized the importance of securely storing information. The Smart Supply System aims to tokenize every step in the printing process and integrate critical data—like SKUs and pricing—into the workflow, enabling better control over production and legal compliance. Globally, investment in blockchain technology has surged, from nearly $1 billion in 2017 to projected figures rising to $19 billion by 2024. Lewis emphasizes that the Smart Supply System allows users to benefit from blockchain features without needing to understand cryptocurrencies or digital wallets, ensuring seamless integration of this technology into existing management systems.


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