# New Business Models in Manufacturing with Michael Cromheecke

- Show: [Manufacturing Happy Hour](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour)
- Published: 2019-11-18
- Length: 1h 07m
- Page: https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke
- Listen: http://manufacturinghappyhour.com

## Summary

Michael Cromheecke, Co-Founder of SteamChain, explains how his company enables 'Machine-as-a-Service' models by using blockchain-based shared ledger technology to align financial incentives between equipment manufacturers and end-users. He details the transition from his 18-year career at Rockwell Automation, where he observed finger-pointing blame games, to founding SteamChain to solve the lack of trust in data ownership. The discussion highlights specific implementations like performance warranties and feature management, using partners such as Pearson Packaging and HMS E1 gateways to demonstrate scalable, transparent financial transactions based on machine performance data.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=0) Introduction: Michael Cromheecke and SteamChain
- [7:16](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=436) Defining Machine-as-a-Service and Industry Comparisons
- [10:51](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=651) Cromheecke's Career at Rockwell Automation and Problem Identification
- [16:12](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=972) The Challenge of Data Transparency and Trust in Manufacturing
- [23:45](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=1425) From Corporate to Startup: Why SteamChain Was Founded
- [33:59](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=2039) Case Study: Pearson Packaging and Financial Modeling
- [40:30](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=2430) Unique Challenges in Industrial vs. IT/Printer Markets
- [44:53](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=2693) Blockchain as Shared Ledger Technology, Not Cryptocurrency
- [50:35](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=3035) Stepping Stones: Performance Warranties and Feature Management
- [55:16](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke#t=3316) Engagement Model, Reference Architecture, and Revenue

## Topics

- [Starting a product company](https://hardwarepodcasts.com/topic/starting-a-company)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Connected products & IoT](https://hardwarepodcasts.com/topic/connected-products-and-iot)
- [Industrial & consumer product design](https://hardwarepodcasts.com/topic/industrial-design)
- [Chips, FPGAs & semiconductors](https://hardwarepodcasts.com/topic/chips-and-fpgas)

## Most relevant to

early-stage companies

## Mentioned

- SteamChain (company)
- Rockwell Automation (company)
- Pearson Packaging (company)
- HMS E1 (tool)
- Allen Bradley (company)
- Northwestern Mutual (company)

## Related episodes from other shows

- [EMS@C-LEVEL Season #2021 Episode #8 with Anna-Katrina Shedletsky, Instrumental](https://hardwarepodcasts.com/podcast/ems-c-level/2021-08-09-ems-c-level-season-2021-episode-8-with-anna-katrina-shedletsky-instrumental) (EMS@C-LEVEL)
- [Utilizing AI for Predictive Maintenance in Manufacturing | Augury’s Saar Yoskovitz](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2021-01-19-utilizing-ai-for-predictive-maintenance-in-manufacturing-augurys-saar-yoskovitz) (IoT For All Podcast)
- [Digital Transformation in Smart Factory Settings | MachineMetrics's Dave Westrom](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2021-09-13-digital-transformation-in-smart-factory-settings-machinemetricss-dave-westrom) (IoT For All Podcast)
- [Managing 250 Million Messages Per Day](https://hardwarepodcasts.com/podcast/over-the-air/2022-05-12-managing-250-million-messages-per-day) (Over the Air)
- [Relayr's Guneet Bedi | Creating Sustainable Business Models with IIoT](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2020-05-22-relayrs-guneet-bedi-creating-sustainable-business-models-with-iiot) (IoT For All Podcast)

## Citing this page

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