There is no doubt that iVAULT will be of great use to individual consumers and businesses alike. Just take a look at the information given on the homepage, and find out for yourself.
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The iVAULT video production gavve me the chance to see a passionate team come together to make something truly innovative possible. With this blog entry you can take a peek behind the scenes of this fascinating project.
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It all happened pretty quickly. Urs called me one day and told me to get the camera ready for some videos we had to make. Something new was coming: iVAULT.
In short, he said, it is a global network for users to register assets, such as lost or stolen goods, to search for, and identify them on a blockchain. Companies, for example, can protect their supply chain against counterfeits and contraband.
Medical technology manufacturers and luxury goods suppliers can all protect their supply chains. Insurance companies can use iVAULT’s fintech to serve their clients better while speeding up claims processing.
So I came to Zurich, Switzerland, to get to know the team of Vault Security Systems AG. I have already been working with Urs E. Gattiker, Chief Operating Officer, for quite some time. He has a history of coming up with ideas, realising them and executing them successfully – something called having a very good track record.
Below he talks about the basic questions that come to mind when it comes to the new technology and brand:
What is iVAULT and how does a blockchain work?
Urs introduced me to Arman Sarhaddar, Chief Executive Officer and founder, the man who had the idea to create iVAULT in the first place. He got Lothar Rentschler to join the team. Lothar is now Chief Marketing Officer of Vault Security Systems AG.
These three have a clear vision about how to use iVAULT. They discussed with one another and myself how many different target groups could take advantage of blockchain technology. Art lovers, collectors, and manufacturers (of machines, medical technology, car parts and so forth), as well as consumers can better protect their products or possessions with iVAULT’s help.
In short, iVAULT is beneficial for pretty much everyone.
The meeting brought together a vast number of different ideas. FInally being in the same room together made it possible to unite interests and ideas in order to act in concert.
It was as much fun as it felt productive to be a part of this. But let’s get to the point.
In his video, Arman Sarhaddar wanted to tell us about how he got the idea to create iVAULT. He would have been glad to have a platform like this back when he got robbed and lost so many valuable belongings he loved.
Arman could have searched for his belongings on the blockchain, and ultimately, might have found the stolen items. It is possible for anyone to do so on thousands of computers, because once a transaction is registered on the blockchain, it cannot be changed or tampered with.
Maybe the thief sold Arman’s wooden sculpture. If Arman had it registered on the blockchain, the buyer could have checked online, to see if the seller could produce proof of ownership. Without it, the thief could not have sold it. That is how easily fraud can be detected with iVAULT.
For businesses the use of the blockchain technology with iVAULT is even more effective. Any counterfeit product causes the manufacturer revenue loss. Plus, these products are not genuine and are likely to operate less perfectly than the original.
Cheaply reproduced medication, which is not stored properly or uses improper ingredients hurts patients badly and can cause death.
This all undermines the brand’s reputation. With iVAULT we are able to truly protect what’s ours – against theft and fakes.
I would have used iVAULT, too
As a cinematographer, I feel privileged to have made the first three videos for iVAULT.
When we discussed what we wanted to share with viewers, I realised I would have been glad if the platform had existed two years ago. At that time, I decided to start my own venture while a full-time student. I purchased my first piece of equipment secondhand, a steadycam. But when it arrived, I noticed that it did not work properly and that it was a fake. I had a lot of difficulty getting my money back.
What convinced me personally about iVAULT, was that it would have been so much easier to check whether the genuine product was being offered to me at the time. Moreover, it would have been very affordable to protect my money by first checking with iVAULT before buying the used camera.
Of course, Lothar Rentschler knows even better what he is talking about when he praises the high market potential of iVAULT. And that is why you should definitely watch his video next:
What’s your opinion?
iVAULT is the first global network to use blockchain technology for registering and identifying assets (such as lost items or stolen goods). It lets users register their items on the blockchain, search for, and identify them.
In his video, Urs E. Gattiker gives you a short summary about:
- What is iVAULT and how does the blockchain work?
- What four business challenges does iVAULT address? Like authenticity and information security, records being encrypted,
- How does iVAULT make sure that no fake product enters a company’s supply chain?
blockchain is an electronic database of transactions that is continuously updated and verified.
It offers a verifiable, immutable, and public record of transactions such as:
- stock borrowing and lending,
- transfer of product ownership,
- repair or warranty work on a machine using genuine parts, AND
- electronic patient records.
This digital ledger of activity helps buyers and sellers to be sure that what they purchase is the real thing and not counterfeit.
So, what do you think?
- Have you ever used a blockchain?
- Do you want to try iVAULT, or do you still have some concerns?
- Have you ever had a problem iVAULT would have immediately solved? You lost something of great value or bought a fake product? It must have been very upsetting. Tell us about it, we’d like to hear your story.
Join in the discussion and leave a comment. We will respond soon.