Reducing possible lost sales and revenues due to fake products.

Mit dem privaten und dem öffentlichen Schlüssel Transaktionen sichern.

Arman Sarhaddar talks about counterfeiting

Arman Sarhaddar, the CEO and founder of Vault Security Systems AG was invited to write guest articles for Industry of Things, a German online platform for expert insights on topics we are all interested in like Internet of Things (IoT), Artificial Intelligence (AI) and Blockchain technologies.

This blog entry is giving you a translation of what Arman is talking about in his first guest article which is available in German here.

In short, Arman explains, that Amazon’s transparency program is still not the ultimate answer to the problem of counterfeit products. But the fact that one of the world’s largest online retailers is announcing that it will provide more transparency when it comes to product authenticity shows the urgent need for action.

Mit dem privaten und dem öffentlichen Schlüssel Transaktionen sichern.

The struggle with counterfeit products

 

A few weeks ago, the e-commerce giant Amazon announced that it was rolling out its transparency program in Europe. Manufacturers can then provide their authentic products with a QR code that provides retailers and customers with unambiguous proof of authenticity. In this way Amazon wants to counteract the flood of fake products and create more trust among its customers. The approach is basically welcome – but Amazon Transparency has limitations especially when it comes to some special groups of products.

With the Transparency program, Amazon is primarily concerned with improving its own image. The reputation of the US company has suffered from fraud, falsified valuations and product imitations, particularly among retailers. But Transparency is not equally suitable for all products. It is a form of labelling that works for goods that are actually primarily about authenticity, such as clothing and bags. However, this is not enough for products with an elaborate supply chain where claims for damages play a role. Examples include medical products. Customers in this sector have to be sure that they have not purchased a counterfeit, that could in the worst case be harmful to health. This is why tracking ingredients is critical in the medical sector in particular.

3 reasons why blockchain can help

 

First, once fed in data is unchangeable, subsequent manipulation is excluded. Another blockchain characteristic is that all available information is stored and verified decentrally on all computers connected to the network.

Secondly, the blockchain is virtually unhackable, since changes always have to be made in the majority of nodes.

Thirdly, transaction costs can be significantly reduced by skipping middlemen. In particular, the use of Smart Contracts simplifies data management and automation.

An example of how tracking can be implemented on the blockchain is the iVAULT pilot case with the Swiss company Golisan GmbH. Golisan produces herbal extracts which are sold online – mostly via Amazon. In view of counterfeit products and in terms of quality assurance, it is important to the manufacturer on the one hand to guarantee the authenticity to the customer and on the other hand to be able to trace the origin of the ingredients completely. Counterfeit food supplements are a lucrative business because they are less strictly monitored than prescription drugs. Fake products are sold via Amazon in particular, so the online giant recently sent a warning to affected customers.

Apart from the potentially serious consequences of taking counterfeit dietary supplements, the counterfeits have a negative impact on the business balance and reputation of the actual manufacturers. Beyond the authenticity guarantee, the manufacturer’s goal is to monitor the entire supply chain to provide maximum security for its customers. For this reason, all suppliers have access to the blockchain and can store information on the ingredients: from the harvest of the plant raw materials to their further processing and the container in which the product is sold. For this application, it is advisable to use software that has been developed for this kind of collaboration so that data can be exchanged with other areas of technology. This also facilitates the integration of the blockchain into the existing supply chain management.

Blockchain solutions can be implemented in a resource-saving way

One of the biggest points of criticisms frequently voiced about blockchain technology is its comparatively high energy consumption. However, a distinction must be made between mining activities, which are necessary for crypto currencies and are actually very energy-intensive, and applications for companies, such as securing the supply chain. The latter takes place in a private blockchain and without the computationally expensive proof of work. So the energy requirement is no higher than that for common web apps. Additionally, since fewer nodes are involved, the transaction speed can be increased.

Examples such as Amazon’s Transparency show that companies are concerned with the security of their goods against counterfeiting, but they are not yet exploiting the full potential that would be possible with blockchains. The technology has long since arrived in practice and simplifies processes beyond crypto currencies that were previously cumbersome or even impossible to carry out. When selecting a technology partner, companies should consider whether the solution can be well integrated into the existing IT. This will lay the foundation for more transparent supply chain security and valid proof of authenticity.

What do you think?

 

Industry of Things brings together experts from IT and industry to facilitate interdisciplinary exchange across boundaries. Not only more than 40 editors report on current developments in the Internet of Things and industry, but also experts whose proximity to practice offers a new perspective on applications, technologies or IT security as well as political and current topics. Arman Sarhaddar is from now on sharing his expert knowledge on blockchain and InfoSec on this high-ranking platform as well. We will keep you updated on a regular basis.

Have you already signed up for your copy of the iVAULT newsletter? If not, you can quickly subscribe here.

Join in the discussion and leave a comment. We will respond as soon as possible.

  • What do you think of Amazon Transparency and the potential of the iVAULT blockchain in this sector?
  • Soon you will be able to take iVAULT for a test drive… what do you think of it?
  • What other issues would you like to see discussed on our blog? Would you like more facts about blockchain, like we provide on FinTech, MedTech or luxury goods? Let us know in a comment below.

Please help iVAULT reach more people and share this post on your social media – with only one click on a button below  ↓ ↓

ivault at malta ai & blockchain summit 2019

iVAULT at Malta AI & Blockchain Summit 2019

In short, part of Vault Security Systems AG’s management team represented the new brand iVAULT at the 2019 Malta AI & Blockchain Summit.
We were excited to have the chance to get to know some of the 100 Startups, 700 Investors, 5500 delegates, and 150 exhibitors.
As you might guess, it was a great opportunity to network with other companies and professionals in the fields of blockchain, big data, artificial intelligence (AI), internet of things (IoT), and quantum technologies.

ivault at malta ai & blockchain summit 2019

iVAULT is growing by the minute

 

As you can see in the list provided above, this year we have already been to the World Economic Forum in Davos, and the Global InsurTech Summit in Istanbul.

The Malta AI & Blockchain Summit is such a huge event that the island, which is a country of its own, has truly become the “The Blockchain Island”, if not “The Blockchain Country”.

2018 was the year Malta cemented itself as The Blockchain Island with the launch of three bills during the Malta AI & Blockchain Summit last November.

In 2019, the Blockchain & AI Nation is moving beyond the hype. The Maltese Government will enact a world first: a fourth bill, giving a D.A.O. its own legal personality. In addition, a task force is also working around the clock on a set of incentives that will support businesses in Artificial Intelligence.

Malta was another great opportunity to meet a lot of inspiring minds and their pioneer companies in blockchain and AI technologies. In the picture below, we had a chat with Hamza Afifi, the organiser of the summit.

From left to right: Lothar Rentschler, our CMO; Hamza Afifi, the administrator of the Malta AI & Blockchain Summit; Arman Sarhaddar, our CEO

From left to right: Lothar Rentschler, our CMO; Hamza Afifi, the administrator of the Malta AI & Blockchain Summit; Arman Sarhaddar, our CEO

Due to the number of participants and visitors, we did extensive networking and capitalised on numerous new connections. Of course, the great lectures were noteworthy, too. With approximately 200 speakers, we didn’t get the chance to listen to every single one of them (even though we were interested in all of these). The keynote presentation was given by Joseph Muscat, the Prime Minister of Malta.

We also participated in some workshops and conferences. Our core issues were of interest:

  • Blockchain for Transport & Logistics, and
  • Blockchain for Healthcare.

These were all panel discussions with several participants.

People were also inspired by iVAULT, our global blockchain-based platform to protect company supply chains against counterfeit. Of course, we talked about InfoSec / Cybersecurity and GDPR Compliance as well. In just a few days, our network expanded grew significantly. In fact, we can’t wait for the next big event – hopefully we’ll see you there, too.

In the video “Highlights | AIBC Summit May 2019” below, you can get an insight of the amazing atmosphere on the premises. The power of the forward-thinking attendees is striking.

What do you think?

 

If you didn’t have the chance to get to Malta and want to find out more, you can read this article about the first day of the AIBC Summit. Or you can read their magazine “Block”, a biannual publication on the pioneering applications of AI & blockchain technologies with a specific focus on the industry in Malta. It gives a quick overview of our experience there.

Have you already signed up for your copy of the iVAULT newsletter? If not, you can quickly subscribe here.

Join in the discussion and leave a comment. We will respond as soon as possible.

  • What do you think of the AIBC Summit in Malta, have you been there?
  • Take iVAULT for a test drive right now… how could you ever be without it?
  • What other issues would you like to see discussed on our blog? Would you like more facts about blockchain, like we provide on FinTech, MedTech or luxury goods? Let us know in a comment below.

Please share this post on Linkedin, Xing, Instagram, and other social media with this link: https://vaultsecurity.io/?p=1474

CNN Interview iVAULT TV

CNN Interview: What is unique about iVAULT?

In short, VAULT, our revolutionary product is once again in the spotlight:
CEO Arman and COO Urs are interviewed by well-known CNN journalist Amanda Kayne.
Watch the full-length interview below.
You will certainly gain some new insights about the iVAULT Blockchain.

CNN Interview iVAULT TV

Already seen our informative interview on YouTube? No?
Then you should subscribe to our YouTube Channel right away.

Companies benefit from iVAULT

 

In our last blog post we told you about Arman’s successful appearance at the 2019 InsurTech Summit in Istanbul. A video was posted on LinkedIn, which you can watch here.

But today we have even bigger news for you!

CNN’s iVAULT interview will be broadcast on television by CNNMoney Switzerland from May 27 to 31, 2019, and naturally, our product is the centre of attention as CNN anchor Amanda Kayne speaks with our CEO, Arman, as well as our COO, Urs.

For over 20 years, CNN’s Amanda Kayne has been known for her insightful reporting and engaging interview style. With a history of hosting guests ranging from Bank Julius Baer to SIX to Google, among others, it’s hardly surprising that she asks the right questions.

Chief Executive Officer and Founder Arman Sarhaddar starts by describing the product. For those who don’t yet know, iVAULT is a global network that registers and identifies its users’ assets, for example, lost or stolen items.

This not only has advantages for the individual user, but companies such as Golisan also benefit from the innovative use of distributed ledger technology. These companies can use iVAULT to prevent counterfeit products from entering their supply chain, thereby damaging their reputation and destroying their customers’ trust.

We already know how Arman developed the idea from one of the first videos about iVAULT. Arman told the story of a personal theft that prompted the idea for the new platform. Having this techonology back then would have made it possible to track his stolen belongings.

Arman Sarhaddar proudly introduced the iVAULT product in an interview with CNN today.

Arman Sarhaddar proudly introduced the iVAULT product in an interview with CNN today.

Urs E. Gattiker, Chief Operating Officer, explains in more detail how blockchain technology works in the video below, and how easy it is to track if, for example, original parts were used to repair elevators or airplanes. Whether luxury goods like cars and watches or plant-based dietary supplements like Golisan‘s products (which have already been registered in the blockchain), you probably won’t find another technology that makes it so easy to ensure the safety of products in every imaginable area.

As Urs clearly explains, information security (InfoSec) also plays a vital role for Vault Security Systems AG. And hardly anyone knows more about data privacy and cybersecurity than Urs. Our team attaches great importance to ensuring the GDPR compliance of our customers organisations, according to EU standards.

So, what’s the goal now?

 

In the interview (see video above), Urs addresses a massive global problem:

…the latest data from the OECD already show that [in] 2016… 6.8% – and by the year 2020 it will be 10% – of all imported products into the EU, […] are counterfeit. And that’s what we want to reduce.

There could be far more counterfeit products than the study by the Organisation for Economic Co-operation and Development (OECD) and the European Union Intellectual Property Office (EUIPO) found, since there is probably a high number of unreported cases. The extent and effects of counterfeit or fake products can be devastating.

With iVAULT, this number can be drastically reduced, as it is easy to trace whether a product is original or not. The decentralised database ensures that information regarding a product can no longer be changed after being entered as part of registration or noting repairs. Such a change would require verifying thousands of public and private users’ computers before the blockchain would accept and integrate it.

For Vault Security Systems AG, the focus is always on customer service. Nothing is more important than meeting the demands of our users and keeping our promises.

As Amanda Kayne puts it, “Sounds like the ideal solution for companies with great responsibility…”

That is why we make sure our platform shares this responsibility, making the task of staying accountable considerably easier for our customers.

What is your opinion?

 

Have you already signed up for your copy of iVAULT newsletter? If not, you can quickly subscribe here.

Join in the discussion and leave a comment. We will respond soon.

  • In your opnion, what other businesses should be using the iVAULT blockchain to protect their supply chain, so you can trust their products?
  • Take iVAULT for a test drive right now… how could you ever be without it?
  • What other issues would you like to see discussed in our blog? Do you still like information about FinTech, MedTech or luxury goods? Let us know in a comment below.

Please share this post on Linkedin, Xing, Instagram, and other social media with this link: https://vaultsecurity.io/?p=1332

Arman Sarhaddar iVAULT at InsurTech Summit, Istanbul, Turkey

Inspiring talk about iVAULT at InsurTech

Click here to watch the Interview

 

In short: At the Global InsurTech Summit in Istanbul, CEO and founder of Vault Security Systems AG (VSSAG) Arman Sarhaddar, gave an inspiring speech about the iVAULT blockchain and the future of the innovative use of distributed ledger technology. The event was a great success for all of us and the compliments stacked up quickly…

To stay updated about everything that happens, subscribe to our iVAULT Newsletter, and GET NEWS FIRST.

Subscribe to our YouTube channel for the latest videos as well.

Read this article in German here.

The iVAULT Speech

 

In the last blog entry you were given a concrete example of what the cooperation between Golisan GmbH and VSSAG looks like. Companies can now protect their supply chain from counterfeit products in a very simple way and thereby guarantee customer confidence in the authenticity of their optimally protected products.

We also mentioned after visiting the World Economic Forum in Davos at the beginning of 2019 that parts of the management team were going to Istanbul to attend another big event: the Global InsurTech Summit in Istanbul.

Vault Security Systems at the 2019 InsurTech Summit in Istanbul

Vault Security Systems at the 2019 InsurTech Summit in Istanbul

As one of the speakers, Arman was once again able to eloquently and charismatically explain the iVAULT blockchain’s enormous market potential to his listeners. It brought people closer to the many advantages and opportunities that users of VSSAG’s global platform for the protection of material goods will benefit from when they register their products or possessions. This applies to large corporations and businesses as well as to private users who want to protect their luxury goods like watches, cars, or original works of art.

The InsurTech Hub Istanbul team then wrote:

Dear Arman,

We would like to extend our sincerest gratitude towards you for your motivational speech during the conference held in Istanbul. Your views on developing an effective insurtech strategy and its execution have broadened our horizons.

Please accept our appreciation for such a commendable job. Every participant will take your words into practice. You have covered essential elements of insurtech strategy and your description of how to execute it is remarkable.

We once again would like to thank you for such a wonderful speech and hope to get a chance to hear such speeches from you in future also.

Luckily, this interview from the InsurTech Summit was posted to LinkedIn a few days ago. So we are able to gain some insights without having been there.

Arman’s keynote presentation on topics such as iVAULT FinTech or MedTech, InfoSec (information security), and cybersecurity was not the only focus of the team’s visit to Turkey. In addition, we also wanted to forge new contacts with interesting people who also represented their companies there.

Photos of the event can also be seen here.

iVAULT @ Global InsurTech Summit in Istanbul, Turkey

iVAULT @ Global InsurTech Summit in Istanbul, Turkey

But after this successful appearance the founder and his company hit the ground running and will soon move on to the Kapsch Security Day 2019 on 25 April 2019 in the Aula of Sciences in Vienna. This event deals with current security threats, as well as technological innovations and trends in the field of physical, organisational, and IT security. As you can see, it is an event iVAULT must attend.

So, in case you did not make it to Istanbul, here you have another opportunity to meet Arman Sarhaddar in person. But, if you don’t make it this time, your next opportunity will certainly come sooner, not later – guaranteed!

What is your opinion?

 

Have you already subscribed to the iVAULT newsletter? If not, you can quickly subscribe here.

Join in the discussion and leave a comment. We will respond soon.

  • Did you attend the InsurTech Summit in Istanbul as well? What was your impression?
  • In your opnion, what other businesses should be using the iVAULT blockchain to protect their supply chain, so you can trust their products?
  • Take iVAULT for a test drive right now… how could you ever be without?
  • What other issues would you like to see discussed in our blog? Do you still like information about compliance, data privacy, or trust? Let us know in a comment below.

Please share this post on Linkedin, Xing, Instagram, and other social media with this link: https://vaultsecurity.io/?p=1269

Golisan iVAULT geschützte Supply Chain

Golisan protects their products with iVAULT

In short: The company Golisan GmbH has chosen our iVAULT product to protect their supply chain against counterfeiting and fraud.
This news comes with an open invitation to meet us at the InsurTech Summit in Istanbul and the Blockchain Summit in Vienna.

To stay updated about everything that happens, subscribe to our iVAULT Newsletter, and GET NEWS FIRST.

Subscribe to our YouTube channel for the latest videos as well to access our newest videos.

Golisan trusts iVAULT

 

In an earlier blog entry about our WEF Davos interview with Jessica Walker, we discussed case studies, which interest to all of us.

In this new article we offer more insights with another case study. In an effort to meet the highest safety standards, Golisan GmbH has chosen to begin protecting its supply chain by registering its products on the iVAULT blockchain.

Golisan natural products - certified by Swiss Quality Testing and protected by iVAULT

Golisan natural products – certified by Swiss Quality Testing and protected by iVAULT

Golisan is a Swiss company that makes and distributes plant-based nutritional supplements. Its products – mostly plant extracts – only contain the highest-quality natural ingredients. As Golisan’s website states:

Our brand name Golisan stands for a return to nature and the recollection of the healing powers that so many plants possess. […] The quality of our products is our main concern, which is why we rely on ingredients from organic agriculture, bottle our extracts in Switzerland and are certified by Swiss Quality Testing.

As you can see, the production of Golisan products is already subject to strict controls. So the next step – to contact Vault Security Systems – was obvious. With their products registered in the iVAULT blockchain, the company can ensure that no counterfeit or fraudulent products are sold.

Now, with the support of iVAULT, consumers will feel even safer in the future. Quality is close to Golisan’s heart.

Vault Security COO Prof. Urs E. Gattiker, Ph.D. stated:

We are very pleased to be working with Golisan on a custom-made supply chain solution. With iVAULT’s multi-functional blockchain, we help Golisan improve product safety as well as InfoSec (information security). This is an important step for both Golisan and iVAULT.

Using distributed ledger technology, Golisan’s customers can be certain they receive original Golisan Cinnamon Extract, made with Ceylon cinnamon and nothing else.

Now, about meeting us in person!

 

Members of the Vault Security Systems management team will participate at both the InsurTech Summit in Istanbul and the Blockchain Summit in Vienna at the beginning of April.

We are glad to be there and look forward to meeting very interesting people, as well as connecting with new potential business partners.

CEO Arman Sarhaddar is giving a keynote and will be available to chat with you at the event. He will talk about much more than just Golisan’s natural products – there is still more to discuss when it comes to the iVAULT blockchain (e.g. the protection of luxury goods, medical or financial technology supply chains). Arrange your private appointment by reaching out directly to as@vaultsecurity.io.

Vault Security Systems at InsurTech Summit Istanbul 2019

Vault Security Systems at InsurTech Summit in Istanbul 2019

Chief Marketing Officer (CMO) Lothar Rentschler will be attending the ANON Blockchain Summit 2019 in Vienna.

He will be happy to answer questions from interested investors and partners there. Appointments can be arranged in advance via lr@vaultsecurity.io.

Vault Security Systems at the ANON Blockchain Summit in Vienna 2019

Vault Security Systems at the ANON Blockchain Summit in Vienna 2019

What’s your opinion?

 

In short, iVAULT uses blockchain:

…an electronic database of transactions that is continuously updated and verified.
Blockchain 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.

Join in the discussion and leave a comment. We will respond soon.

  • What other businesses should be using the iVAULT blockchain to protect their supply chain in your opinion?
  • Take iVAULT for a test drive right now… how could you ever be without?
  • What other issues would you like to have discussed in our blog? What information do you still need? Please, tell us in a comment below.

Please share this post on Linkedin, Xing, Instagram and others with this link: https://vaultsecurity.io/?p=871

Getting ready for the boxlive.tv interview. From left to right: Arman Sarhaddar, Urs E. Gattiker, Jessica Walker (#WEFDavos)

iVAULT on bloxlive.tv – Interview at #WEF2019

In short: Vault Security Systems AG’s CEO and Co-Founder Arman Sarhaddar, and COO Urs. E. Gattiker were interviewed by Jessica Walker from bloxlive.tv during our visit to the World Economic Forum in Davos. Jessica Walker puts the pedal to the metal and starts by asking the really important questions that interest everyone the most.

This blog entry is a short update, with the video of the interview, of course.

watch the WEF Davos interview on bloxlive.tv here

To stay updated about everything that happens, subscribe to our iVAULT Newsletter to GET NEWS FIRST.

Subscribe to our YouTube channel for the latest videos as well to get all of our new videos there.

Suddenly in front of the lense

Getting ready for the boxlive.tv interview. From left to right: Arman Sarhaddar, Urs E. Gattiker, Jessica Walker (#WEFDavos)

Getting ready for the boxlive.tv interview. From left to right: Arman Sarhaddar, Urs E. Gattiker, Jessica Walker (#WEFDavos)

Urs E. Gattiker was networking in a room full of blockchain experts for a few minutes after one of the great presentations about cybersecurity and distributed ledger at WEF Davos 2019. Shortly after getting himself introduced to some people, Jessica Walker, together with her technician, was there and had convinced both Urs and Arman to do an interview with her.

Of course, there was no time for preparation, but in this case, it wasn’t necessary. Urs and Arman are both convinced that iVAULT, and its unique application of the blockchain technology will be of great use to everyone in the world.

As you might expect, when Jessica started the interview by getting right to the heart of the matter, both of them had a lot to say. Case studies – and that’s what she dove right into – are probably of great interest to everyone when it comes to a concept like blockchain.

Speaking of case studies

 

…There are so many! Just consider the following:

  • How many companies suffer from counterfeit or fake products within their supply chain?
  • How many businesses have worked really hard in the past, earned a good reputation, and now have so many problems, because their high quality products are cheaply reproduced by other companies all around the world.
  • No single industry is completely free of these issues.

All companies have to tackle the problem of their products being forged by criminal enterprises. In some cases, honest companies do not even know that imitations of their products are being sold.

If products were registered on the iVAULT blockchain, which provides the possibility of proving whether something is original, this would be revealed much sooner. In this way, companies could tackle the problem much earlier, before reputation and financial damage become irreversibly large.

Also interesting: Blockchain? Deployment and value captured

Using blockchain in an entirely new way

 

In the interview, Urs and Arman provide you a closer look at the connotations of the word “blockchain” itself.

The iVAULT blockchain has no relation to things like Bitcoin or other cryptocurrencies. The iVAULT blockchain is about cybersecurity, which is why they like to talk about ‘distributed ledger systems’, helping people understand what this technology can do. The negative connotations that resulted from the earlier use of blockchain technology have nothing to do with the unique way iVAULT helps to solve some of the biggest problems in the world.

But enough said, see for yourself:

watch the WEF Davos interview on bloxlive.tv here

And after watching the video…

What’s your opinion?

 

In short, iVAULT uses blockchain:

…an electronic database of transactions that is continuously updated and verified.
Blockchain 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.

Join in the discussion and leave a comment. We will respond soon.

  • What is your experience using 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? Maybe 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.
Arman Sarhaddar test take for the iVAULT shooting in Zurich, Switzerland

Behind the scenes: 3 video clips for iVAULT

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.

Here is some additional content:

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.

Subscribe to our iVAULT Newsletter to get news FIRST.

Subscribe to our YouTube channel for the latest videos.

Read this blog entry in German here / Lesen sie diesen Beitrag auf Deutsch hier.

Arman Sarhaddar, CEO and founder, engaged in shooting preparations with Urs E. Gattiker

Arman Sarhaddar, CEO and founder, engaged in shooting preparations with Urs E. Gattiker

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.

Why iVAULT?

 

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:

  1. What is iVAULT and how does the blockchain work?
  2. What four business challenges does iVAULT address? Like authenticity and information security, records being encrypted,
    AND
  3. How does iVAULT make sure that no fake product enters a company’s supply chain?

In short:

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.