Vault Security Systems AG grew from a small Blockchain startup in Zurich to one of the Top Blockchain Solution Providers 2020 according to CIO Applications in Silicon Valley.

As a leading Blockchain company on the global market, we want to keep you up to date and provide you with news about our company’s activities, publications and successes as well as news about Blockchain Technology and Supply Chain trends.

Find out the latest developments about our product ivault here.

CIO Applications & Blockchain Lösungen: ivault zählt zu den Top 10 Blockchain Solution Providers 2020

CIO Applications: ivault among the Top Blockchain Solutions 2020

Supply chain transparency and brand protection: Now it’s official. CIO Applications ranks ivault among the top 10 best blockchain solutions of the year.

CIO Applications & Blockchain Lösungen: ivault zählt zu den Top 10 Blockchain Solution Providers 2020

ivault was already referred to as one of the best blockchain ideas at the World Economic Forum WEF 2020 in Davos.

Now, the renowned magazine CIO Applications awarded Vault Security Systems AG with the blockchain solution ivault as one of the Top Blockchain Technology Solution Providers 2020. Our platform offers the highest transparency for supply chains and best product and brand protection to date by preventing the unnoticed entry of counterfeit products into the supply chain.

This blog article provides you with a brief summary. You can read the complete article by CIO Applications here:

Vault Security Systems: Transparency for Supply Chain and Protecting Valuables

ivault: Our patented Blockchain solution 

 

Almost all companies lose value in the market because counterfeit or stolen products become part of their supply chain without their knowledge. The low-quality counterfeit products then arrive at the upset buyers’ as supposed originals.

ivault is an efficient track-and-trace solution that enables the detection of counterfeits in the supply chain. Using distributed ledger technology, ivault makes a completely transparent, traceable and therefore the most secure supply chain possible.

In the interview with CIO Applications, Arman Sarhaddar, CEO and founder of Vault Security Systems, describes how ivault came into being: After he himself had been robbed, he came up with his idea:

“What if I put every physical item into a database with serial numbers? I would then have all the information recorded. With that idea being patented, it lead to the formation of the company.”

Vault Security Systems AG now helps manufacturers of clothing, electronics, pharmaceuticals and more…

 

How does ivault help to overcome the challenges that companies face?

 

The global problem is the loss of billions of dollars in revenue on the part of large companies and, on the other hand, the endangerment of human lives by counterfeit products that do not comply with required security standards and, especially in the case of counterfeit drugs, can have fatal consequences.

That’s why we have developed a blockchain solution that uses distributed ledger technology to secure the supply chain and is easy to use for both companies and consumers.

ivault helps companies to track their products through the entire supply chain from manufacturing to end users by recording and time-stamping all transactions. Once a transaction has been registered, it cannot be changed by anyone, guaranteeing the authenticity of the goods.

Essentially, this minimizes the likelihood of counterfeits entering the supply chain undetected.

Understandably, counterfeiters will avoid companies that have the ivault blockchain solution implemented into their supply chain, because they will not make any profit anymore by infiltrating these companies’ supply chains. It is likely they will seize to sell counterfeits via illegal distribution channels too, because every buyer can easily check via the ivault app on every smartphone, if a product is a fake.

Companies can easily implement this blockchain solution, because the existing databases in their supply chains can continue to be used.

 

Technical characteristics and functionality

 

ivault is accessible via web browsers. The product information is registered either manually or by using a QR code, NFC chip or RFID chip. The information includes material and ingredients used in the product, as well as data on their origin.

From production to the end user, every detail is recorded with a time stamp to bring transparency to the supply chain. If someone wants to access this information, they can quickly scan the product with the ivault app on any smartphone and check all the product details on the website.

This means that the end user can also easily verify the authenticity of a purchased product. In addition, ivault enables end users to protect private property and assets. With the global search engine ivault, anyone can find lost or stolen items in real time.

 

GOLISAN-safran-ivault-verified

We have already announced one of our use cases in the past: Golisan protects its supply chain with a blockchain solution from ivault that is individually tailored to the dietary supplement manufacturer. The valuable saffron extract is one of the most counterfeit-prone spices of all. The higher the value of a product, the more likely it is to be counterfeited. For more technical information, you can read our blog article with a video explanation of the functionality in detail.

 

What’s next for Vault Security Systems AG?

 

We are currently focusing on supply chain protection and there are numerous ways in which we can use our blockchain solution.

For example, in the automotive industry, our blockchain solution will have a huge impact. In the case of Ferraris and Porsches, which cost around $5 to $6 million, buyers want to ensure that every part in the car is an original. Our platform gives them the security they need.

We are also working to extend the reach of our platform to various sectors, including medical device manufacturers and pharmaceutical companies. A medical device company, for example, lost about $100 million a year to counterfeit products. ivault can help quickly identify counterfeit products in the supply chain and thus help rebuild a company’s reputation.

There is an urgent need to bring transparency into the supply chains of pharmaceutical companies, as they have massive problems with counterfeit drugs. We have previously reported on this in detail in connection with the ongoing corona crisis.

Moreover, human lives are at stake here.

In the worst case, a counterfeit medicine can cause more damage than a disease itself. We are therefore aiming to expand our platform within the healthcare industry within the next year. Geographically, we want to bring our blockchain solution into the European Union, the United Kingdom and South America.

Arman Sarhaddar, CEO and founder of Vault Security Systems AG. Park Hyatt, Zurich.

6 good reasons to use blockchain technology

In short: Arman Sarhaddar answered a key question in his presentation at the Park Hyatt Hotel in Zurich: Why does ivault use blockchain technology? There are 6 benefits of the blockchain which you can read more about in this blog entry that comes with another video of the CEO and founder of Vault Security Systems AG.

Blockchain is more than Bitcoin. The distributed-ledger-technology (DLT) raises hopes beyond industry boundaries. The retail, logistics and financial sectors have already gained experience. Innovators try to disrupt traditional business models of the past and gain a competitive advantage in the market of the future.

But our application will go further and make use of the technology’s full potential…

Blockchain Technology 2019: Arman Sarhaddar, CEO and founder of Vault Security Systems AG. Park Hyatt, Zurich.

Blockchain Technology 2019: Arman Sarhaddar, CEO and founder of Vault Security Systems AG. Park Hyatt, Zurich.


Why do we use blockchain technology?

 

And why do we avoid to just rely on basic encrypted servers? There are millions of hacker attacks on encrypted servers per day. This tremendous amount of illegal activities is captured in this live graphic cybermap. By now, every tenth company in Germany is affected by these hackers’ attempts to steal data. Information security simply isn’t provided by standard encrypted servers anymore.

So, in Arman’s words, we don’t do blockchain because there is such a hype building around blockchain, but because it is safe. It provides security for the costumer as well as the company, that can protect its supply chain against counterfeit with the ivault app.

In this video Arman gives 6 more reasons why we should use blockchain in general. Don’t forget to change the settings in the bottom right corner of the YouTube video to turn on English subtitles, if you don’t understand German. You can also read about this 6 blockchain advantages below.

6 advantages of blockchain technology

 

In the video Arman talks about 6 good reasons why we are using blockchain or distributed ledger technology and why it accounts for better data protection. In short, the highest possible cybersecurity is provided by:

  1. The distribution of data among nodes (computers). These nodes are connected to a global network and stand in as the “blocks” of the blockchain.
  2. The blockchain is therefore safe. One of the safest technologies in the world maybe. All entries are individually encrypted and secured.
  3. So, once data have been uploaded and entered in the blockchain, it cannot be changed, tempered with or manipulated anymore. It’s simply not possible.
  4. The anonymity, furthermore, guarantees that the blockchain is protected against external attacks.
  5. And this is the case for any kind of data, because everything is programmable. So any kind of data can be entered in the blockchain.
  6. A time-stamp is giving to every information stored on the blockchain. So it provides us with a really high transparency as well.

This provides the highest level of cybersecurity possible. It is guaranteed by these 6 main features of the blockchain, our future technology. The exclusive event at Park Hyatt was limited to a handful of extraordinary people, we are looking forward to work with. If you want to find out more about the insights given by our management team you can read more in our blog. There, you will also find

Would you like to know more about how ivault.app works or are you missing something in the blog? Leave a comment in the comment section below. We are looking forward to answering your questions.

If you have not yet subscribed to our ivault YouTube channel, you should do so: Click here to go to ivault on YouTube. We will soon be uploading more video content of CEO Arman Sarhaddar. You can also subscribe to our newsletter here.

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Lothar Rentschler: ivault vision & mission

ivault helps businesses secure their supply chain and protect their products from counterfeit and plagiarism. Our vision is to become the world leader in providing the most trusted database, supply chain management, and service platform for registering, locating, and identifying lost or stolen items.

On Thursday, November 7, 2019, the management team of Vault Security Systems AG invited investors, friends and partners to an information event at the Park Hyatt Hotel in Zurich to demonstrate the current status of the ivault product development.

This blog post is part of a 3-part series that will provide an overview of the 3 informative presentations by CEO and founder Arman Sarhaddar, CMO Lothar Rentschler, CTO Martin Beyer and the concluding discussion round. This part deals with the company’s focus on B2C and B2B.

iVAULT Protect what's your's

The ivault vision: Protect what’s yours.


ivault in B2C: lost and found patent

 

At the beginning of this exciting event, Chief Executive Officer Arman Sarhaddar told his own personal story: He himself was robbed a few years ago and not only suffered enormous financial damage. It was mainly personal possessions of great sentimental value – a complete music studio, expensive art objects and Persian carpets that he lost forever.

In an earlier video, the CEO already told about this loss, which inspired him to start Vault Security Systems AG – together with a team that believes in the idea of protecting assets with the Blockchain and passionately (and from the beginning free of charge) supports the revolutionary product ivault.

So, in 2018, in addition to the idea of developing ivault for the B2C sector, a patent application was filed in the USA. The lost and found patent refers to the use of blockchain technology by each individual private user who wants to protect his material possessions and find them again if they are lost or stolen.

Anonymity is an important aspect here: if a user places jewellery, his mobile phone or his sports car in the decentralized database, which is accessible to everyone, via ivault.app he remains anonymous. Neither the neighbor nor ivault can see which valuables the user has registered. Only in the event of a reported loss or theft is this information transferred to the centralized server and can it be viewed publicly in order to retrieve the item in question.

Arman Sarhaddar über die ivault Blockchain im B2C-Bereich, Park Hyatt Zürich

CEO Arman Sarhaddar giving his speech about the ivault Blockchain in the B2C area, Park Hyatt Zurich.

After one year, the lost and found patent also became an international patent. Distributed ledger technology provides the population with a higher level of security for their property than ever before. If you look at some figures, you can see immediately and easily that there is no doubt about the need for this product:

  • Every week, 15,000 laptops are lost at airports – an absolute nightmare for business people, not because of the financial damage, but because of the loss of important data and work that has not yet been backed up. The family father and hobby photographer in this situation is likely to be upset by the loss of his children’s pictures.

 

  • Approximately 5 bicycles are stolen per minute worldwide – that is 2.9 million bicycles per year. In the case of motor vehicles, the figure is as high as 5.5 million, i.e. 13 per minute. If these bicycles are resold by the perpetrators, they can be easily identified and found by the previous registration on ivault. This will drastically reduce the currently extremely high numbers, because ivault makes the criminal business of the perpetrators riskier and much less lucrative.

 

  • In Germany alone, 100 million lost (or stolen) items are reported every year – in the USA the figure is as high as 400 million. You may have a good insurance policy that reimburses you for the current value of your racing bike or motor vehicle if the situation is clear. With stored data such as family photos or important, perhaps confidential business data, the situation is quite different. How much do you think ivault can reduce these dizzying numbers in the next 10-15 years? Leave us a comment below.

ivault in B2B: Blockchain for companies

 

In the past, we have reported many times on the supply chain solution that ivault offers in the B2B sector to protect companies’ value chains and make their products counterfeit-proof.

The B2B area is the foundation for the B2C platform. The business model is therefore two-pronged and includes both the B2C and the B2B platform and offers different functionalities for companies and end users. The problems ivault addresses – the rapidly growing counterfeiting market, loss and theft, financial loss and fatalities, and ruined reputation – affect both individual consumers and large businesses. With the current state of development, ivault has already created 70% of the basis for all further areas of application and use cases.

 

Das ivault Geschäftsmodell: Funktionalität der B2C- und B2B-Plattform im Überblick.

The ivault vision has long been transferred to an applicable business model: overview of the functionality of the B2C und B2B platform.

We have developed a product with a user-friendly interface that allows users to register valuables using the app or a website. The Asset Management Dashboard is based on distributed ledger technology. The standard ivault solution is practical and easy to use for both individual private users and small businesses. The system can be adapted to individual customer requirements. Here ivault offers numerous flexible solutions. 

This concept focuses on customer happiness and customer centricity. After all, it is important to first listen to your users and customers and then offer the relevant solutions. This is what Chief Marketing Officer Lothar Rentschler refers to in his presentation on marketing. Watch a video recording of his presentation here: Change the settings in the bottom right corner of the YouTube video to turn on English subtitles, if you don’t speak German.

If you have not yet subscribed to ivault on YouTube, you should do so: Click here. We will soon be uploading more video content from the event at Park Hyatt – including some exciting answers from Arman Sarhaddar to critical questions from investors and business partners present.

The next blog post will focus on the implementation of the revolutionary idea, which the CTO will demonstrate in detail on the pilot case for the Swiss food supplement manufacturer Golisan. In an earlier blog post we have already given some insights into this first supply chain solution from ivault, which you can read here again.

Have you already subscribed to the ivault newsletter? If not, you can register here. The ivault web application can be found here: ivault.app.