iVAULT SOLUTION
Applying blockchain technology to the supply chain
By implementing distributed ledger technologies (blockchain) in the supply chain, all transactions conducted can be recorded, timestamped, and traced from the factory floor to the customer, and vice versa. Once a transaction is recorded in a block, it cannot be changed by anyone and thus guarantees the authenticity of a product.
For brands, the blockchain can help reduce the risk of counterfeit and stolen goods entering their supply chain.
For consumers, it becomes far easier to prove product ownership.
As well as protecting them from being duped into purchasing fake products, or worse, ingesting tainted medications that may cause harm or death, if a consumer sells a luxury item to a secondhand store or pawn shop, the change of ownership is recorded in the blockchain. Thus, the buyer is assured they are purchasing an original from a party that has the right to sell it.
- Blockchain architecture
- Anti-counterfeit technology
- Distributed computing
- Data warehousing
- Cloud elasticity
iVAULT‘s target audience is every business or private citizen that needs to protect assets from forgery or theft. This includes any organisation that needs to ensure a secure, recorded, timestamped, and traced supply chain.
