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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.

iVault verified: Protect products against counterfeit

What are the consequences of piracy and trade in counterfeit products?

Counterfeit products: Here are some more insights from the event at Park Hyatt Hotel in Zurich following the question: Why do we need a product like ivault, that provides an even higher level of cybersecurity than any other technology can provide?

Our B2B product helps businesses secure their supply chain and protect their products from counterfeit and plagiarism. In addition, companies can track and manage their complete product life cycles easily through our application. In his presentation, CEO Arman takes a closer look at the counterfeiting market and the counterfeiters to assess today’s situation.

ivault verified: Protect products against counterfeit

ivault verified: Protect products against counterfeit and piracy.

Counterfeit products: the counterfeiting market is booming

 

Trade in counterfeit and pirated goods is an extremely dynamic and constantly changing phenomenon, as the OECD (Organisation for Economic Co-operation and Development) states. A study was conducted based on half a million seizures of pirated products, that shows: In 2016, 3.3% of world trade falls into the counterfeiting market, and almost 6.8% of EU imports. These figures emphasize once again the need for coordinated global action against piracy and trade in counterfeits.

In his presentation, CTO Martin Beyer explained how companies like Golisan can protect their products with ivault. The ivault blockchain makes it easy to detect counterfeit products that entered the supply chain before major damage may be done to costumers or companies’ reputations. The ivault verified label will thereby serve as an effective deterrent to counterfeiting and fraud (and then, of course, to theft as well, concerning our B2C platform to register and search for lost and stolen items via ivault.app).

So with growing brand awareness of ivault, more and more counterfeiters will avoid messing with companies that have their products labeled as verified by ivault, because – thanks to the benefits of blockchain technology – it can expose their criminal activity pretty quickly. For further information on how ivault works, you can read this article here.

But, returning to the figures mentioned above, how can it be that pirated products and fakes amount to that much of world trade and EU imports? In this video Arman explains not only why the counterfeiters’ market is growing so fast but who they are and what they do. Don’t forget to change the settings in the bottom right corner of the YouTube video to turn on English subtitles:

How can we take action against counterfeiters and prevent at the same time?

 

To summarize what Arman says, the counterfeiters do not pay taxes nor invest in research and development. That is what the big companies do. So, one can easily conclude, how the counterfeiters display more growth than Belgium or Switzerland. As a consequence, this will cause job losses and an increase in government social expenditure.

From producer to end consumer the supply chain usually comprises wholesalers and retailers. But there can be many parallel imports and traders as well as several other distributors in the network. Somewhere in between a counterfeiter can infiltrate this system and channel counterfeit products into the process. In the internet there are more and more sneaky methods used to sell fake products. In both cases, these products usually do not comply with safety standards or limit values for ingredients (of medicine for example) leading to fatal incidences at worst.

But how can we avoid this with the ivault blockchain? The solution is simple: The producer prints a QR code onto the package of his product. Wholesalers, retailers, parallel distributors and traders have to scan this code with the ivault app in order to check if it is the original product. The information, that the product has arrived and has been scanned will be stored in the blockchain. The producer is able to check for example whether the product has been successfully shipped to and scanned by the wholesaler.

Thus the supply chain is completely transparent and data, once registered on the blockchain, cannot be manipulated or tampered with anymore. If suspicion arises, for example when a product is scanned but there is no information about it on the blockchain, you can easily narrow down the search for where the error occurred.

Arman is convinced that ivault will already achieve something outstanding by gaining control of 10% of the counterfeiting market. Would you like to know more about how ivault.app works? 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 can click here to find Vault Security Systems AG on YouTube. We will soon be uploading more video content of CEO Arman Sarhaddar. You can also subscribe to the ivault newsletter here.

PS: To travel to Davos is always worth it for these views of Switzerland alone.

Blockchain: ivault at World Economic Forum WEF 2020

WEF 2020: Once again ivault was represented at the World Economic Form Annual Meeting in Davos. Arman Sarhaddar, CEO and founder of Vault Security Systems AG, CTO Martin Beyer and Project Manager Philipp Röhner visited WEF 2020.

“The atmosphere among the blockchain and IT experts is very positive. Everyone is looking forward with excitement. Many solutions that improve and renew processes and methods are already market-ready or will be very soon. Blockchain experts are also strongly represented at the WEF 2020. The fact that there is more than just talk is demonstrated, for example, by the consortium of partners from all sectors on the governance of digital currencies, which was initiated this year.”
– Philipp Röhner, Project Manager, Vault Security Systems AG

Davos WEF2020: Arman Sarhaddar, CEO und Founder, mit Philipp Röhner, Project Manager, Vault Security Systems AG. Foto: Martin Beyer, CTO.

Davos WEF 2020, from left to right: Arman Sarhaddar, CEO and Founder, with Philipp Röhner, Project Manager, Vault Security Systems AG. Foto: Martin Beyer, CTO.

Insights from WEF 2020, Davos

 

Once again for us the WEF 2020 in Davos was a great chance for networking and getting to know many other blockchain experts among renowned companies and startups. For example, we met Alex Panas, Director of Business Development of LATOKEN, who stated that, in his opinion, our application was the best idea he heard about at WEF and we are on the right track.

“The 50th  anniversary of the WEF was very positive for ivault, since we not only received numerous confirmations that our product fits well in the world we are living, but also excellent connections have been made.”
– Arman Sarhaddar, CEO and Founder, Vault Security Systems AG

After getting to know so many great minds and of course meeting old friends and partners from WEF 2019, we are happy to have planned further meetings in the near future. We will post about it in the blog here.

All in all, blockchain is taking off but is still hampered by a negative image and regulatory issues. The word blockchain is still conjuring up associations with crypto criminality in most peoples’ minds, which is one of the key challenges for pioneers that are using blockchain technology in quite different ways today. Nonetheless, blockchain will change society in the near future.

One of the most important topics at WEF 2020 was environment and climate, next to the introduction of a global digital currency. It also has a major impact on the blockchain scene. There were some presentations of companies that directly address the SDGs (Sustainable Development Goals), social or ecological problems. As a solution provider for the fight against crime and counterfeit products, which are often highly polluting, we are therefore in good company with ivault.

PS: To travel to Davos is always worth it for these views of Switzerland alone.

PS: To travel to Davos is always worth it for these views of Switzerland alone.

More information about ivault

 

ivault provides access to the world’s first database platform and search engine based on blockchain technology to combat and solve counterfeiting and theft crimes on a global scale. There is an international patent for the lost and found concept in the pipeline.

 

1. Lost and found: ivault for every single person

 

In the past only a small part of the population with the appropriate know-how was able afford security for assets, information and property. In the future ivault will make this level of security available to everyone and – even more important – affordable for everyone.

Currently, there is no application to easily report items as lost or stolen in real-time. Therefore, it is difficult to find these items again or to return found items to their rightful owners. With ivault users can now easily register their assets – such as smartphones, watches, laptops, bikes, cars and anything else – in the blockchain via the ivault app. Those who have been robbed can search for them.

The ivault database can be accessed freely at any time and from anywhere. Whoever identifies and reports a lost or stolen item will be given a finder’s reward.

The ivault blockchain protect’s your belongings and provides for data security. Only you can see what information you stored in your personal wallet on the decentralized server. The blockchain is hacker-proof and your data cannot be manipulated anymore. You can always show proof of ownership and on top of that check if a product you bought is an original with the ivault app.

 

2. Counterfeit and fake products: ivault for businesses

 

Up to this date, traditional logistics and data management systems have not been able to prevent counterfeit and stolen goods from entering the supply chain. The resulting consequences are enormous: massive financial losses for companies, a ruined reputation for brands, and perhaps most seriously, fatal incidents for consumers in the medical sector.

By implementing distributed ledger technology (blockchain) in the supply chain management, all actions performed can be recorded, tracked and time-stamped – 100 % supply chain transparency from the beginning of production to the end consumer. Once a transaction has been recorded in the blockchain, it can no longer be changed. Thus the authenticity of a product can be guaranteed.

For brands, the ivault blockchain can help to reduce the risk of counterfeit and/or stolen goods entering the supply chain. For the users it becomes much easier to prove their ownership clearly. Thereby manufacturers offer buyers optimum protection.

Even if a consumer resells luxury goods to a second-hand shop or a private buyer, the change of ownership is recorded in the blockchain. The buyer is thus assured that the seller is the rightful owner of the item and that he is buying an original product.

Would you like to know more about how ivault.app works? Leave a comment in the comment section below. We are looking forward to answering your questions. You can also subscribe to the ivault newsletter here for the latest news.

Martin Beyer CTO Vault Security Systems AG ivault management

Martin Beyer about the ivault app and Golisan

In short: Transparency for supply chain, product safety and cybersecurity with the ivault app: CTO Martin Beyer explains how our blockchain works on the use case Golisan.

This blog entry is the second part of the 3-part blog series on the information event at the Park Hyatt Hotel in Zurich which was held to demonstrate the current status of the ivault product development. In the first article we gave you information about the lost and found patent and how the B2C and B2B platform connected.

This part also serves as the continuation of the article about the Swiss company Golisan, which you can quickly read here.

Martin Beyer CTO Vault Security Systems AG ivault management

Martin Beyer CTO, Vault Security Systems AG, talking about the iVault App.

The ivault App in our use case Golisan

 

Chief Technology Officer Martin Beyer has more than 20 years of experience in leadership of multi-cultural technology and development teams realizing award winning products in the field of mobile apps, color and appearance, virtualization, cloud services and many more. As he says in the video below, he is the one to look after the technological realization and implementation of CEO Arman Sarhaddar’s ideas about the ivault blockchain.

He demonstrated in his presentation how the application ivault.app works. The first custom-made B2C-solution to protect a business’s supply chain against counterfeit products was designed for the Swiss company Golisan. In this video you will be able to be part of the first view minutes of his power point which we had to shorten for privacy and data protection reasons.

Don’t forget to change the settings in the bottom right corner of the YouTube video to turn on English subtitles, if you do not understand German:

As we mentioned in the first blog entry, the B2C platform is largely based on the B2B model. So, what are the advantages of what Martin is telling us here for the individual consumer?

Product safety with the ivault app

 

Product safety and cybersecurity concerns both companies and individual users of products, that is the B2B and B2C sector. In the end, the consumer – in this case: the buyer of the Golisan saffron extract drops – with the ivault app on his smartphone can scan the QR code that was printed on the package. He will be given all the information about the product and most important, as you can see in the screenshots from Martin’s presentation below, the comments:

  • “Product is genuine.” – It is with 100% certainty the trustworthy original. The customer got what he bought.
    or
  • “There is a high risk, that this product is fake.” –  It could be a fake, for example when the QR code of a company’s product using ivault.app is fake and the app says: No information found.
Product safety with ivault.app – Product is genuine. 

Product safety with the ivault app – “Product is genuine.”

This is how any information about any product can be provided, e.g. origin of the components and further instructions on how to apply the product. Thanks to the distributed ledger technology the information once added in the blockchain cannot be changed or tempered with anymore.

And if someone tries to forge a QR code – a vain endeavor since it is not possible – the ivault app cannot find information about the scanned product. That’s how the individual user knows that there is a high risk, that the product is fake.

Product safety with ivault.app: There is a high risk, that this product is fake.

Product safety with the ivault app – “There is a high risk, that this product is fake.”

Would you like to know more about how ivault.app works? Leave a comment in the comment section below. We are looking forward to answering your questions. If you don’t want to miss it, subscribe to the iVault newsletter here.

 

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.

Mit dem privaten und dem öffentlichen Schlüssel Transaktionen sichern.

Arman Sarhaddar about Amazon Transparency and blockchain

In short: Amazon Transparency is far from being the ultimate answer to the global problem of counterfeit products. Arman Sarhaddar, CEO and founder of Vault Security Systems AG, wrote a guest article for Industry of Things about this explosive topic.

Industry of Things is a 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 only in German.

Arman explains, that Amazon Transparency 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.

Arman explains, that Amazon Transparency 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.

Arman explains, that Amazon Transparency 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.

The struggle with counterfeit products

 

A few weeks ago, the e-commerce giant Amazon announced that it was rolling out its the Amazon 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 Amazon Transparency program, the online giant 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 Amazon 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 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.

Amazon Transparency: 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.

What do you think of Amazon Transparency and the potential of the ivault blockchain in this sector? Join in the discussion and leave a comment. We will respond as soon as possible.

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

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CNN Interview iVAULT TV

CNN interview: What is unique about ivault?

In short, we want tell you about our CNN interview, because ivault, our revolutionary product is once again in the spotlight. The well-known journalist Amanda Kayne from CNN interviewed CEO Arman Sarhaddar and COO Urs E. Gattiker.

This is an even greater step for ivault than the amazing speech, CEO Arman were invited to give at the InsurTech Summit 2019 in Istanbul. Watch the full-length interview below. You will certainly gain some new insights about the ivault Blockchain.

CNN Interview iVAULT TV

CNN interview about ivault (from left to right): CNN journalist Amanda Kayne; Arman Sarhaddar, CEO and founder of Vault Security Systems AG; Urs E. Gattiker, COO.

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

CNN interview: 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 Money’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, Amanda Kayne has been known for her insightful reporting and engaging CNN 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.

In the CNN interview, 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 the CNN interview.

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 CNN 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 decentralized 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.

In your opnion, what other businesses should be using the ivault blockchain to protect their supply chain, so you can trust their products? What other issues would you like to see discussed in our blog? Do you still like information about FinTech, MedTech or luxury goods? Join in the discussion and let us know in a comment below. We will respond soon.

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

Interview at WEF 2019: iVault on bloxlive.tv

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.

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.

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.

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.

ivault uses 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 what is your opinion on 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. Join in the discussion and leave a comment. We are looking forward to responding to you soon.

CEO Arman Sarhaddar and COO Urs E. Gattiker with Jessica Walker talking about the iVAULT Blockchain on TV

Blockchain: ivault at World Economic Forum 2019

Why should a startup company like Vault Security Systems AG attend WEF? If you read the general information, you will probably conclude, like we did, that there is no way we can spend that amount of cash on what amounts to a conference:

Membership and partnership fees range from CHF60,000 to CHF600,000 depending on the level of engagement. Most types of membership include the opportunity to participate in the Annual Meeting for the CEO of the company, although Davos participation incurs a fee over and above membership or partnership fees. (see Forum site)

CEO Arman Sarhaddar and COO Urs E. Gattiker with Jessica Walker talking about the iVAULT Blockchain on TV

CEO Arman Sarhaddar and COO Urs E. Gattiker with Jessica Walker talking about the ivault Blockchain on TV.

What it costs to attend WEF

 

The Swiss government also points out in some detail how much the WEF Davos costs. Incidentally, getting a ticket may cost more than CHF27,000 after you have paid your partnership fees. But there is even a badge hierarchy in Davos.

  1. White Badge – gets you everywhere and costs a minimum of CHF27,000, plus the membership and partnership fees your company pays… if you are a young global leader or academic you have a chance to get in for free, but do not hold your breath.
    Of course, Queen Máxima of the Netherlands, Belgium Prime Minister Charles Michel, Norwegian Prime Minister Erna Solberg and Prince William of the United Kingdom get in for free.
    But we’re not bitter about that or anything. Honest.
  2. Dark Blue – means you are a permanent WEF employee,
  3. Light Blue – means you are a temporary WEF employee,
  4. Orange – means you are a media person,
  5. Violet –  technical expert,
  6. Red – you are a driver,
  7. Green – you are part of a government delegation,
  8. Brown – the hotel badge (you are a guest at a hotel, and have paid CHF100 to WEF for a security check, in addition to paying the hotel for your room, of course).

This year part of our team scored an invite and had a chance to visit the World Economic Forum. Of course, there was no way it was a White Badge. After all, that would have cost us more than a start-up like could ever afford, and there’s no way we could expect our investors to cough up that kind of cash. Still, we got to a few events, and it was certainly worth the trouble and time it took.

iVAULT @WEFDavos 2019: The Vault Security Systems AG team enjoying the ride to one of the most beautiful places in Switzerland. Fantastic View!

ivault @ WEFDavos 2019: The Vault Security Systems AG team enjoying the ride to one of the most beautiful places in Switzerland. Fantastic View!

By the way, as in past years, climate change was an issue at this year’s WEF – naturally. Although we did not attend any of those sessions, we did our part by having the team use public transit, including taking the train to and from Davos. In Davos itself, we took the WEF shuttle or walked from one venue to the next.

Was it worth it?

 

We were so excited to be there and have a chat with so many inspiring minds, but only time will tell whether the return on investment is enough. For instance, we were only able to attend one day, but simply didn’t have more time to hang around. Plus, it’s a bit early to come to any definitive conclusions. Nevertheless, it was pretty cool.

For starters, this must be the only place where I can meet Japan’s Prime Minister Shinzo Abe and exchange a few words with him on the way to the restroom, right after he visited with Jair Bolsenaro, Brazil’s president (he also met the Swiss president). In fact, the Swiss government calculated that its president and ministers saved at least 60 days in travel and thousands of air miles thanks to attending Davos. What the Swiss government does not tell you is that at Davos you can informally meet some people, that you might have a hard time meeting through official channels.We know the drill, the agenda is full, the timing is off, etc. In Davos, you ight just bump into someone.

Our bar-side chat with JP Morgan CEO Jamie Dimon was interesting. His advice to us was to take it easy and spend most of our time hanging out with people outside the convention center. Even for him, non-official events are a chance to meet people he might otherwise not come across so easily – like us, for instance 🙂

VSSAG's Danyele Boland with JPMorgan Chase CEO Jamie Dimon, and patent attorney John Moetteli

JPMorgan Chase CEO Jamie Dimon, and patent attorney John Moetteli from Da Vinci Partners LLC.

I had another great encounter with Alison Tarditi, Chief Investment Officer of Australia’s Commonwealth Superannuation Corporation. She needed a chair to sit down in order to change from her winter boots to high heels, and I offered mine at the restaurant. That started a good six-minute (at least) conversation, during which she shared something interesting:

Living Down Under makes the WEF a great place to meet fellow investment officers and pension experts from around the globe.

World Intellectual Property Organization (WIPO) Director General Francis Gurry made a smilar comment. He feels the event gives him a chance to meet national patent experts, and legal minds, but also the opportunity to hear from business people and regulators about their concerns regarding property rights, and of course, patents.

VSSAG's CEO Arman, COO Urs, and WIPO director general Francis Gurry exchanged business cards after having a chat

CEO Arman, COO Urs, and WIPO director general Francis Gurry exchanged business cards after having a chat.

What about blockchain?

 

Of course, hanging out with the famous crowd (see above) is one thing, but the reason we went is to learn more about blockchain developments. We wanted to meet our friends, foes, and some competitors as well as possible investors. Most cybersecurity related get togethers at Davos happened at unofficial events, which have sprouted up everywhere. There is even an app, called Davos X, to help you navigate the unofficial schedule. For instance, the Global Blockchain Business Council (GBBC) hosts a five-day side event. Such events include on-stage interviews, panels, coffee breaks for networking, and so forth. We did not attend GBBC events during our one-day visit to WEF Davos 2019. So many events, so little time…

Naturally, since one main focus of this year’s event was cybersecurity, there were plenty of unofficial events to attend. We even ended up at an event where we met Damir Yandrich, chairman of LedgerState. Funny story: our CEO Arman Sarhaddar was starving when he go to this event, and had a cup of soup (he said it was great). At which point Damir approached us, and informed Arman he was getting a bit of a head start on eating. It turns out that Damir was the initiator and one of the sponsors of this event, and we had some GREAT conversations. He introduced us to plenty of other interesting folks and he was a great host, of course. Thank you Damir!

Shortly after getting myself introduced to some folks I came to be speaking with Jessica Walker from bloxlive.tv. She was trying to set up another interview and also talking to Cecily Mak, a venture partner at ConsenSys blockchain studio. Jessica has plenty of social skills and appears to be a great networker. In no time at all, she had convinced myself and our CEO to agree to being interviewed by her. Proof of this is the cover picture.

It was kind of a Q&A session, including such topics as:

  • Q: What is ivault’s business focus?
    A: Helping companies manage their supply chain better.
  • Q: Which part of my business will benefit first from blockchain technology?
    A: By fighting counterfeit products, your supply chain benefits first.
  • Q: Where does ivault make a difference?
    A: Accelerating transactions and the supply chain by combining database management, encryption and distributed computing.
  • Plus, a few other things…

After one of the panels finished, I had about three minutes to talk to Linda Pawczuk, principal at Deloitte Consulting LLP (time is usually short and you have to try hard to make a good impression 🙂 ). Linda is the leader of the Deloitte US Financial Services Industry Blockchain group. Among other things, she is responsible for Deloitte’s worldwide annual survey about blockchain firms and developments. She gave a really great statement about the state of the industry in her two-minute introduction during the panel she participated on.

Another nice and very human encounter I had was with Charlie Smith (Business Development, reserve.org). He was worried about having to be on stage and his hair not looking perfect, but he did a nice job of entertaining the audience – as much as one can when talking about a technical subject that includes cybersecurity, and cryptocurrency in particular.

It was a pleasure to meet EST CAPITAL AG’s Sindhu Bhaskar, as well. He invited us to the launch event of his new bank on Friday afternoon. Since we could not attend, we will have to meet with Sindhu the week after Davos to explore our ideas further. But our paths might not have crossed so quickly without the WEF.

Attending #WEF19 Davos: Was it worth it?

 

I can gladly give a preliminary YES. During the day it was a bit overwhelming and after 18:00 hours I started to feel sensory overload. I was getting afraid I could no longer remember all the people I had met once back at the office… you know, looking at a business card and drawing a blank?

One person who stuck in my mind was Tom Trowbridge from the Hedera Hashgraph platform. We talked to him in the hallway about the advantages and disadvantages of distributed computing. Most interesting, was hearing from Tom how his platform’s development work had focused on eliminating some weaknesses we experience with public blockchains (e.g., mining, energy consumption, etc.).

I also talked to Houmin Yan, the dean of the college of business at City University of Hong Kong, one of those academics that got a free pass to attend WEF. Talking to him informally was very interesting… but that is for another time. Needless to say, his supply chain insights were revealing to me…

If I am given the chance, I will most definitely go again, maybe Tuesday and Thursday next year… If you cannot stay there (most hotels are fully booked and even if you find one, they are very expensive), I would again use public transit to get to and from Davos.

What’s your opinion about the World Economic Forum? Have you ever attended a WEF event? How do you use such events to network and benefit your business? What tips could you give a start-up to get the most out of such an event? Tell us all about it, we’d love to hear your story! We will respond to your comment in no time.

Oh, and here is another picture with Danilo Panarese (left) and Bibop G. Gresta, Co-Founder and current Chairman of Hyperloop Transportation Technologies (HTT), after we met him a second time and had another cheerful chat.

Danilo Panarese of Vault Security Systems AG (left) with COO Bibop Greta of #HyperloopTT

Danilo Panarese of Vault Security Systems AG (left) with COO Bibop Greta of #HyperloopTT.

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 gave 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 YouTube channel for the latest videos. 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 COO 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 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, realizing them and executing them successfully – something called having a very good track record. 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 realized 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 invest in ivault and protect my money by first checking with ivault before buying the used camera thereby.

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:

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, COO 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 commentary below. I will respond to you see soon.