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sustainable blockchain solutions for supply chain

Sustainable Blockchain solutions 2020 – Is there any truth to it?

In short: YES! Sustainable Blockchain solutions are just around the corner. The bad reputation of the Blockchain due to its high energy consumption is not entirely justified. Blockchain can even contribute to environmental protection.

Everyone is talking about sustainability. This raises the question: What about Blockchain, the major future technology pioneers  all around the world put their trust in?

Arman Sarhaddar, CEO of Vault Security Systems AG, answers a few essential questions on the topic in a German interview with Industry of Things, a platform for Blockchain experts and upcoming technological innovations.

We summarized these insights for you in this blog entry to show you why Blockchain doesn’t necessarily mean high energy consumption and low environmental compatibility.

Sustainable blockchain solutions: Is it possible to protect our environment and nature with the distributed ledger technology, that has been described as dramatically energy-inefficient.

Sustainable Blockchain solutions: Sustainable economic models are becoming increasingly important for companies and end consumers. But how is it possible to protect our environment and nature by using a technology that has been used almost exclusively for Bitcoin mining, which is horrifyingly energy-inefficient?

 

1. What is the reason for the Blockchain’s
bad reputation concerning sustainability?

 

ivault’s founder Arman Sarhaddar explains, it is true that Blockchain does not have a good reputation in terms of its environmental performance. This is because, despite growing knowledge, the term is still strongly associated with crypto-currencies such as Bitcoin.

Bitcoin mining activities are indeed energy-intensive: The proof-of-work algorithm (PoW) by which transactions are verified and new coins are generated, involves a very high computational effort. A single transaction now consumes as much energy as 1.5 average American households per day.

This must be viewed critically since there is a lot of mining going on e.g. in China as well. There, the necessary electricity often comes from coal-fired power stations, which is extremely harmful to the climate.

“But Bitcoin is not Blockchain and Blockchain is not Bitcoin!” – Well said, Arman.

 

2. So, what about sustainable Blockchain
applications OUTSIDE of the crypto world?

 

Today we can choose from many different algorithms –many alternatives to the PoW algorithm nowadays, which consume less or even net zero energy. Each option has advantages and disadvantages, which have to be weighed up in terms of application as well as environmental compatibility.

Most companies do in fact use these more sustainable Blockchain algorithms. For a company network or a network between known consortium members, the energy-consuming level of protection as with Bitcoin is simply not needed.

So, most Blockchain or distributed ledger technology (DLT) applications developed for businesses can do without the energy-intensive PoW. This requires networks that are not freely accessible like the Bitcoin network, but need permission (permission-based networks).

Instead of a proof-of-work, for example, a proof-of-stake can be used for verification and consensus building – but you don’t need to understand all the technological details in this case, only acknowledge the fact that this reduces computing power and thus reduces energy consumption drastically.

Yet these sustainable Blockchain solutions can still achieve the desired performance.

 

3. Can Blockchain technology contribute
to environmental protection?

 

There are many business models that directly address social and environmental problems with SDGs (Sustainable Development Goals). Like any technology, Blockchain can be used for different purposes. In general, it can reduce paper consumption enormously by securely and permanently recording continuously retrievable data.

Sustainable blockchain solutions: energy-saving future technology, carbon-neutral supply chain

Due to its ability to record data unalterably, the Blockchain has a particularly great potential for environmental protection. Currently, it is already being used to record data on the natural environment and to record changes in ecosystems.

Among other things, there are sustainable Blockchain applications for sustainable aquaculture and fish farming, that track distribution, make fish traceable and provide evidence of the companies’ ecological responsibility.

Monitoring the supply chain makes it possible to identify inferior products earlier in the process. The extent of recalls and new production can thus be reduced, which has a positive effect on the greenhouse gas balance and other resources.

Another important issue is counterfeit protection. Counterfeit products are often highly polluting and therefore harmful to the environment. It seems ridiculous to mention that the extent of this is hardly scalable, as there are no legal controls on production and distribution standards in this dubious sector of world trade…

 

4. What about the social compatibility of sustainable
Blockchain solutions?

 

Sustainability has not only an ecological dimension. Counterfeit protection and the tracking of supply chains has an ethical component too. Apart from consumer protection, Blockchain can ensure that goods have been produced under responsible conditions.

In the fair trade goods segment, for example, these sustainable Blockchain solutions are gradually being established and guarantee human rights and fair working conditions.

Another aspect is that in some markets up to 70 percent of medicines are counterfeits. An estimated 100,000 people die every year as a result of taking counterfeit medicines. A technology that can prove the authenticity of medical products helps to reduce the risk and potentially minimizes the amount of fatal incidences.

On the other side, Blockchain enables smart contracts that automatically come into force under certain mutually agreed and unchangeable conditions. The “if-then” principle can be used, for example, for automatic payments. Thereby payment delays or misappropriation are not possible anymore.

The entire business world can benefit from more trusting, transparent and direct relationships catalyzed by sustainable Blockchain solutions. This is also in line with the basic idea behind the technology:

In the Genesis block of Bitcoin, inventor Satoshi Nakamoto linked an article that deals with the crash of Lehman Brothers and the start of the financial crisis. A transparent network, in which transactions can be viewed and tracked by everyone, would rule out corruption.

 

5. What needs to be done to enhance eco-balance
and the image of the Blockchain?

 

The most important thing is: The public awareness of the difference between the Blockchain technology and crypto currencies like Bitcoin has to increase.

The fact that Bitcoin has a very high energy consumption that exceeds that of countries like Switzerland, for example, is usually being covered by the media to a greater extent than sustainability in the case of other applications of distributed ledger technology.

We need to put more effort into explaining that there are fundamental differences between Bitcoin and other Blockchain applications, which are now slowly being put into practice.

We are already on the right track – the applications that are working for a better world, such as energy savings or waste avoidance, more than make up for their energy consumption. In the future, this balance will continue to improve.

sustainable blockchain solutions for supply chain

This goes to shows that with Blockchain as our main future technology we are indeed on the right way. In times that provoke as much scepticism and doubt as now, it is at least good to know how fast nature can heal itself, when we hit the brakes of co2-emissions and environmental pollution like we were forced to due to coronavirusWith the Blockchain, environmental protection can be further promoted.

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 in their 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.

Coronavirus: Eine Vielzahl von Tests und Studien zur Umwidmung bereits zugelassener Medikamente werden durchgeführt. Diese könnten bereits gefälscht werden.

Coronavirus prognosis: 5 theses on counterfeit drugs

In our last blog post we provided a detailed forecast on counterfeit drugs in view of the current crisis caused by the outbreak of coronavirus. Here are some additional thoughts, summarized in 5 theses on coronavirus and counterfeit drugs… as well as the blockchain.

With the blockchain, companies can not only protect their supply chain against counterfeit drugs. In addition, everyone could easily check with their smartphone whether a purchased product is original or fake.

With the application of blockchain technology in the pharmaceutical sector, Europe can now seize the opportunity to become a global blockchain pioneer. CEO Arman Sarhaddar’s contribution to the future of a Blockchain Europe has now been published by the renowned blockchain news platform Industry of Things as well.

The recent corona-apps to donate data should also be based on blockchain technology, as this is the only way to ensure optimal data security and protection against hacker attacks.

  1. Thesis 1: Counterfeit drugs of the year 2020
  2. Thesis 2: Counterfeiting market in developing countries
  3. Thesis 3: Drug repurposing: Using the already approved to fight corona
  4. Thesis 4: The lack of cybersecurity 
  5. Thesis 5: Blockchain for supply chains

 

coronavirus Heilmittel coronavirus impfstoff, corona arzneimittelfälschungen, counterfeit drugs

Battling coronavirus… and counterfeit drugs that have not yet been thought of.

 

Thesis 1: Vaccines and drugs to treat corona patients will be the drugs of the year… and so will counterfeit drugs.

 

The examples of Viagra and antibiotics (see below) show that popular and urgently needed drugs are counterfeited particularly frequently, of course. The demand for the remedies against coronavirus is huge and the supply will inevitably lag behind.

For even if all conceivable production facilities are mobilized and pharmaceutical companies work together instead of competing with each other (as is usually the case), production will need one thing above all: time.

While the first million, let alone the first billion, of drugs are produced, at the same time counterfeiters will produce imitations and counterfeit drugs cheaply on a massive scale. These can quickly be sold online through illegal distribution channels.

Moreover, as soon as the first corona drugs leave production, the counterfeiters will be able to infiltrate the supply chains of pharmaceutical manufacturers and sell potentially dangerous counterfeit drugs in the legal distribution chain.

Fake drugs could potentially cause more damage than the coronavirus itself. But it is not only human lives that are at stake. The producers of the coronavirus drugs are only partially rewarded with fame and heroism, because the counterfeit drugs, that made it into the legal distribution chain, will cause massive damage to their image, which will compensate for every good deed.

 

Thesis 2: On the counterfeiting market of developing countries, cheap counterfeit drugs appear as unrivaled “better” offers.

 

The demand for coronavirus cures will come from all countries equally and counterfeiters will proceed exploiting the poor. They are already taking full advantage of the counterfeit market in poor countries:

About 30% of the drugs in Asia or South America and up to 50% in Africa are counterfeit drugs.

Poor countries have many loopholes, such as the complete lack of import controls due to lack of personnel in some cases, through which counterfeit drugs can be distributed without any difficulty.

Counterfeit drugs can easily be offered at a lower price. For poor countries and many of their institutions, these seem to be “better offers” and the originals in comparison are no longer a competition.

coronavirus Heilmittel coronavirus impfstoff, corona arzneimittelfälschungen

Every 2nd or 3rd drug in Africa is a fake! Taking medicine in poor and developing countries seems to be a game of chance. Whoever only catches the despicable fake without any active ingredient can be considered lucky. According to the WHO, 60 % of all counterfeit drugs contain no active ingredients, while about 16 % contain completely different active ingredients. These are mainly counterfeit antibiotics – the most needed medicines.

 

For comparison:

Industrialized nations are safer from counterfeit drugs due to appropriate drug law controls and close cooperation between manufacturers, wholesalers, pharmacies and the authorities. Nevertheless, we do not remain unaffected by large-scale counterfeiting crime: In the United States, around 1.5 million counterfeit birth control pills containing too little active ingredients were seized.

Another example is Sildenafil, better known as Viagra: In 2006, 2.5 million fake Viagra pills were seized in the EU alone. In 2007 there were 3.4 million. [Source]

The “professional” counterfeiters who have successfully infiltrated legal distribution channels in Europe or the USA before will be those to occupy the coronavirus niche of the counterfeit market.

 

Thesis 3: The counterfeiters may already have started to manufacture counterfeit drugs of those pharmaceuticals that are eligible for repurposing.

 

Thanks to global supply bottlenecks, the trade in counterfeit medical equipment is already increasing dramatically.

In addition to the development of new drugs against the coronavirus, a large number of clinical studies are being conducted to repurpose existing drugs like antiviral medicine, that originally has been developed to treat other diseases.

This is because it is more likely that a drug that has already been approved will bring the desired cure first. A completely new drug needs much more time to be available to the general public.

Coronavirus: Eine Vielzahl von Tests und Studien zur Umwidmung bereits zugelassener Medikamente werden durchgeführt. Diese könnten bereits gefälscht werden.

On average, the development of a new drug costs approximately 1 billion euros, because it has to go through a much longer process: from development and clinical studies, through drug law controls and initial approval, to production… which has to begin with the establishment of the production facility. A drug that has already been approved does not have to go through all of the above steps again, a production facility is ready to use and a certain amount of a the drug is already available. [Source]

Currently, fake COVID-19 drugs are no longer an exception on the internet. But mass distribution of counterfeit drugs will begin when people are officially informed that an effective remedy against the coronavirus is available.

And this process of information via media and news has already begun. For example, it has become known that the common Japanese flu drug Avigan has a very good chance of being effective against coronavirus – and Germany has already stocked up on millions of packages.

Of course, this is what the counterfeiters know as well, and they might have already started producing. Counterfeit drugs of these promising drugs can easily brought to the market thanks to the knowledge conveyed by the media and news.

Just think about it for a second: How many people have already searched the Internet for a way to purchase a pack of Avigan? And how much are they willing to pay to get such a promising drug?

 

Thesis 4: The counterfeiters will find it easy to get the necessary information from pharmaceutical companies and their distribution partners because of a lack of cybersecurity.

 

For one thing, the problem is the use of computers at home, from which many home office employees currently access the internal servers of companies. But, given the crisis, those who can stay home should of course stay home.

At this point, companies must ensure that information security and data protection is guaranteed on every PC in every home office.

However, it is not only home computers, but also the trend towards corona apps, which has now arrived in Germany. The Robert Koch Institute (RKI) provides an app to “donate data” and emphasizes that it is a voluntary donation of personal data, which is stored and evaluated pseudonymously using an user ID for each individual.

However, the controversial measure has prompted criticism from data protection experts. Although some degree of privacy is guaranteed, the collected data is stored centrally and is therefore not sufficiently protected against hacker attacks.

A blockchain solution could help by storing the health-related personal data in a decentralized database and thus make the data unhackable.

 

Thesis 5: Europe has a chance to become the leader in the field of blockchain now – by using blockchain to make supply chains counterfeit-proof.

 

Arman Sarhaddar, the inventor of the ivault Blockchain, already reported for Blockchain Insider about the chances of Europe to become a global blockchain pioneer. Now Industry of Things has published his insights as well. We already published a translation of his article for our English readers here: Europe as blockchain pioneer (with ivault leading from the front)

It is the second contribution of our CEO on the renowned platform for blockchain experts. In the first one he reported on counterfeit products in the supply chain:

“Tracking and tracing of ingredients is crucial, especially in the medical sector. […] Customers of medicinal products and pharmaceuticals want to be sure that they have not purchased a counterfeit. For them, the quality of the ingredients plays an essential role and in case of damage, the weak point must be clearly identifiable.”

Europe now has the opportunity to take the role of a global blockchain leader by implementing the most intelligent solution for the supply chain management of pharmaceutical companies: the blockchain.

This technology not only offers the most effective protection against counterfeit drugs entering the supply chain. It also simplifies the detection of counterfeits and the tracing of the weak spot, as it provides the highest possible supply chain transparency for the manufacturer.

But that’s not even all of it: On top of that, every buyer could check the authenticity of a purchased drug by scanning a QR code on the product packaging via an app on his or her smartphone. This way, each individual can tell if a drug could be a fake.

For comparison:

Current methods for increasing protection against counterfeits are intelligent and complex – after all, counterfeiters should not succeed in producing authentic counterfeit drugs – but they are not necessarily practical and neither are they very efficient.

1. One example is the counterfeit protection securPharm

“During the production process, the marketing authorisation holder affixes the safety features to each pharmaceutical package. The data of the unique identifier (serial number, product code, batch number, expiry date) are applied to the pack in clear text and in the form of the Data Matrix Code and uploaded to the centralised database of the pharmaceutical industry. Before the pharmaceutical is dispensed to the patient, the Data Matrix Code is scanned for authentication, thereby reconciling the pack data with the data in the system.”

The one big mistake is that the data is stored centrally and can therefore be easily manipulated by sophisticated hackers. Counterfeit drugs in the legal distribution may not be recognized because the data has been tampered with.

The blockchain, in contrast, stores data in a fundamentally different way: data is distributed among nodes (computers) in a global network. This is the key feature of blockchain technology: It is a decentralized database.

Thus the blockchain creates much more information security. The blockchain is virtually unhackable. All entries are individually encrypted on the computers, changes must be confirmed by all computers in the system, so that data cannot be manipulated anymore.

2. Merck is protecting products with Securalic Reveal:

“Securalic® taggants use hidden markers to authenticate products from the inside out. This smart approach to anti-counterfeiting involves concealing tiny identifiers inside a variety of materials that tell people where the materials really come from. It’s a bit like giving products or even materials like plastics, coatings, or inks their own unique fingerprint. And because all of our taggants are strictly monitored and handled through a restricted supply chain, it is virtually impossible for unwanted parties to even know they’re there.”

The microscopically small particles can be added, for example, to printing inks for product packaging or other materials. But how practical is such a process?

BUT it requires a special detector device to check the product for authenticity. This device must be in the possession of producers, wholesalers, small pharmacies and even the individual buyer to really guarantee product safety – which is neither very realistic nor a practical solution.

On top of that: If a fake turns up how can you trace back where it came from?

With the blockchain, in contrast, it is possible for each individual consumer to check a product’s autheticity on every smartphone. Thus blockchain not only ensures optimum brand protection, but also product and patient safety.

Such a high level of protection against counterfeits can only be provided by the blockchain and nothing else. The blockchain thereby serves as an effective deterrent against counterfeiting crime, because it is easy to trace back where counterfeits have entered the supply chain.

To our knowledge there is no other system that is more practicable and effective. The only hurdle left for Europe to position itself as a blockchain leader: We must act NOW.

 

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 everyone

 

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.

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