One Network Enterprises, the global provider of a multi-party digital network platform, today announced a new, flexible and cross-industry Chain-of-Custody solution built on its Real Time Value Network (RTVN).
By providing serialization and tracking across complex supply chains that involve multiple parties and hand-offs, this latest offering leverages the powerful capabilities of Blockchain to help mitigate threats such as product diversion, counterfeiting, grey market distribution, spoilage, substandard products, and unauthorized introductions.
“The global implications of substandard, falsified, and counterfeit and substandard products are huge,” said Ranjit Notani, CTO of One Network.
“While some of the compromises in traditional Blockchain solutions must make the difficult choice between confidentiality, single-version-of-the-truth, and a lack of scalability, ONE Blockchain is fully integrated into One Network’s global fulfillment backbone offering a completely secure application with fine-grained confidentiality at all levels, while maintaining a single, trusted record for every transaction without requiring any expensive integration into supply chain operations.”
The new Chain-of-Custody solution was developed to deal with the realities of today’s supply chains where end-to-end serialization – from raw materials to consumers and beyond – is not an all or nothing proposition.
Accordingly, the solution is designed to increase the lengths of chain-of-custody segments until the segments merge to form a full end-to-end secure chain.
The Chain-of-Custody solution supports serial tracking, lot tracking, hybrid tracking, lot splitting, tracking through consolidation and deconsolidation, tracking through blending and discrete mixing, hierarchical IoT operations, partial chains-of-custody, and targeted recalls.
Read more at ONE Blockchain Platform to Provide Enhanced Transparency and Security for Supply Chains
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