Supply chains can be complicated.
Imagine for a moment that a manufacturer uses the wrong design specs, a supplier mixes up two different orders or a raw material causes a bad batch of products that need to be recalled. On top of that, billions of dollars in cash flow are now tied up while the problem is being rectified plus the 60-day payment terms.
The effects of poorly managed supply chains continue to trouble businesses today. On May 10th of 2016, hoverboards were exploding all over the world. A number of incidents of the boards catching fire led to major retailers such as Amazon and Target issuing refunds and telling customers to trash them. Airlines were banning them and some cities were even banning hoverboards from roads and sidewalks. It is was later found that the batteries in the boards were defective and causing the fires.
VeriDoc Global has developed a supply chain solution that leverages blockchain technology and smart contracts. Our system verifies that each step in the supply chain has registered a “digital handshake” that marks exactly when and where the goods have changed hands. This makes it clear who is liable for products every step of the way.
Blockchain can increase the efficiency and transparency of supply chains and positively impact everything from warehousing, delivery, and payment.
The vital things that are necessary for reliability and integrity in a supply chain, are provided by the blockchain. Blockchain provides consensus on the data, there is no dispute in the chain regarding transactions because all entities on the chain have the same version of the ledger. Everyone on the blockchain can see the chain of ownership for an asset on the blockchain. Records on the blockchain cannot be erased which is important for a transparent supply chain.
You're able to test it out and scan the QR codes yourself on your smartphone to see the technology working for yourself.
Don’t have a QR code reader to find out? Download the VeriDoc Global QR code reader here for free:
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Data is immutable on blockchain and can’t be breached via an attack on a single server or database.
Hospitals, Clinics, Doctors and healthcare professionals can save time and costs with supply chain and inventory advancements that blockchain can provide.
Increases the speed in which problems can be identified and products can be recalled.
VeriDoc Global has developed a solution that involves embedding a QR code on an item with a unique digital hash inside the QR code. The hash holds a string of information that is then placed on the blockchain network for security, verification and most important end user validation. Using a QR code reading app, customers can scan the QR code on the item once it has been delivered to them to verify the authenticity of items.
Throughout the shipping process, the QR code can be updated with information verifying when and where the product has changed hands. Using any QR code reading app, scan the QR code on the pharmaceuticals and the app will show you the true document produced by the issuer. This allows you to compare and see if the pharmaceuticals is an original or a fake.
Manufacturer creates an item.
VeriDoc Global generates a QR code that contains a unique hash value with information about the item.
VeriDoc Global generates a PDF from the new document and stores this on the client’s secured server.
The information is placed on the blockchain.
VeriDoc Global populates a database with the unique hash value, blockchain transaction (to preview the original International Health Care Card).
Manufacturer creates an item.
VeriDoc Global generates a QR code that contains a unique hash value with information about the item.
VeriDoc Global generates a PDF from the new document and stores this on the client’s secured server.
The information is placed on the blockchain.
VeriDoc Global populates a database with the unique hash value, blockchain transaction (to preview the original International Health Care Card).
Item is scanned using any QR code reader.
User is redirected to a secure VeriDoc Global webpage that displays the unique hash value, original International Health Care Card.
User validates the authenticity of the International Health Care Card by visual inspection.
User may validate the unique hash value on the blockchain and verify that the hash values are identical.
The QR code can be updated with additional information showing that a person has less points available on their driver’s licence due to speeding offences (optional).
Item is scanned using any QR code reader.
User is redirected to a secure VeriDoc Global webpage that displays the unique hash value, original International Health Care Card.
User validates the authenticity of the International Health Care Card by visual inspection.
User may validate the unique hash value on the blockchain and verify that the hash values are identical.
The QR code can be updated with additional information showing that a person has less points available on their driver’s licence due to speeding offences (optional).
