The steps to radical transparency

Tellix is about letting consumers control the social and ecological impact of the money they spend.

It is offered as a service to companies wishing to differentiate themselves by empowering their clients with this ability. We call such companies “the Transparent Companies.”

A Transparent Company uses Tellix to let consumers know the exact origin of some or all of the products it sells to them: by enabling them to follow their money all the way to the producers of these products. But what are the exact steps behind the entire process?

They are 5:

1. Purchase

A consumer buys a trackable product from a Transparent Company and uploads your receipt on tellix.io.

2. Digital transactions

A Telli transaction with a unique ID is immediately initiated. It goes directly from the consumer to the advertised producer of the product he or she bought. The transaction is recorded on an incorruptible ledger and will sit around as a immutable proof of payment intent.

3. Aggregation

While waiting for his/her money to slowly make its way to its intended recipient, his/her transaction is aggregated with others, initiated by other clients of the Transparent Company. With time, this pot of transactions grows in value and in a way, it represents the debt of the company to its supplier.

4. Payment

When the Transparent Company finally pays its supplier, the corresponding bulk payment relates to a group of aggregated Telli transactions which are then all marked as having been ‘Paid’.

5. Confirmation

As soon as the producer confirms receipt of the money, a change in status for the above transactions is initiated: from ‘Paid’ to ‘Confirmed’. The decentralized Tellix technology ensures only him can do so. Thanks to his/her unique transaction ID, the original consumer can see part of this money relates to his/her share. He knows his/her money has reached its destination.

Thank you!

The Tellix team

More information coming soon on https://tellix.io