Your Perfect Supply Chain on Blockchain. Part 1
Blockchain technology provides huge benefit for open systems. The more players are in the system interacting with each other, and the more freedom the system provides for the scalpers, the greater the benefits of using blockchain technology within the system.
Let’s take manufacturing company operations as an example. First you design the product, define the necessary components and estimate their required amount, then you choose suppliers and purchase the components, organize components delivery from different suppliers to the factory, monitor the quality of production, transport finished products to the warehouse, and then deliver goods to the customer. This is only a part of the to-do list for a company producing tangible goods. When the full cycle from idea to the product sale is established and tested, and a lot of money spent to establish a robust supply chain, someone could steal your idea and processes and start making similar products but cheaper, and also save on advertising by using your brand and selling fake copies under your name. This leads to a new set of challenges related to protection of your brand and your customers from fake.
For the manufacturer of designer clothes #blockdeblock, we at HashEx solved the task of managing the supply chain, as well as protecting their customers from buying fake copies, all that with the help of blockchain technology. We will cover it in detail here and in the next posts.
BrandGuard® anti-fake technology
Our goal was to provide #blockdeblock customers with opportunity to verify authenticity of products during the purchase. When researching the best solution, we were seeking a balance between the complexity of verification process, its cost, and accessibility to an average customer. Guided by the ‘ease of use’ and ‘low cost to the customer’ as our priorities, we designed the concept of BrandGuard® technology:
- Each product that is manufactured on #blockdeblock factories has a unique serial number.
- When placing an order, customer provides a short phrase for each purchased product, which we call BrandGuard Phrase.
- The characteristics of the purchased product (type, design, gender, color, size), together with the serial number and BrandGuard Phrase, are recorded on a public blockchain.
This way with just a couple of clicks any customer can verify two important points:
- Whether this product is officially released, i.e. its serial number is registered along with the product characteristics.
- Whether this product already has an owner (has a registered BrandGuard Phrase).
If products are already registered with BrandGuard Phrase, and somebody is trying to sell them as if they were new, that clearly means a fake.
BrandGuard technology is implemented on Ethereum public blockchain. Anyone can access the application directly from the blockdeblock.eth ENS address, here is a link to etherscan.io. Also, official #blockdeblock website has a dedicated check your #blockdeblock page with a user-friendly web3 interface.
The BrandGuard solution can be used to protect absolutely any tangible objects: premium clothing, watches, medicine. Anything.
In the next post, I’ll cover our approach to solving the problems of supply chain management.
HashEx website: https://hashex.org
Connect with me via LinkedIn https://www.linkedin.com/in/dmitrymishunin/