PREVENTING SUPPLY CHAIN FRAUD
Olam use case #25 out of 953
Asset mismanagement, counterfeiting, theft of goods… these are all common types of fraud that impact supply chains and which negatively impact the bottom line of any manufacturer or shipper who has been a victim of it. Usually they occur during a transaction stage in the chain and have been until now incredibly simple. Often committed by taking documents from one pallet and pinning them to another re-routing a package by stamping new label on it etc.
How can a consumer be assured they are not waiting for a box of rocks while someone else enjoys their gadget instead?
In recent years there has been a move to rely on digital identities for tracing pallets and parcels, making it more difficult to replace a package without being detected. With the Olam platform, the pallet identity may be confirmed by a tiny IoT device hidden inside the pallet. Photos of the parcels could also be on the Blockchain, which would allow for immediate detection of package replacement: When a sensor detects that it has been removed from a truck or a warehouse without the appropriate signature on the smart contract, an alert can be sent to stop the theft as it occurs.
Olam Foundation is launching the only truly neutral, open-source logistics IT platform, supporting both legacy paperwork and future smart-contract-based transactions as part of its global logistics ecosystem.
To learn more about the Olam Foundation, its vision, and it’s token generation event, join us on Telegram or reddit! The project’s whitepaper and proof of concept (in real-time) can be accessed via the website http://olam-platform.org.
