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.
It also supports fine-grained, state-based distinct confidentiality for owners, possessors, recallers, QA, customs and other parties.
“By facilitating the mass serialization and lot tracking, the new Chain-of-Custody solution helps organizations comply with global mandates such as the recent U.S. Drug Supply Chain Security Act,” said Greg Brady, CEO of One Network.
“Because the offering is a part of our Real Time Value Network, participants can react in near-real-time to various issues in the chain-of-custody while Intelligent Agents can respond to these issues and resolve or recommend solutions as they occur.”
About One Network Enterprises
One Network is bringing the network to connect companies and their entire ecosystem, to serve the customer. Founded in 2002, One Network offers patented solutions to multi-party business, including supply chain management. One Network’s cloud platform, the Real Time Value Network™, eliminates the traditional divide between planning and execution and provides visibility and enables data to flow across the entire value chain of business partners – in real time. Additionally, One Network offers PaaS solutions and developer tools that allow organizations to design, build and run multi-party applications. Leading organizations from around the world from nearly every industry have joined One Network, helping to transform industries from CPG, Healthcare, Automotive, Retail, Logistics and Public Sector and Defense.
Can Blockchain Revolutionize the Supply Chain?
In a new white paper, Ranjit Notani, One Network CTO examines Blockchain’s powerful potential as well as a major problem and whether and how Blockchains can revolutionize the Supply Chain.
Notani explains exactly what Blockchain is and the unique advantages it provides.
He further identifies the major problem facing Blockchain in relation to supply chains, and proposes a solution.
“By combining Blockchain with a non-Blockchain mediator (the Backchain Initiator) to cover the majority of the revolutionary use-cases of single version-of-the-truth mediated shared state, we can realize Blockchain’s full potential in managing complex, multi-party supply networks.”
Download this white paper and learn:
- Why the “shared ledger” view of Blockchain is a misleading and what it really is
- The major problem when it comes to supply chains and the failed attempts to fix it
- How the concepts of “Frontchain” and “Backchain” can provide a solution
- Why “Deep Matrixed Permissions” are necessary for a multi-party supply chain
- How Blockchain can use new technology to radically improve the way supply chains are managed
Download the White Paper: Can Blockchain Revolutionize the Supply Chain?