Supply chain management is the process of coordinating the flow of goods and services from suppliers to customers. Because it's a complex process that involves managing many different moving parts, it's not surprising that things often go wrong.
Here are some of the common problems that can occur in supply chains:
- Poor communication between different stakeholders results in errors, delays, mistakes, and confusion
- Supply chain fraud including false documentation about the origin of goods and product standards
- The spread of contaminated food products
- Sale of counterfeit goods
- Outdated technology and the use of paper-based documents that can easily be forged result in poor record-keeping
- Stakeholders are using different databases about products and records can easily be manipulated to suit their own interests
Blockchain has often been very expensive and complex to integrate in supply chain systems. But by integrating our API, companies can leverage all the benefits of blockchain technology without having to build it themselves, which saves a lot of time and money.
Our API is flexible and easy to integrate with other systems. Unlike other blockchain solutions, Dock is able to do this without putting any sensitive and confidential information on the blockchain.
- Enable supply chain companies to issue fraud-proof, high-security product certificates that prove the origin of goods
- Allow credentials to be instantly verified for authenticity, traced, and audited
- Prevent counterfeit products and documents
- Enhance data security with the use of cryptography
- Enable food traceability
- Every product can be assigned a DID and Verifiable Credentials can be added to product DIDs as it moves through the supply chain. The information on the credentials can be instantly verified by relevant parties in the supply chain.
- Every party in the supply chain can have a DID and issue Verifiable Credentials to a product that contain important details such as an organic certification document, the number of units that were shipped from a processor, and information about the farming community.
Once one party in the supply chain does their job, they issue a Verifiable Credential. Then the next intermediaries will follow the same process which is what makes products traceable. If customers want to know where their product came from, they can check by simply scanning a QR code to get the details about the product’s origin because of Verifiable Credentials.
- Creating data transparency across the entire supply chain: Every stakeholder in the supply chain has a DID and is given the authorization to access and add data as Verifiable Credentials about the products being transported. Examples of parties that would have a DID include a farmer, processor, distributor, and retailer. The Verifiable Credential data can be checked by relevant stakeholders and act as a shared source of truth that can’t be tampered with.
- Enhancing food traceability: Every batch of food can be given a DID. If there was contamination, the contaminated food can be traced back to its origin through the blockchain quickly in order to contain the spread rather than discarding the entire product inventory.
Contact us for a free consultation or demo on how you can integrate Verifiable Credentials at [email protected]