Trade partners who join the network can meet their regulatory requirements and achieve significant additional business benefit.
The industry is being re-invented by a combination of technologies, including sensorization of the supply chain, new machine learning algorithms for making sense of this data, and decentralizing technologies like blockchain and smart contracts that remove overhead and allow more intelligence and security at the edge.
- Track and trace requirements are being driven by global regulatory standards.
- Goods, documents, and money flows in supply chain are disconnected and manual processes.
- The friction between IoT platforms, ERP, and financial record-keeping systems results in a slow digitization of supply chain.
- Untrusted data from IoT devices such as temp, humidity, and vibration loggers cripple ability to automate business process and is not secure enough to support financial flows.
- We are unable to establish the legitimacy of inter-party event logs.
- Traditional tracking solutions are hosted in private databases and not interoperable.
- We suffer from high integration costs due to multi-party data exchange.
- Centralized solutions create vendor lock-in.
- Trade partners in fragmented supply chain ecosystems can passively cooperate on a decentralized, blockchain-backbone without loss of sensitive information.
- Trade partners each have a software client, Android app, or ERP-plug that allows them to register IoT devices, supply chain events, and data into the blockchain ledger.
- Smart Contracts complement business contracts and support multiple parties including shipper, receiver, auditor, insurance, and financing parties.
- Trusted IoT Devices sign environmental conditions, arrival events, and transfer of custody events, and money flows can be automated.
- Leverages hub and spoke data exchange to minimize integration costs.
- Relies on truthful and legitimate data logging by design with a shared system of record on an immutable ledger.
- Easily integrate with existing ERP and SCM systems, packaging line solutions, and hardware scanners.
- Meets regulatory requirements and achieves significant additional business benefit.
Provide trading partners with access to a Blockchain Node thru a Software Client, Android App, or ERP Plug (which is an access point to the Network)
Establish private communication and exchange EPCIS messages amongst trading partners
Offer an API for easy integration with ERP and SCM systems
Can be deployed on-premises behind the company firewall or hosted on a Virtual Private Cloud with VPN connection
- Provide solution providers and trading partners with access to the Network
Secure the network via blockchain consensus
Maintain state of chain of custody of any trading item
Store only hashed values of transactions and states
Verify each transaction via zero-knowledge proofs
- Chain of Custody
- Proof of Arrival or Receipt
- PO, Billing, and Payment Automation
DSCSA and The MediLedger Project
Pharmaceutical companies in Europe and the US are required to serialize, track, and verify their drugs from production through to dispensing, to ensure safety and legitimacy. In the US, they must do so with an interoperable digital method by 2023.
Chronicled has developed a technical pilot leveraging GS1 standards, showing how supply chain events can be registered to a blockchain backend. The pilot emerged after a year of requirements gathering in the pharmaceutical industry, and is solving problems such as data privacy, exception handling, and aggregation. This hub and spoke data exchange minimizes integration costs and integrates easily with existing systems and scanning and packaging infrastructure.
By logging a connected record of key supply chain events in an anonymous way, privacy is achieved while also full-item history and quality control is assured. The result is a safer, more compliant flow of critical, often lifesaving, pharmaceutical products.
Chronicled is in the process of scaling this technology into a full scale commercial platform in 2018.