Blockchain supply chain traceability system
Project objective
The objective is to develop a solution to optimize the results for companies in the supply chain processes, betting on developing and deepening aspects of blockchain technology that reduce barriers in the implementation of the technology, and putting into action, jointly, other technologies with the aim of optimizing the costs and results of these processes.
Geographic scope
Initially Europe and LATAM
Duration
Sep-2023 to Jun-2025
Investment
528.775 €
EU Help
216.688 €
The Challenge
Today, there are no solutions that provide a joint vision of the problems of the various ecosystem players in the supply chain processes and that provide a technological solution to all of them:
- Different blockchain networks must interact in the ecosystem; it does not make sense that all participants are obliged to have a node in a different blockchain network for each use case they want to implement. The solution must respond to information exchange between networks.
- In addition, any participant in the process (person, system, device) must be given his or her distributed digital identity and a simple technological solution must be sought that simplifies the connection of wallets between networks, both public and private.
- Many of the players in the ecosystem cannot invest in technology, much less in blockchain technology. A complete solution must provide an answer to this problem, and ensure with simple solutions the integrity of information from start to finish.
- Many of the supply chain processes have a key element, for process optimization, in real time processing. Blockchain is a technology that goes against this aspect, the new solution must analyze how to solve this problem with the combination of different technologies always safeguarding the concepts of information integrity, security and immutability.
- Supply chain participants are highly dependent on each other. Distributed information offers opportunities for access to data not accessible today.
Expected results
What is expected is to obtain a commercial product that meets a series of key characteristics that are verifiable at the end-user level and clearly differentiable from the rest of the existing solutions:
- A solution compatible and interoperable with other public and/or private blockchain networks existing in the market in an efficient way. At the end-user level, the fact that the service provided is based on the transfer of information between different blockchain networks with different base technologies and in both public and private environments must be transparent to the user in terms of both performance and reliability.
- Users will experience no problems in managing their digital identity, a process that will again be 100% transparent to the network structure supporting the service and its associated technologies.
- The solution will allow the enrichment with "peripheral" technologies that can be easily integrated into the whole, which will allow a greater and better integration of users participating in the solution, maintaining the principles of security, traceability and immutability, but ensuring the use of complete data throughout the supply chain, whatever it may be.
- The solution will also make it possible to easily integrate information analysis structures that will provide it with a powerful tool for optimizing the processes supported by the system. Concepts such as data mapping or the use of automatic ETLs will be guaranteed.
- Finally, the solution will allow users to perceive an adequate response time that is clearly superior to what we are currently accustomed to with "conventional" blockchain networks. We will add to the advantages of blockchain networks a differential speed of response and management.
