blockchain

Blockchain technology is uniquely positioned to help create trust, transparency, and accountability between many parties in supply chain scenarios.

more precisely

Blockchain is a secure ledger, shared and distributed among a network of computers, rather than resting with a single provider. It can act as a shared data layer to enable multiple parties to track the status of an asset as it moves across a custodial chain and share information on its provenance and handling in a secure and transparent way.

Blockchain technology offers tremendous potential in supply chain scenarios. When used in combination with sensor technologies such as IoT, blockchain promises network participants unprecedented visibility into even the most complex supply chains.

Blockchain also enables parties to set up pre-arranged “smart contracts” that can be used to automatically trigger compensation or fines based on compliance with agreed-upon rules for the farming, manufacturing, and transportation of goods.

benefits

greater transparency

Enhanced Security

Improved Traceability

Increased efficiency and speed

Reduced Costs

our blockchain platform

Adents NovaTrack uses a data protocol built on the Ethereum blockchain. It employs a decentralized platform to store and share serialization data, associating that data with decentralized identities on the blockchain (which can belong to individual users, connected devices and other entities represented by such identities), achieving two objectives: protecting privacy and allowing data to flow freely.

Adents NovaTrack includes the native use of Smart Contract.

 

Smart contract is exactly the same as a physical contract, but the terms are converted into code and then uploaded onto the Blockchain, which allows it to have more efficient and fluid functionality.

 

 

three types of blockchain
public, private, and consortium

In the case of Adents NovaTrack solution, the Consortium topology blockchain will be used to comply with industry and businesses requirements.
It will support multiple consensus algorithm more adapted to business constraints than the Proof of Work one.
  • Many, unknown participants
  • Written by all participants
  • Read by all participants
  • Consensus by Proof of Work
  • Known participants from one org
  • Written permissions centralized
  • Read may be public or restricted
  • Multiple algorithms for Consensus
  • Known participants from multiple orgs
  • Requires written consensus of participants
  • Reads may be public or restricted
  • Multiple algorithms for Consensus

smart contracts basically enforce themselves
because they live on the blockchain

They can react to events and messages, include complex multiparty actions and transfer assets between parties. A Smart Contract is a program running on the Blockchain that will continue running until it expires. This contract will leave a complete historical ledger of all of its interactions along with the identities of those interacting with it resulting in complete transparency for auditing purposes. Blockchain allows people to codify, secure, and trade just about anything in a decentralized manner reducing the need for a middleman.

 

Smart contracts have the potential to be self-enforcing, trustworthy, transparent, faster and cheaper than physical contracts.

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