Using blockchain to ensure product authenticity

01 September 2020 in Asset management , Blockchain

Industrial companies in Europe feel the competition of companies like Amazon and AliExpress. This intense competition drives them to look for new business models. One such business model is the ability to identify assets uniquely. Why? Because the ability to identify assets can add value to services like remote monitoring, certificates inspection, and an asset’s status. Not clear yet? It’s time to see why and how Project ERIKS is tackling this problem.

Ensure product authenticity

When businesses or consumers buy a physical product or an asset, they have no way of knowing whether it is authentic or where it came from. The label could be incorrect, or worse, the product itself could be a fake. When purchasing anything, we have to accept and trust that the supplier is an honest participant. However, we also have to accept that their suppliers are honest participants. The problem lies in the lack of transparency in asset management within supply chains. As you can understand, one bad apple in the supply chain can quickly spoil the bunch. There needed to be a way to verify the identity of products. 

About Eriks

ERIKS is an acknowledged specialist supplier of technical solutions, services, and products in many industry sectors. Within a comprehensive sphere of operations, there is particular emphasis on the chemical, petrochemical, pharmaceutical, food, and brewery markets.

ERIKS has developed many support and solution-based services in addition to the standard product lines, which include:

  • hose management (incorporating on-site testing, hose inspection, and hose registry establishment and maintenance)
  • hose refit
  • design of bespoke hose assemblies for individual installations
  • and, of course, technical support and advice.

How is it applied in the real world?

By creating a unique digital identity for each product or asset and a tamper-proof method of storing that identity, all parties can keep track of these assets and check their authenticity. Project Eriks’ solution is based on the TTAg technology to provide consumers with full transparency into the supplier, origin, production process, distribution process, and authenticity of a particular product. We can now create digital identities for all assets, making asset management much more manageable, more efficient, and impossible to subvert via counterfeiting.

The availability of the right parts, tools, or assembled components is crucial for the production process. Using the ERIKS Hose Management System will show you how to make components smarter and ensure that the correct, tested, and certified parts are used during maintenance work. Together with ERIKS, Ledger Leopard developed an app to manage the hoses’ identification and inspection.

We are creating a way to see what needs to be seen and not more. This way, you can promise what you show and show what you promised. 

Want to learn more about how we can help your business innovate successfully? Make sure to contact us by clicking this button here:

Written by Jeroen van Megchcelen & Ivan Esseboom

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