A new solution has been born that allows all stakeholders such as producers, manufacturing companies, trading companies, certification bodies, transport companies, warehouses, retail stores, banks, securities companies, insurance companies, unions, etc. to participate in one platform.
Using distributed ledger technology, CTIA has developed a business solution, “Traceability as a Service,” to solve problems in various industries.
“Traceability as a Service” is a solution that supports optimization of business efficiency according to demand regardless of the size of the organization. Prior to the launch of the service in November, an introductory demonstration of a supply chain was presented at CordaCon 2019 on October 23 and 24, 2019 in London, England.
By introducing “Traceability as a Service”, the solution will bring about an innovative workflow with real-time features which have been difficult to carry out effectively with traditional systems.
In the supply chain, which is one of the areas where this system is expected to be effective, organizations such as participating producers, manufacturers, certification bodies, transportation companies, warehouses, trading companies, retail stores, etc. often plan and manage their own production plans, transportation plans, and inventory plans separately. In addition, as lot numbers complicated with demand increases in the organization of companies involved in manufacturing, the risk of human error also increases. For this reason, in the event of sudden changes in demand or in product specifications, artificial workarounds such as the establishment of a department to supervise are implemented, which forces a heavy burden on the movement of the entire supply chain. At present, many of these problems occur in many organizations.
CTIA develops business solutions that can be introduced by any organization, large or small, to realize a supply chain that supports reliable, high-quality products and is responsive to changes in the supply and demand network due to rapid global environmental changes. This solution will potentially be used in collaboration with town factories and craftsmen in the distribution base of special products that are produced locally and products that are difficult to mass-produce, as well as global product development and market development in new fields.
This service will be provided as a SaaS type called “Traceability as a Service”. For the time being, we will provide support for customer introductions individually, and prices will be estimated individually.
“Traceability as a Service” enables the safe exchange of data while protecting policies for each organization in the supply chain by incorporating a middleware developed and provided by R3 called “Corda Enterprise”. Another reason for using Corda Enterprise is that it is built on the existing on-premises operation.
In addition, with the development of “Traceability as a Service”, CTIA has developed three unique technologies.
The first is the “Token Processor” that generates hierarchical tokens using a graph structure to represent things digitally in order to share information between organizations that support the supply chain. The second is the “Token Register”, which realizes complex Organization within Corda and enables exchange of tokens used in equipment, storage location, products and work processes. The third is the “Transaction RAM Protection”, which uses Intel SGX to protect algorithms in memory and enables high-security data operations.
These technologies will be used to express the movement of products and work processes in the real world. For example, moving the fruit from the basket of Mr. Yamada, who is in charge of this process at Company A, into the basket of Mr. Satoh from Company B who is in charge of the next process.
Switchnovate, a subsidiary of CTIA, will exhibit at the Singapore Fintech Festival 2019, from November 11 to 13, 2019. During the event, CTIA ltd. will hold a company exhibition and a session inviting companies to conduct an introductory test for practical application.
CTIA is a system as well as a consulting company that aspire to solve various management issues of companies and related social problems with the latest technology of distributed ledger technology and blockchain. We will also approach existing systems and areas where technology could not be applied so far, bringing to fruition a “token economy” that allows tokens to be used to verify various transactions and information. We will provide solutions that make the most of the regional characteristics of each base in the world, and globally develop tokenization in various fields.