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UBITECH wins the TagItSmart Open Call for project extensions and additional modules introducing a private blockchain network for smart tags

UBITECH participated and submitted a proposal in the second TagItSmart Open Call for project extensions (new modules) and has been selected to realize TagItLedger (Tag Driven Supply Chain Ledger Service for Enhanced Product Transparency) that will bring in the TagItSmart (TIS) platform a private blockchain as a service functionality that addresses the supply chain global ecosystem’s inhibiting factors, ranging from multi source complexity to transparency, proof of responsibility and organizational borders limitations, due to the inherent design of the specific technology, linked to the specific participants of a supply chain and creating a private blockchain network between them, with the product acting as the blockchain asset.

In particular, the TagItLedger extension, integrated with the main elements of the TIS platform, through the realization of direct links with current TIS services (such as the inventories and access interfaces, streaming and notification services), blockchain functionality can be added as a mean to immutably document the state and status of a product (driven by its scan and respective values) in each supply chain stage, while maintaining a secure, global and consistent point of record for the given product id, including the full history of the product cycle. In this way, a trusted chain can occur, making assignment and acceptance of responsibility for the state of the product an unquestionable feature.