Supply Chains involve complex inter-relationships between multiple parties moving a product along the path from production to market. Depending on the industry, various transactions and data points need to be logged securely and readily available for review and inspection at any point in time.
For example, the supply chain between cannabis growers, distributors, and customers operates in an environment in which various jurisdictions apply different legal status to the activities and interactions taking place between these entities. Because of this complexity, it is vitally important to track activity within this supply chain from “seed to sale” at a very detailed level, and in an immutable, or permanent fashion. Discrepancies between entities can have significant adverse consequences, including criminal charges.
To eliminate discrepancies, companies use ULedger as an immutable blockchain framework for the permanent logging of supply chain activities and transactions.
Not only does a blockchain solution like ULedger handle large-scale storage of data transactions as they occur, it also satisfies real-time reporting requirements needed for compliance purposes. And, unlike other data logging solutions, which are text-based and easily hacked, no deletion of log file information can ever take place, and no “covering of tracks” can occur.
Companies that manage complex supply chains love ULedger because it’s easy to integrate without changing their existing IT infrastructure, via open standards API.
- ULedger reduces transaction, compliance and cyber costs
- ULedger integrates seamlessly with existing technology infrastructure.
- ULedger keeps your data private.
- ULedger is infinitely scalable.
- ULedger can handle immense data volumes (transactions per second).
- ULedger records the order of events (transactions) rather than just the time of events.