IOTA Powers System for Enhanced Asset Management and Visibility Across the Supply Chain
(BERLIN, GERMANY — January 8, 2019) The IOTA Foundation, a non-profit foundation focused on distributed ledger technology (DLT) and permissionless ecosystem development, announced today that its open source Tangle technology and Masked Authenticated Messaging (MAM) protocol will support IBCS Poland with a solution to track and trace assets in the supply chain. The IOTA-powered solution aims to support IBCS Group customers in improving their delivery planning and shipment, by ensuring a cross-system interoperable chain of custody to manage assets (e.g. pallets, windows and glasses stands) used to move goods across Central Europe. The IBCS Poland Proof of Concept (PoC) is yet another concrete example of IOTA’s vision for enabling the Global Trade and Supply Chain.
The “ibcsTracker” was built using IOTA’s open source Track and Trace application as a starting point, which is available for companies to use to start building tracking solutions for their markets. A copy of the blueprint is available on Github here. Read more about the solution on the ibcsTracker website.
Returnable Assets + Supply Chain
Most returnable assets in the supply chain are not tracked, or are only tracked manually, a process which creates inefficiencies and economic loss due to low return rates, delays and high costs associated with tracing these items. As a result, a large amount of assets are not circulated back to owners, and instead are either given to competitors or are inefficiently recycled or disposed. To remedy these problems, the IOTA-powered solution will provide a unique digital identity for each asset, including position and identity of the organization currently having custody of it, all of which can be viewed and managed through a simple mobile application.
As a result, companies are able to achieve an accurate overview of assets available for shipment at a...