Blockchain is already having significant ramifications on the way business is being done. Using a decentralized electronic ledger (a transaction database), with duplicate copies on thousands of computers around the world. None of the participants in the blockchain network can alter any data retroactively, which means everyone can fully trust the data. Additionally, participants can save agreements relating to how they can interact on the blockchain and in so-called smart contracts. These smart contracts are executed autonomously by the blockchain, and cannot be changed unilaterally by any party. As a result, the blockchain enables the efficient cooperation of parties who don’t need to know or trust each other.
Blockchain has been described as;technology that facilitates peer-to-peer transactions without any intermediary such as a bank or governing body”. (Don Tapscott).
Spacecode has developed unrivaled and unique solutions to track and trace items where absolute reliability and robustness are key. We are integrating leading RIFD technology with the blockchain for data storage to ensure 100% item identification and tracking, plus independently verified data. Contact us today for more information.