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- VChained By Votan Ventures Utilizes Tezos Blockchain To Create The World’s First Open-source Supply Chain Management Solution
VChained By Votan Ventures Utilizes Tezos Blockchain To Create The World’s First Open-source Supply Chain Management Solution
VChained By Votan Ventures
VChained is a supply chain management platform releasing worldwide aiming to:
“Enable companies to track and trace not only their products but also carbon footprints throughout the product life cycle”
Challenges faced by the supply chains as identified by the World Economic Forum
Out of the endless challenges faced by the existing supply chains out there, the major pain points are tamper-prone & unverifiable data, lack of visibility, and no single source of truth.
Aiming to target all the inefficiencies identified by the World Economic Forum in an 18.2 Billion USD industry, VChained is the most efficient supply chain management solution with Nth tier traceability that may also help you towards the goal of carbon neutrality.
Votan Ventures
Votan Ventures established in 2020 has successfully supported over 20+ organizations in building a blockchain product from scratch or migrating their existing solutions to Blockchain, Enterprise-solutions being the forte of Votan Ventures.
Using this experience, VChained has been designed to make it a market fit solution for supply chain management in any industry be it Healthcare, Cosmetics, Food & Beverages, Automobiles, or any other.
As an early stage startup, Votan Ventures received grant funding from Tezos by winning the Microsoft Century Program.
VChained
Aiming to build trust with the consumers, VChained leverages the power of blockchain to enable complete transparency throughout the product life cycle.
Consumers will be able to now verify the authenticity of the process and the standards followed in manufacturing, and standardization by simply scanning a QR code with any application.
Traceability brings in confidence and trust of the consumers which further leads to brand loyalty and growth.
VChained dashboard and SDK are available for FREE, where you can experiment with the functionalities on the Tezos testnet.
Whereas, the enterprise model will let you host your own private network on the Tezos blockchain ensuring overall data protection.
Using VChained’s open-source SDK for supply chain management on Blockchain you can build your own backend or follow the API documentation to integrate directly with your existing platform making the migration a piece of cake so that you never have to build from scratch again and are free to use the UI of your choice.
Tezos Utilization
After careful consideration of all the blockchains available today, Votan Ventures decided not to go for Hyperledger Fabric like replicas which mimic the functionalities of public blockchains and are used by the majority of the competitors in the market making it just another database, inefficient to solve any actual problem.
Instead, Votan Ventures went with Tezos – a hybrid blockchain that allows both public and private networks and uses Liquid Proof Of Stake(LPoS) to verify the transactions bridging the gap between supply chain management, planning, and execution.
This means that transactions are recorded on the blockchain and verified by network nodes. Smart contracts allow business logic to be automated and make them more efficient.
It also adds the flexibility to launch your own products as NFTs with just a click of a button, making VChained the only solution able to solve all the supply chain challenges, hence giving a competitive advantage over the existing solutions.
Rachit Gaur, CTO of Votan Ventures went on to state that:
“VChained has been designed to help businesses manage their supply chains better. It provides visibility into the entire process, allowing them to see what happens at every stage using smart contracts to automate processes and reduce costs.
We are planning to go live with more features in the upcoming releases like an NFT marketplace to offset your carbon footprints, hence helping you achieve sustainability goals, and a plug-and-play decentralized marketplace to let you launch your own marketplace and NFTs directly from the application itself enabling buyers and sellers to trade with each other“.