CargoDocs dTrack combines Internet of Things (IoT) and blockchain technology to enable tracking of cargoes and paper trade documentation & secure distribution of the source data from these documents across the supply chain.
The solution functions as a crucial ‘bridge technology’, enabling CargoDocs source data to flow instantly and in advance of physical paper originals & cargoes through the supply chain – allowing for digitization of you trade document processes without dematerialization.
- Co-developed with Swisscom Blockchain AG, the blockchain advisory and development arm of Swiss telecom company Swisscom, and Linxens, leading provider of component-based solutions for the security and identity markets
- First implementation focuses on tracking/visibility of original paper title docs such as B/L
- IoT device used is a tamper-proof NFC chip, attached to paper output from CargoDocs
- dTrack smartphone app scans/reads data & geo-tags across the supply chain
- Data irrefutably stored on blockchain; blockchain-agnostic by design, with support for Hyperledger, Quorum, NEO and NEM, extending to additional frameworks in the future
Document source data combined with real-time, secure physical tracking of paper title docs
- Interactions/information added to a document can be updated to take place on the physical paper doc via dTrack
- Users access source data from the entire document set, with data instantly available in advance of the tracked paperwork
- Tamper-proof chip/sticker device (dLoc NFC)
- Wireless data transfer
- Identification, recording, localization
- Chip hardware prevents fraudulent access to chip
- Auto-invalidation of chip on 3 failed key input attempts
- dTrack app synchronizes and updates information on the blockchain
- QR code acts as a unique document identifier
- Cryptographic keys are generated on the blockchain each time the state or content of the document changes, in real-time
Digitally safeguard paper title docs & securely track across the supply chain, as source data flows seamlessly and in advance of tracked paperwork
- Ability to securely receive and verify source data enables significant trade automation
- All supporting documents can be mechanically signed and securely transferred through CargoDocs, even to non-users
- Provides alternative to end-to-end paperless trade, when physical title documents are still required; i.e. enables digitization without dematerialization
- Minimized fraud / forgery risks typically associated with paper
- Photolog of title document throughout its life and across the supply chain
- Eradicates need to re-type data or need to adopt OCR/AI solutions to extract data from paper
- Increases visibility of paper originals across supply chain
- When combined with a Bank Payment Obligation, offers 80-90% digitalization despite continued use of some paperwork
dTrack is currently being trialled with leading Exporters & Banks in Europe and APAC. The solution will be formally launched in Q1 2019.
The dTrack mobile app is currently available as Android-only and will be rolling out to iOS by end Q1 2019.