can provide assurance that all the steps taken in a procedure have been undertaken, approved, and immutably recorded for future reference.
However, when we tie a blockchain to the physical world, more elements are needed to ensure a secure record of transactions is produced. While a ledger provides a record of a series of steps or transactions involving digital data, the generation of data such as ASTM test results, API certifications, or volumes of a product shipped between parties must also be done in a way to ensure the data produced is authentic. As in other supply chain solutions, the key is to design the protocol by which the physical to digital transformation of data is robust to accepting falsified data.
In the development of a finished lubricant, a blockchain could be used to carry the complete audit trail in the various production process. For example, the specifications, batch, and quality control results for base materials and additives can be recorded as they are produced according to accredited suppliers’ quality management systems. The procurement of such accredited materials can be tracked, and their
use in a blended product verified by the production systems in place at blending facilities. The final quality control values of finished goods can be recorded by the approved methods internal to producers or by independent third parties. All information can then be associated with batch, lot, or even individual container identifiers as part of the delivery and distribution process.
With proper physical controls in place, a blockchain can provide a validated audit trail of digital data that would accompany a finished product to verify the authenticity, provenance or properties of the products in the marketplace. When following established protocols for sampling, testing, and distributing physical products, tying a blockchain to a lubricant production process would allow quick verification of compliance. This would replace the disparate information systems, third-party audits and lack of common protocols that make fast and easy validation of materials difficult today.
LINK
www.authentix.com
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