Trace Labs has announced that the British Standard Institution (BSI) has released a white paper on the use of OriginTrail Decentralized Network.
Trace Labs represent the core developers of the OriginTrail Network. This white paper provides blockchain-based solutions to ensure security on the network.
The release of these solutions is built on the existing partnership between BSI and Trace Labs.
BSI and Trace Labs partnership
BSI partnered with Trace Labs in early 2019, in a bid to provide blockchain-based solutions. To promote integrity in digital records, such solutions seek to promote certification, global assurance, and supply chain services.
The partnership aims at helping clients to follow regulations and standards, manage business risk, and reduce non-conformity costs. The partnership meets clients’ expectations of product claims. It helps them to manage products effectively. Also, clients can get more value out of data that the global supply chains have already generated.
As a necessary means to provide blockchain-based solutions, British Standards Institutions has released the White Paper on how the decentralized network should be managed.
The latest release
This white paper is titled “Instruments of Trust: BSI’s Blockchain-Based Solutions” and it is aimed at building sustenance in the supply chain. This has become a dire need, even in view of the coronavirus outbreak.
The white paper details three applications that would help to secure and manage the verification and authentication process of claimed personal credentials. These methods will help both individuals and organizations to verify their products and company certifications.
Amongst these three applications, BSI has introduced SCAN, a “Trusted Factory Blockchain Program” made to ensure verification and authentication of the company’s credentials and certifications.
One of the solutions introduced in the white paper is the Supplier Compliance Audit Network (SCAN). This program, however, is designed for US importers.
SCAN is a union of importers organized to work towards the elimination of foreign factory audit fatigue. Also, such fatigue is related to the importing criteria of the supply chain security within the US Customs-Trade Partnership Against Terrorism program (CTPAT).
The solution provided by BSI secures permission audit data and factory credentials on the OriginTrail Decentralised Network, as it relates to the public Ethereum blockchain. This grants SCAN and other interested government agencies such as CTPAT to easily access ODN for viewing. View the white paper here.
Previously, in May OriginTrail released its first quarterly report for 2020. The Q1 report covers updates on various areas like finance, business development, human resources, and other activities. However, the major milestone remains the release of v4.1 of the Freedom-Gemini network.