USE CASE N°05
The root cause of inefficiencies in international trade is the gap in informational flows connected to (1) the physical security, (2) property transfer (legal and physical) and (3) the subsequent record keeping processes. This results in the following inefficiencies:
- Laborious manual work to gain momentary insight into current situation
- Criminal syndicates taking advantage of this gap to either makes changes to cargo or divert containers
- Lack of insight into shipping conditions
- Disputes over who was responsible for breakages or changes to the contents of a container
- Owners of the shipped goods having to take unnecessary steps to identify themselves to authorities
- Lost documentation leading to suspended cargo
In the most simple terms, physical goods and their informational status remain divided between the physical and digital divide. RIDDLE&CODE, the blockchain interface company, breaks through the physical and digital divide to unify the physical status of goods with their informational flow in an indisputable way using blockchain technology. This is done by means of combining the package/container to a RIDDLE&CODE cryptocomputer, which combines the following technology:
- A microcontroller – that can run blockchain algorithms
- A crypto chip
- Active NFC transponder
- Compatibility with multi RF stack: Lora, Zegbee, Sigfox, etc.
- Ability to connect to accelerometers, thermostats and GPS locators
This potent combination means that for the very first time a container’s security data (location, temperature variances, container access, etc.) as well as the property ownership can be recorded on the blockchain. The legitimate owner can then be provided with a physical token connected to the blockchain to securely access the information, trade the contents of the container as well as claim the contents of the container.
Example 1: recording the exact circumstances when a container’s content is opened
- RIDDLE&CODE hardware gets connected vía the I2C socket to a padlock
- Owner of the container holds a token which allows to open the container. The circumstances under which the opening is done is registered into the blockchain (GPS location, time, etc.)
Example 2: tracking the shipment of a package as it moves along the supply chain, passing through multiple carriers
The IoT enabled container transmits required and immutable status information during transport and shipment which is recorded in the blockchain.
RIDDLE&CODE hardware gets connected vía I2C socket to a temperature sensor, enabling it with a unique tamper-proof identity, securing the data and the exchange of data. It deters frauds and brings transparency to the entire supply chain.
If the temperature of the container exceeds 0 degree celsius, then the container must be inspected. The party responsible for the container at that time of the temperature is held accountable for all losses.