Votan Employs Tezos Blockchain To Develop Open-Source Supply Chain Management Platform
VChained is a global supply chain management tool that aims to “enable businesses to monitor and trace not just their goods but also their carbon footprints throughout the product’s life cycle.”
Existing supply chains have many obstacles, the most significant of which include tamperable and unverifiable data, a lack of visibility, and the absence of a single source of truth. VChained is the most efficient supply chain management system with Nth layer traceability, aiming to eliminate all of the inefficiencies found by the World Economic Forum in an 18.2 billion dollar sector. It may also assist you in achieving carbon neutrality.
Votan Ventures, a company founded in 2020 that specializes in enterprise-solutions, has assisted more than 20 enterprises in establishing a blockchain product from start or converting their current solutions to Blockchain. VChained has been created to be a market-ready solution for supply chain management in any sector, whether it be Healthcare, Cosmetics, Food & Beverage, Automobiles, or any other.
Votan Ventures receiveds grant financing from Tezos as an early-stage firm after winning the Microsoft Century Program. In an effort to foster customer confidence, VChained harnesses the power of blockchain to offer comprehensive product lifecycle transparency.
By simply scanning a QR code with any application, consumers will now be able to check the validity of the production process and the standards that were followed. Traceability inspires customer confidence and trust, resulting in brand loyalty and expansion.
VChained’s dashboard and software development kit (SDK) are accessible for FREE, allowing you to play with its features on the Tezos testnet. The corporate model, on the other hand, will allow you to run your own private network on the Tezos blockchain, assuring comprehensive data security.
Using VChained’s open-source SDK for supply chain management on Blockchain, you can build your own backend or integrate directly with your existing platform by following the API documentation, making the migration a breeze so that you never have to start from scratch again and are free to use the UI of your choice.
Votan Ventures determined that Hyperledger Fabric-like replicas, which imitate the functionality of public blockchains and are employed by the bulk of the market’s rivals, are ineffective at resolving any practical issue after evaluating all of the blockchains now available.
Instead, Votan Ventures chose Tezos, a hybrid blockchain that supports both public and private networks and employs Liquid Proof Of Stake(LPoS) to validate transactions, connecting supply chain management, planning, and execution.
This implies that transactions are recorded on the distributed ledger and validated by network nodes. Smart contracts enable the automation of business logic, which increases their efficiency. It also includes the ability to launch your own goods as NFTs with the click of a button, making VChained the only solution capable of resolving all supply chain difficulties, hence providing a competitive edge over current solutions.
The CTO of Votan Ventures, Rachit Gaur, went on to say, “VChained has been intended to assist companies better manage their supply chains. Using smart contracts to automate operations and minimize costs, it gives insight throughout the whole process, enabling users to understand what occurs at every point.
In upcoming releases, we plan to launch additional features, such as an NFT marketplace to offset your carbon footprints, thereby assisting you in achieving sustainability goals, and a plug-and-play decentralized marketplace that will allow you to launch your own marketplace and NFTs directly from the application, enabling buyers and sellers to trade with each other.”