Adents, Microsoft collaborate on blockchain fraud detection system
Originally designed for the pharmaceutical industry where fraudulent copies of drugs are common, software developers are aiming at other high-value industries.
Adents, a serialization and track-and-trace solutions provider, has developed a new unit-level product track-and-trace platform using Blockchain and artificial intelligence (AI) technologies.
The new Blockchain solution, Adents NovaTrack, was developed in conjunction with Microsoft and debuted at Viva Tech 2018. The system offers end-to-end traceability and visibility throughout the entire supply chain. Unit level track and trace means single product items within a case can be tracked.
According to the Organization for Economic Co-operation and Development (OECD), an estimated 10 percent of pharmaceutical products sold worldwide and 2.5 percent of global imports are counterfeit. In the food industry, high-value products such as olive oil, vanilla extract and honey are popular targets.
Blockchain technologies provide opportunities to secure entire supply chains, yet comprehensive end-to-end security means more than documenting transactions on a shared ledger. Challenges include an in-depth understanding of cross-standard serialization protocols, the ability to define governance and security policies based on industry standards, enormous data volumes requiring powerful AI and business intelligence solutions, and synching complex businesses to understand the supply chain and adapting IT solutions to meet existing and future stakeholder requirements.
Adents NovaTrack uses Blockchain technologies, AI, IoT and serialization functions to bring visibility throughout product distribution chains and life cycles. The system includes Blockchain as a service, embedded security features, AI via Microsoft Learning and Business Intelligence and communications standards for various industries.
Since its inception, Adents has developed robust platforms allowing unit-level serialization for a variety of industries, and has focused especially on the pharma industry. It is now expanding its pharma expertise to other industries.
“Our alliance with Microsoft to co-develop Adents NovaTrack will offer game-changing Blockchain-based unit identification for various industries around the world,” says Christophe Devins, founder and CEO of Adents. “Our deep roots and successes in serialization and traceability, enhanced by Microsoft Azure Cloud technology, will provide our clients total transparency all along their supply chains and secure product authenticity for end users.”