Blockchain Solutions & Development by Sfinitor
Sfinitor delivers comprehensive blockchain development services, crafting robust solutions ensuring seamless transaction and event traceability across the entire lifecycle.
Consulting on blockchain for authenticity and supply chain transparency
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- Examining business demands to specify blockchain specifications, focusing on provenance and traceability
- Recommending ideal blockchain network types, architectures, and technology stacks for specific use cases
- Offers comprehensive blockchain traceability and provenance solutions
- Formulating integration strategies for essential software applications like ERPs, accounting systems, and marketplaces
- Consulting in Blockchain Security
- Offers comprehensive blueprint for blockchain deployment and risk reduction strategies
Blockchain offers robust solutions for provenance and traceability enhancement
Awaiting collapsible script rebuild.
- Analyze blockchain applications for traceability and authenticity
- Blockchain software conceptualization
- Blockchain architecture streamlines provenance and traceability
- Developing blockchain solutions for provenance and traceability
- Streamlining Blockchain Adoption within Established Software Infrastructure
- Quality Testing & Assurance Ensured
- User training
- Blockchain software maintenance and enhancement as necessary for growth
Blockchain Provenance & Traceability Challenges
Data Quality Challenge: Ensure Premium Inputs.
In a blockchain, confirmed data acquires an unalterable status. Persistent storage of subpar input data may lead to misidentification of product origins or erroneous resolution of product quality/ownership disputes.
Solution
AI-powered blockchain ensures data integrity by intelligently reconciling data for precision and detecting potential fraud. It identifies dubious transactions, preventing their integration within the system, thereby maintaining a secure and transparent network.
Data Upload Task: Uninterrupted Supply Chain Updates
To ensure an unbroken record of product origin, location, and environmental conditions throughout its lifecycle, a blockchain-based system must relentlessly gather all pertinent supply chain data. This comprehensive history is crucial for real-time tracking. The solution should effortlessly link with various software systems used by multiple network participants, including legacy tools, to ensure seamless integration.
Solution
Blockchain solutions facilitated by well-structured APIs foster rapid and seamless connectivity to numerous data sources, such as back-office systems or sensors (for instance, monitoring temperature-sensitive food products or pharmaceuticals). Nonetheless, these APIs have restricted compatibility when blockchain interacts with legacy software. In such scenarios, custom integrations might be necessary for the blockchain solution.
Sample architecture
In a blockchain-based system for authenticity and tracking, validated and ciphered data and transactions are sequentially stored in time-stamped blocks, creating an unalterable, distributed database collectively maintained by authorized parties. This shared ledger functions as the authoritative reference to authenticate asset origin and inventory status. Network participants engage with this decentralized system to execute transactions and monitor data via role-specific web interfaces.
Blockchain-Based Provenance & Traceability Explained
Blockchain traceability emerges as a preferred method for verifying asset origins and authenticity within supply chains. By facilitating swift verification of product lineage, it expedites claims settlement, minimizes fraud detection errors, and efficiently combats counterfeit goods. Blockchain technology ensures comprehensive transparency over asset-associated data and transactions. It allows swift tracing of product origins within seconds instead of days, providing an added layer of security for confidential business details. Projected at $17.57 billion, the worldwide blockchain market is projected to surge to $825.93 billion, growing annually at a Compound Annual Growth Rate (CAGR) of 52.8%. This expansion is primarily fueled by the escalating requirement for efficient tracking of inventory and asset origins, as well as end-to-end traceability of goods-related transactions across multiple industries, such as food manufacturing, fashion retail, healthcare, and real estate. Specialized blockchain solutions are increasingly recognized for their potential to enhance transparency and streamline operations in these sectors.
Optimizing supply chain & logistics for efficiency
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Ensuring end-to-end traceability of multilayer supply chain operations, including obligations, product shipments, and payment transactions across various tiers. Verifying the authenticity and source of supplies, particularly crucial for inventory items such as pharmaceuticals, foodstuffs, and electronic components.
Asset management
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Immutable record-keeping in multiple sectors, encompassing real estate, entertainment, luxury goods, and additive manufacturing, verifies authenticity of assets, safeguarding against forgery and counterfeiting.
Legal Document Administration
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An unalterable record tracking modifications on legally binding documents, encompassing creation, amendment, access, and distribution, verifying ownership authenticity.
Claim management
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Establishing verifiable product origin and recording multi-party transaction histories fosters transparency in resolving disputes over product quality or authenticity.
Traceability of multi-party transactions
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In a blockchain network, distributed ledgers offer an unalterable, synchronized log of all transactions among participating parties, delivering real-time transaction visibility.
Smart contracts
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Automated contract enforcement protocols facilitate the autonomous fulfillment of predetermined obligations within multiparty agreements, such as making payments, transferring responsibilities, or ownership changes triggered by specified events.
Automated recordkeeping
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In the blockchain network, all participant interactions – smart contract-triggered or otherwise – undergo instant validation, time-stamping, and recording within the shared, decentralized database.
Product Origin Tracing System
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Blockchain technology enables real-time tracking of a product's journey from its origins to delivery, passing through various stages such as processing and quality checks at diverse locations. Multiple parties involved can monitor this data at any given stage.
Consensus Data Verification
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Transaction validation and processing sequencing are governed by pre-determined consensus mechanisms such as Proof-of-Stake in public blockchains, or Selective Endorsement for private or consortium networks.
Hashing
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In the decentralized blockchain system, every datum triggers an automatic generation of a unique cryptographic identifier - the hash value. Any alteration in the data results in a subsequent modification of all output hash values, rendering the blockchain tamper-evident.
Security
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Securing blockchain data employs methods such as multi-factor authentication, role-specific access controls, advanced fraud recognition systems, and encrypted transfer of data.
Customizable Access Permissions
Awaiting collapsible script rebuild.
Private/Consortium blockchains grant adaptable transaction, data viewing, and sharing privileges for select participants.
Why Businesses Choose Sfinitor
Google Partner since 2010.
A quality-first approach based on a mature ISO 9001 quality management system.
Agile approach to achieve efficient results in projects with vague scope.
Recognized for reliability, trustworthiness, and excellence in delivering value.
Expertise in engineering, cloud migration, AWS environment.
Expertise in delivering strategic solutions across the Microsoft Cloud.
Success Stories
Explore how we've helped clients build impactful mobile apps tailored to their industry needs and business goals. Use the filters to browse our case studies by industry or region to find the most relevant projects.
P2P Lending App with Smart Borrower-Lender Matching and Crowdlending Capabilities
A FinTech startup focused on democratizing access to credit and investment opportunities. The platform was designed to connect individual borrowers and micro-investors, allowing flexible loan funding, reduced bank dependency, and enhanced financial inclusion in underserved markets.
Read more
Full-Stack E-Commerce Platform for Product Sales, Vendor Portals & Order Fulfillment
A regional retail business expanding into online sales with a hybrid model: operating its own branded storefront and hosting multiple vendors through a shared marketplace. The company sells directly to end consumers but also facilitates sales and logistics for third-party sellers across various product categories.
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Loyalty Mobile App with Omnichannel Experience for Spa & Resort Guests
A luxury spa resort chain that offers wellness, spa, and accommodation services and was looking to strengthen relationships with its customers and encourage repeat visits.
Read moreBlockchain Cost Analysis for Provenance & Traceability Solutions
The cost of blockchain development varies greatly depending on:
- Type of blockchain network (Private, Public, Consortium, Hybrid)
- Consensus mechanisms: Proof-of-Work (PoW), Proof-of-Stake (PoS), Selective Endorsement
- Solution complexity and modularity, encompassing smart contracts in count and intricacy
- Blockchain solution interacts seamlessly with diverse application types, catering to distinct user segments such as suppliers, end consumers, and Logistics Service Providers
- Volume required for data migration from spreadsheets or current SCM software
- Software integrations, specifically ERP, accounting systems, and selling platforms, often involve a substantial amount and intricacy
- Application demands: availability, performance, and security standards must be met.
- Enhances cross-blockchain functionality
- Development timeline for PoC, MVP, or full-scale blockchain solutions is contingent on project scope
Based on Sfinitor's findings, the estimated development cost for a minimum viable product (MVP) of blockchain-based provenance and traceability software ranges from $80,000 to $150,000. Constructing a comprehensive blockchain solution incorporating a private network and smart contracts necessitates an investment of approximately $400,000 to over $1.5 million.
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