San Francisco-based blockchain and Internet of Things (IoT) technology company, Chronicled, has announced the development of CryptoSeal, an all-in-one, tamper-evident, and blockchain-registered solution for packaging and physical asset tracking presenting a major step forward in the supply chain provenance.
Announced at the ID Tech Expos in Santa Clara, and developed in collaboration with Cellotape Smart Products, the tamper-proof seal – each containing a Near Field Communication (NFC) chip embedded with unique identity information – allows customers to secure the content of their packages and containers. This ensure that the equipment is not opened, modified, or tampered with.
The data is then immutably registered and verified on a blockchain. At present, they only offer support for Ethereum; however, Chronicled is planning to expand to other blockchains including Bitcoin, Zcash, Hyperledger, and Symbiont.
Maksym Petkus, one of Chronicled software engineers, said on the Chronicled blog that:
We can now put a tiny computer chip with cryptographic identity into a slim adhesive seal strip form factor to secure a package, enabling mathematically and cryptographically closed loop integration with the blockchain and secure high-value assets with this tamper-evident technology.
The CryptoSeal can be affixed to any physical item such as medical equipment, fine art, electronics, cold chain, and forensic evidence tracking. Additionally, individual customers who need to verify and protect items can do so as well. Some of the use cases include securing luggage and artistic creations.
The blockchain is proving an invaluable piece of technology when it comes to verifying items. In the past, the blockchain has been utilized to curb the trade of conflict diamonds, fight slavery in the fishing industry, and improve food waste.
However, according to Chronicled, the most exciting use case of the CryptoSeal is with pharmaceutical tracking. The high monetary value, along with human suffering, linked with fake pharmaceuticals means that new solutions are necessary for tracking the authenticity of medical supplies.
Fake pills are a blight on the pharmaceutical industry. According to Newsweek, Interpol’s pharmaceutical investigation, Operation Pangea, seized 2.4 million fake pills in 2011, and in 2015, that number had jumped to 20.7 million.
Chronicled is aiming to solve this problem through their CryptoSeals, which can be customized to fit and seal shipments of pharmaceuticals. If the antenna in the adhesive seal is broken at any time, it will be impossible to verify the chip inside. This then ensures that patients confidence is maintained when they receive untampered and legitimate pharmaceuticals.
Featured image from Shutterstock.
Last modified: June 10, 2020 10:28 PM UTC