UBI - An Innovative IT Outsourcing Company

Country

Hongkong

Industry

Healthcare

Technology

Blockchain | Distributed Ledger Technology | Cryptography | ROR | MongoDB

The Client

UBI is a blockchain-based solution designed to combat counterfeiting in the food and drug industry. Utilizing Hyperledger Fabric, UBI ensures the provenance, authenticity, and traceability of products throughout the supply chain, from production to retail. By providing a secure and transparent system, UBI aims to enhance consumer trust, safeguard public health, and mitigate financial losses for businesses affected by counterfeit goods.

The Challenge

Counterfeiting: The food and drug industry is plagued by counterfeit products, leading to significant health risks for consumers and financial losses for businesses.
Lack of transparency: Traditional supply chain systems often lack transparency and are vulnerable to tampering, making it difficult to track and verify the authenticity of products.
Inefficient recall processes: In the event of product recalls, it can be challenging to efficiently identify and remove affected products from the supply chain.
Regulatory compliance: Ensuring compliance with food and drug safety regulations and standards is a complex and time-consuming process.

The Solution

UBI addresses these challenges by leveraging the capabilities of blockchain technology and Hyperledger Fabric to create a secure, transparent, and tamper-proof system for tracking and verifying products in the food and drug industry. Key solutions include:

End-to-end traceability: UBI enables complete visibility and traceability throughout the supply chain, from provenance to retail, allowing stakeholders to verify the authenticity of products.
Tamper-proof records: Utilizing blockchain's inherent immutability, UBI ensures that product information cannot be altered or manipulated, providing a reliable source of truth.
Efficient recall processes: By enabling precise tracking of products, UBI facilitates quick identification and removal of affected items during recalls, minimizing potential health risks and financial losses.
Regulatory compliance: UBI simplifies compliance with food and drug safety regulations and standards by providing a transparent and verifiable record of product history, ensuring that products meet the required quality and safety criteria.

Key Technologies Used

Hyperledger Fabric: UBI is built on the permissioned blockchain framework Hyperledger Fabric, which offers scalability, privacy, and security features tailored for enterprise use cases.
Smart Contracts: Customizable smart contracts automate and enforce supply chain processes, ensuring that product information is consistently and accurately recorded at every stage.
Distributed Ledger Technology (DLT): UBI leverages DLT to create a decentralized and transparent record of transactions, providing all stakeholders with a shared and trustworthy view of the supply chain.
Cryptography: Advanced cryptographic techniques are employed to secure transactions and data, protecting sensitive information, and ensuring privacy.