Blockchain technology may be best known for underpinning digital currencies such as Bitcoin. However, blockchain is being applied in new applications from insurance to land registry to supply chain tracking. Blockchain is unique in that it removes the need for a central information clearing house, reducing paperwork and time.

 

Blockchain provides a new level of security, but a critical link is missing. While blockchain assures the validity of documentation associated with the exchange of goods, it does not yet assure that the documentation actually represents the goods that are being exchanged. Just because an approved label on a box declares that it contains certain materials with certain characteristics, there’s currently no way to be sure of what’s really in the box. While time may be saved and the hassle of paperwork reduced, blockchain technology does not, in itself, mitigate the risk for fraud, substandard, and counterfeit materials. Most products, whether intended for businesses or end consumers, still use paper tracking along their supply line. Many different methods have been implemented for marking goods /materials /pharmaceuticals in hard-to-remove ways that identify the materials, but that still all comes down to “bagging and tagging.” Malefactors continue to show their persistence at switching materials and labels.

 

Quantagenetics® is a novel solution to this problem because it authenticates materials using only the material itself, eliminating the need for a paper trail. There is no need to rely on what the paperwork says or add a tracer such as DNA, RFID tags, or labels, etc. when the materials self-certify themselves. A material can only be what it is.

 

Quantagenetics® is an accurate, rapid, and low cost approach to material analysis using plasma spectroscopy and tens of thousands of variables comprising the entire periodic table. It can distinguish between different lots of the same medication (with greater than 98% accuracy) and between different manufacturers of pharmaceutical materials. Materialytics Analysis does not require the addition of markers to identify materials.

 

Every material “is what it is,” carrying the unique physical signature of its origin and history that Quantagenetics ® is able to identify. If one material is substituted for another or the original material is altered (for example, treated with a pesticide), the signature changes in a detectable way.  Quantagenetics® provides answers in seconds with laboratory results using a device the size of a large hand drill.  Quantagenetics® is currently used to identify a wide range of counterfeit materials that have been “made to deceive,” from gemstones to computer chips.

 

An example:  Bloomberg reported on 88 bales of cotton going from Houston to Qingdao “Aussie Bank’s 7000-Mile Blockchain Experiment Could Change Trade”. Staff in Qingdao have no easy way of verifying that the cotton received is of the same quality and variety as the cotton that left Houston.  While the staff may scan the documentation with the bales, causing an update to the electronic contract to be executed subsequently, authorizing payment and transfer of the goods, the receiving party may be paying for something other than what they ordered. However, if the port staff used a handheld M2S® system instead, they would have an on-site chemistry lab at their fingertips to rapidly confirm the shipment. The Quantagenetics® signature collected by M2S® would be sent for verification. Upon verification, the contract would be triggered, allowing a transfer of ownership and payment. The receiving party would have confidence that they are getting what they ordered. 

 

By placing the Quantagenetics® signature into the blockchain all parties know what they are actually dealing with. Ensuring that the information in the blockchain is tied to the physical world via information inherent in the materials, the result is a material with an Immutable Signature™ and an immutable history. This Immutable Provenance™ can then be used by all concerned parties. The Quantagenetics® signature combined with the blockchain provides an unmatched level of supply chain security for both the physical product and the financial transactions that follow them.