British Standards Institution and Trace Labs Launch Blockchain-based Solutions for Integrity of Digital Records
In early 2019, the business standards company BSI partnered up exclusively with Trace Labs, the core developers of OriginTrail, to deliver blockchain-enabled solutions. With such solutions, the British Standards Institution (BSI) seeks to enhance its global assurance, certification, and supply chain services by ensuring the integrity of digital records. In collaboration with Trace Labs, BSI is now launching a series of blockchain-based solutions catering to both organizations and individuals aiming to build resilience in their supply chains, a need becoming even more apparent in light of the COVID-19 virus outbreak. Solutions described in the recently released BSI white paper – titled “Instruments of Trust: BSI’s Blockchain-Based Solutions” – enable a secure and trusted way of verifying the authenticity of claimed personal credentials as well as company and product certifications. BSI has also introduced the SCAN Trusted Factory Blockchain Program designed for US importers to ensure the authenticity of a factory’s certification and factory credentials.
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False assertions are prevalent in society leaving people uncertain of whom and what to trust. Counterfeit products and false claims are far too commonplace and perpetually flood the market. Examples include counterfeit drugs/fentanyl-laced prescriptions, false or misleading food labels, and the range of credentials provided to others as part of our daily lives – passports, qualifications and so on. Challenges remain within legacy trust systems, as businesses and consumers demand an immutable source of truth and verification.
“In today’s global, interconnected economy, there is a growing trust deficit felt by businesses and consumers,” said, Dan Purtell, BSI Group Innovation Director
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To help combat false claims, BSI partnered with Trace Labs in early 2019 and has since used technology based on the OriginTrail Decentralized Network (ODN) in three pilot projects. This allowed BSI to provide a suite of solutions that serve as instruments of trust for its clients, enhancing the resilience of its brands. Using DLT technology as a single source of truth, they aim to provide clients with the ability to demonstrate to their customers the authenticity of their claims, be it certifications, product authenticity, or traceability. BSI and Trace Labs are continuing to develop new solutions beyond the three pilot projects.
