How ReceiptChain, the identity of things, compares to VeChain, Waltonchain, VINChain, Syscoin, and Ebay and Craigslist
In the blockchain world there are mainly two types of projects related to physical goods, supply chain software and marketplace software. In the life cycle of a product you can categorize these services as before point of sale and after point of sale. This is where ReceiptChain steps in. ReceiptChain tracks the complete product life cycle saving everyone who buys, sells, lends, and uses the product time and money.
ReceiptChain is the software, to authenticate, upon inception, track through logistics, sell in the initial marketplace, and then resell for customer. Although the owner may change hands many times, the product information remains the same. This is the identity of the product. Placing the identity of this product in many data silos requires the reproduction of this data over and over again. This can be improved by storing that data in one place. For ReceiptChain that data is stored on the ReceiptChain blockchain and then audited by the Ethereum main chain to ensure it’s history is immutable.
Like
Waltonchain and VeChain, at ReceiptChain we have software for enterprise to efficiently store vast amounts of ownership, custodial and other descriptive data during the supply chain and logistics phase and then use the same or parts of that data in marketing. Our backend tools can add bulk quantities of products to the blockchain with private key encryption that verifies the source of the data. NFC Chips and RFIDs can be used as physical identification. Popular ERP, inventory and tracking solutions can be easily modified to read ReceiptChain blockchain data. At this point our phone app and website can be used to track the products. Unlike Waltonchain and VeChain, ReceiptChain is based in the United States and has usable software today.
Like
VINChain, this data can then be reused by the customer to make purchase decisions. Our phone app. The phone app shows displays the history of the object from inception and displays the registered logo of the authenticated creator in the application. On point of sale the ownership of the product is transferred to the customer and shown in their inventory. Unlike VINChain our software is not limited to automobiles and available now.
Like
Syscoin, soon the customer will also use the ReceiptChain app to find and purchase the product. This creates a global search engine for things. Like
Ebay and Craigslist, secondary products may be bought and sold. Unlike Ebay and Craigslist item descriptions don’t need to be re-created each time the item is made and the history of the item is known. Products can be paid for using cryptocurrency like Ethereum and Bitcoin. Your bank won’t freeze your account when you need to withdraw $3,000 and you won’t have to walk around with it in your pocket at 2AM.
Unlike any other product the customer has a personal inventory of their items for insurance, location tracking using NFCs, popular Bluetooth chips, or reselling later. This data can be used to lend and rent products efficiently keeping track of the owner and user. These records encourage products to be reused, resold, and recycled.
Many of these new blockchain projects are valid and note-worthy, but we believe at ReceiptChain that they are limited in scope. Blockchain technology can be used as a universal data silo. It can be used to create a single identity for individual products or titles. This identity can be used for all the purposes that we use products. We have built this universal tracking blockchain and it is functioning now. You can try it for
Android and
iOS at
ReceiptChain.io.
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