An informal consortium of arbitrary businesses comprising a luxury goods fabricator, a retailer and service shop and a reseller co-operate over the life of a luxury handbag.
The consortium use nChain Event to register, link and verify the provenance of their records on the blockchain.
The fabricator allocates a serial number to a new handbag. A fabrication certificate is registered.
The handbag is sold by the retailer. The sales transaction is registered.
The handbag is serviced by the retailer. The service receipt is registered.
The handbag is resold by the reseller. The resale transaction is registered.
The handbag is withdrawn from the market by the reseller. The withdrawal certificate is registered. The linked locations are finalised. All linked records still exist on the blockchain but cannot be updated further.
Anyone with a link location of the handbag can read the associated record at any time. They can also follow the links to the previous and subsequent records at other linked locations. And those that also have the original record can also verify it with the SSOT record on the blockchain at any time.
The linked locations can be allocated to any other agent in the consortium. There could be any number of further updates, such as delivery, usage, more services etcetera.
The records are irrefutably linked together on the blockchain.
The ability to verify original records and times.
Transparency: Records are publicly accessible, and the result is readable on the blockchain.
An Irrefutable proof of the records exists on the blockchain (non-repudiation & tamper-proof).
Multi-party: different parties can be allocated control and update the linked locations.
A Luxury Handbag demo application for nChain Event is available from the Product Suite Platform. See here.
