Asset Tracking &
Management
Use blockchain at a global scale to track and manage any type of asset ownership, digital or physical, across a variety of operational definitions, including legal ownership, logistical movements, or insurance liability.
How it Works
01
Assets are defined with their key properties on a blockchain, ensuring that configuration information, maintenance details, cost data, or ownership information are associated with each asset—tangible or intangible. This is all implemented with an easy-to-use RESTful API.
02
These properties remain connected to an asset as it moves geographically, organizationally, and/or through business processes that might change the asset's status—or those which rely on asset properties as a basis for either automatic or human-managed business decisions.
03
Assets are tracked throughout their entire lifetimes, whether they consist of digital commodities, physical assets, products, components, or facilities, enabling an end-to-end, global-scale network that can manage millions of transactions per second.
04
All parties involved in asset ownership or transactions have continuous access to the single truth of status in real time, helping avoid disputes, mitigating compliance exposures, and providing an immutable record for audits.
05
The complete history of an asset is available through its lifecycle, including replacements or upgrades. The blockchain serves as an ongoing ledger, a permanent record of everything that occurs, even when assets such as components are built into a final assembly asset, as well as when assemblies are decomposed back into their constituent parts.
Benefits
01
Secure ownership & transfer
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Transaction and asset ownership records are immutable.
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Data can be encrypted on both public and private shards, and references to off-chain data can be maintained on-chain.
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Assets can be managed as NFTs (Non-Fungible Tokens). An NFT is simply a representation of a specific object on the blockchain, and NFTs can be used to track not only business-related records, but also artistic content created by individuals. Click here to learn more about NFTs as digital assets.
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Privacy is maintained even while engaging in multiparty collaboration across organizations.
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Byzantine Fault Tolerant security enables identity validation, authentication, resiliency, information reliability, and assured access to communication networks and digitized assets. A central point of failure does not exist.
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Distributed ledger technology provides full backups, disaster recovery, and prevention of ransomware attacks.
02
Regulatory compliance & auditability
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Creates a permanent, indelible, and unalterable history of transactions, distributed and held across multiple computers.
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Immutability and decentralization ensure data integrity, transforming the audit process into an efficient, sensible, and cost-effective procedure.
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Regulatory and compliance mechanisms can be implemented and automated to ensure requirements are met and recorded on an immutable ledger both within and across jurisdictional boundaries.
03
Automation & interoperability
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With Devvio smart contracts, business process workflows, workforce management, and scheduling for maintenance or other regular events can be easily automated.
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Introduces greater control, granularity, and trust to data and asset sharing, paving the way for automated business models involving broader ecosystems.
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Enables seamless interoperability solutions by easily integrating with existing databases, providing a backbone to support connection and cooperation across established technologies, with quick onboarding of traditional data and intuitive integration with existing processes using tools such as our RESTful API.